[Resolved]  India Infoline Finance [IIFL] — Gold auctioned without proper communication and tenure date not completed

Dear Sir,

Still i'm contacting to the respective Manager to get the auction caused documents. They are not willing to give those documents to us. Day by Day they are postponing and telling non relevant reasons to avoid us.

Please help me on this.

Thanks
Anilkumar Dalai

Dear IIFL Team,

Every day I'm contacting with respective branch manager, regional manager and help-line team. So far I couldn't received any proper response. Just they forwarded one inland letter which was not acknowledged by any one of my family members.

Your team never contacted to any one of my contact list. How your tem was not followed company owned auctioned rules. Here I'm attaching your auction rule which was downloaded from your site. My GOLD not comes under your auction item list.

There is no down time value for gold and tenure also not completed. How come your team auctioned my GOLD with out my acknowledgement.

Please revert me, with action point to get my GOLD back.

Thanks
Anilkumar Dalai

Dear Sir / Madam,

This is Anilkumar Dalai, here I would like to bring the following points into your notice, where my wife, my family members & me faced issues with IIFL, KPGB colony branch Manager and supporting Mr. Sandeep.
As I mentioned in earlier complaint I have taken the Gold Loan on 23/06/2015 loan for the amount of 1.36, 000/- on agreed to pay the interest Annually by both parties and the tenure data is[protected].

Point 1:

Respective Manager & Mr.Sandeep were saying that while taking the Gold Loan concern scheme was there. In between the company changed the scheme. So they moved my Gold Loan in to respective scheme i.e., Interest due will be pay Quarterly. How come this can be possible? Without giving intimation to customer, your team changed my loan plan.

Your team was saying that intimation sent to customer. We never received any communication on change of loan plan by post/phone/SMS/Email. Please provide the support documents.

***Why your team introducing FAKE schemes to customers which are not there in “IIFL gold loan schemes” for their potential growth.

Point2:

Before sending to auction, they were not communicated even to me & my wife. We have given all of my mobile numbers including Malaysia numbers, addresses, Whatapps numbers & Email ID’s.
I have given “written communication” to respective branch manager addressing that we are going to Malaysia for official trip and will not be available in Hyderabad. We requested them please do correspondence to respective email / whatsapp number or my Malaysia number & address. It was not happened. When I was asking the copy of my requested letter, they were saying that we haven’t kept the concern copy and on top of that they were saying company will not consider your request. If that is your policy, why your branch team collected phone numbers/email ID’s/ and correspondence letters.

Here I’m requesting you to please back to me the copy of requested letter.

Point3:

This is with reference to your auction letter, for interest of Rs 20000/-, you auctioned worth of Rs 3, 00, 000/- Gold. You are not only auctioned my GOLD. You auctioned my sentimental values.
On what basis you auctioned my Gold for lower value? When we refer the statistics, Gold price in Feb-2016 was 2663 to 2997. What was the auctioned GOLD value? Who is the barrier? Can you provide the buyer details and receipts for me?

Point 4:

I’m the customer of IIFL since 2012. You can check my loan track record and payments details for reference. I trusted IIFL. So I kept my GOLD in IIFL. But your team cheated me by introducing FAKE SCHEME and moved my TWO GOLD LOAN ACCOUNTS into SINGLE ACCOUNT and then AUCTIONED without intimation even tenure not completed.

I’m looking for solution from your end. Please provide all of my GL account details since 2012 with schemes & payment history

Point 5:

When I was requesting your team for above documents, they said that they will provide the documents to account holder or nominee only. For handing over the documents, you team is asking nominee / account holder presence. But why your team was not checked before sending my GOLD to auction weather tenure completed / which plan / communicated to customer or not .

My wife traveled from Malaysia to Hyderabad branch and visited your KPHB Colony branch on dated[protected] in presence of branch manager & supporting manager Mr.Sandeep to collect my documents. Then your team was saying will not give any documents to my nominee. They are asking red authorization letter from account holder to give support documents. She visited twice; so far she hasn’t received requested documents. We requested following documents to them.

So again I’m requesting you to please provide following documents to my nominee.
• The letter which was containing the change of terms & conditions of my loan plan and intimation letter which you sent to me (Which was stated by respective branch manager).
• Copy of my request letter which I have submitted to branch manager for communication purpose
• Records of my GL accounts since 2012 to till now and the payment history details
• Call recording details which was done by branch team to me. Phone track / SMS /eMail deatails. As per RBI norms you have to document it and show to customer. Provide respective document
• Reason for Auction 3, 00, 000 worth gold for Rs 20, 000/- interest
• Gold auction details, rate of Gold in Feb-2016, Selling rate, buyer details with address & phone numbers and receipts which you given to buyer
• As per RBI Norms after auctioning the GOLD, you need to send the auction details, balance details and particulars to account holder. You passed the 6 months. So far you haven't sent the details to customer. Please provide those details.
• Action plan of your branch team and supporting Managers for diverting the customers to FAKE schemes.

Thanking you Sir,
Date:[protected] Anilkumar Dalai

With regards to your complaint raised.We would request you to call on[protected] or write to us on [protected]@indiainfoline.com.
Regards,
IIFL

Dear sir / madam,

I sent multiple emails to iIIFL gold loan help line. So far i haven't received proper response. They just conveyed fake loan plans to me and transfered two loan accounts in to single account and then auctioned without intimation. I trusted IIFL. But they cheated me like any thing. I'm looking for help to get my gold back.

Thanks
Anilkumar Dakai

Dear Sir / Madam,

After discussed with them, I sent my nominee to India to collect documents. My nominee went to KPHB colony branch for requesting support documents. They said that we will not consider authorization letter and were attacking with un-parliamentary languages. They lost their ethics and attacking on ladies with un-parliamentary languages.

What a hell creating by your team?

I want to check with you, weather your team is providing requested documents or not. If you don't want to give the documents, give me written. We will approach legally. Looking for immediate response.

Thanks
Anilkumar Dalai

Dear Sir / Madam,

Y'day my nominee was trying to give request letter at KPHB Colony branch for getting support documents. No one was willing to take request letter. Why your team is scaring to provide respective documents. They did cheating and trying to escape from that. No one can escape from the law.

I sent request letter through courier. Finally some one acknowledged. I'm wondering about your team and help line services.

I will fight for my GOLD. Please provide requested documents on Saturday[protected]. I'm travelling to Hyderabad from Malaysia for getting those documents. Please make sure all the documents available at KPHB Colony branch on Saturday[protected].

Please don't play your mind games on customers and provide requested documents. You have to bare my wife & mine travelling expenses also. Many times escalated, no one is responding. These evidences enough to submit in consumer court.

Thanks
Anilkumar Dalai

Sorry for the inconvenience caused, We have forwarded your complain to the concern department. They would get back to you shortly
Regards,
IIFL