ICICI — House Loan NOC

My self the undersigned and other 13 members of colleagues have planned to go for site purchase at Divancheuru which has been proposed for Development (Apartment Constructions). For above proposal, we have approached and conformed a builder who is willing to take the land for development and agreed for 40:60 ratio and as a benefit we will get 2 flats each and some liquid cash. For this development process, we expected that expenditure budget and output benefit should be equal contribution / same.

In connection with this, we have approached your concerned ICICI bank home loans section Manager, Mr. Venkat, Rajahmundry main branch, . We had explained our project plan and the proposed time line when we are going to clear the loans also. After discussing with Mr. Venkat, we went for site SQY lay out adjustment and applied loan. After so much of trouble, finally all registrations were being completed. For this process Mr. Venkat endorsed Mr. Mani Kumar for document collection.

Now our builder has been asked to submit with bank NOC by Rajahmundry Municipal Corporation when he had applied for Development Plan approval. We had approached to discuss NOC requirement with above mentioned concerned manager as he assured in our earlier discussion. But unfortunately now he is stating that it is not possible to provide NOC and advising us to go for individual construction.

As per our proposed project only we went for site purchase and as per your bank person assurance only we took loans and otherwise we would have approached another bank for the same. After issuing the bank loans, now how could he change statement like that. He should have denied earlier itself stating that it is not possible / no such rule in bank anci he was supposed to inform before the process. Due to this our entire project not taking further step.

Before giving complaint request in grievance, we approached and explained the entire issue to Mr. Ramu, Credit Manager and Mr. Akram, Mr.Venkat reporting boss. Mr. Akram enquired with Mr. Venkat and stated that tñ=r= is nc conversation happened earlier about project proposal. Then we informed to Mr. Akram that we have some witness about our conversation and we will present on your request. For that Mr. Akram stated, he will put up an enquire on Mr. Venkat on this issue and will take action against him. He also informed that the outcome shall be shared with us upon completion but unfortunately that didn’t happen.

We didn’t receive any positive outcome of this enquiry and action against Mr. Venkat, . By his false communication only we are facing lot of inconvenience and how can we trust such a reputed corporate bank like yours. How can we recommend to others. This is a very huge jolt for people like us with small salaries and it will make lot of impact on our financial situation over the period of time.

Thanks & Regards,
Siva (On behalf of borrowers team)
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