ICICI Bank — complaint against the valuer

Address:

143001

Amritsar
22/9/2017
This is to inform you that we have been doing the wholesale trading of medicine business at katra sher singh, amritsar.in the name and style of m/s. Mehra brothers, a proprietorship concern, since august 2013.
We are enjoying an odp limit of rs.33lacs and a housing loan of rs.5/-lac against the security of mortgaged of property no.48-a, rani ka bagh, near vikas travel, amritsar. Valued rs.65 to 70 lacs. From one of the nationalized bank. The operation of the account is quite satisfactory and the a/c is a standard one, declared by the bank. We have also been able to achieve the projected sale target for the last two years.
A few days back one of your bank manager mr. Suman kumar along with two officers came to our shop and then to our residence for getting our account taken over from our bank on seeing the market reputation of the firm. And they agreed in principal to sanction a limit to rs.35lacs and a housing loan of rs.10/-lacs @ 9.50% per annul with no hiding charges on the condition of valuing of the property first, which we agreed.
After three days a valuer of an age of 21 years came to our property for getting the valuation done. And after sitting there for few minutes, he went satisfied with a valuation of rs.70 lacs.
After pursuing for 10 to 15 days, your bank has refused to sanction on the ground that the main zonal head technical valuer has refused to get the valuation done because of common passage of the property to which the other bank has already mortgaged.
Needless to point out here that your bank had already sanctioned a loan of rs.10 lac for the purchased of this property and a construction there. Of in the year[protected]. That account had already been adjusted in full and final. We have already made this position to your bank and the closure certificate has already been submitted to the bank’ officials.
Even in spite of the facts made known to your main zonal technical valuer has plainly refused without seeing and visiting the property in question.
We were shocked to know his decision for refusal. We basically fail to understand that when a property once mortgaged by your bank in the year[protected] why could not be mortgaged again?
Sir, we are not at a loss because we have already doing our business with the help of our facilitated bank, but your bank has lost a good business and a negative/wrong message has viral in the market at the cost for a wrong and adamant decision of the valuer which amounts to gross negligence..
So keeping in view of the facts mentioned there on we demand a stern action against the said valuer and that valuer be marked as black listed.in the interest of the bank.


From: mehra brothers.

Thanx and regards
For mehra brothers
Shop no. 14 & 17 first floor
Harman market katra sher singh
Amritsar (Punjab)
(Raghav mehra) [protected]
[protected]
[protected]

Emil id [protected]@gmail.com