IndiaBulls Complaints & Reviews

Dear team, i am cust, my name is manoj rajawat we have applied loan your side last month and got sectioned letter from your side but still loan did not disbursed last one month and you have mentioned in your portal after sectioned we have disbursed loan with in 24h, why have your fake mentioned in indiabulls side if you can not disbursed loan with time, my suggestion to you change 24 disbursed in your portal. We want to answer why have you not loan.

My sentioned letter 767272
Manoj rajawat
[protected]
[protected]

I have purchased a flat in srv mathura from shri group by 80% loan amount rs. 16 lac from india bulls, and paying monthly installment, but sudden i got a message for fc my loan account, which i have not applied, any bank officer is involve with builder for selling my property without my concent and trying to fc my account.
Bank is not permitted to take any application from 3rd party or can produce my bank details to others, which is to be investigate.

Subject: Misuse of maintenance deposit taken from purchaser @ Rs200/sq.ft
Sir, with due respect please note that you were supposed to form such body immediately within six month from the date of you received completion certificate from the statutory competent authority but it appears that due to your selfish motives & vested interest to nominate SORIL to earn out of all this you have not done so. In this regard we have sent a legal notice to your registered office, which you have not replied. After our lot of failed attempts and reminders to your office and with your local representative Mr. Tushar Shah to convince you to do so, we formed Indiabulls Mega Mall Owners Association and obtained PAN card and opened a bank account on its name. This shows our sincerity & complete co-operation and eagerness. This also shows your non-cooperation towards handing over the maintenance deposit and management of the Megamall.
Sir, Your above later received after the meeting between the committee members and Mr. Tushar Bhai and subsequently with Mr. Ravneet Gill who visited the Vadodara site on 27th April 2017 has shocked all the members. This letter entirely contradicts our discussion with Mr. Ravneet Gill & Mr. Tushar Shah.
During the above meeting, the committee members submitted quotations for Security and Maintenance from other contractors providing similar services which was far less then you are drawing for our maintenance deposit. You were to study those proposals & were to revert constructively & sort out other contentious issues which were raised during this meeting with Mr. Gill.
Instead of deliberating further discussions on our grievances you have communicated individually to all the members that the committee members are not cooperating.
Therefore it is felt out most important to bring certain facts to your notice, which is as follows –
1. That you were to born all expenses from the interest of the corpus fund deposits.
2. That you have not complied with the grievances raised by the committee members during the meeting held on 23rd September 2016 with Mr. Tushar Shah, your local representative in Vadodara.
3. That you have not complied or provided the details of your issues with a single purchaser who has purchased 36 shops, including the details of issues of collection of maintenance charges, transfer fee, etc. from them.
4. That the amount paid initially by the purchasers are obtained by you in form of a deposit and therefor you are supposed to declare that the total corpus collected is towards the deposit and you also have not informed the interest amount @ 12% which should be payable to the members, as informed by committee in a meeting held with Mr. Tushar Shah, which was documented and also shared with Mr. Ravneet Gill.
5. That you have not provided copies of any ongoing contracts / payments to service providers or contractors engaged by you.
6. That you have also not provided any accounts about the receipts of deposit transfer fees collected by you.
7. That you have also not informed about the progress of action over pending construction work, incomplete construction, bad finishing work, poor quality of service, as highlighted to your entire team at Vadodara along with a letter to Mr. Tushar Shah and Mr. Ravneet Gill.
Under the above circumstances sending letters individually to purchasers is very unfair on your part which cannot be tolerated, particularly when you have obtained consent from each and every purchaser who has authorized 11 committee members to form a cooperative service society.
In view of above you are requested to provide all the details about the amount collected towards deposits and other collections, interest on such deposits payable to us, utilization of such deposits and interest, status of all grievances communicated to you along with your books of accounts within 7 days without fail so as to apprise the purchasers and clear the doubts created by your above letter.
We wish that you will reply this letter within 10 day else we will be forced to take legal resolution.

For
DEEPAK AVARANI
F39 Indiabulls Mega Mall, Near Jetalpur Bridge Akota Vadodara 390020

To,
The customer care

Subject: formation of co-operative service society for “mega mall vadodara” (“project”) and maintenance
Ref: your rpad letters dated 12th june 2017 to all the purchasers of indiabulls property at vadodara
Sir,
You have sent rpad letters dated 12th june 2017 whereby you have alleged that the proposed committee is not co-operating in the process of formation of mega mall co-op service society ltd.
Sir, with due respect please note that you were supposed to form such body immediately within six month from the date of you received completion certificate from the statutory competent authority but it appears that due to your selfish motives & vested interest to nominate soril to earn out of all this you have not done so.in this regard we have sent a legal notice to your registered office, which you have not replied. After our lot of failed attempts and reminders to your office and with your local representative mr. Tushar shah to convince you to do so, we formed indiabulls mega mall owners association and obtained pan card and opened a bank account on its name. This shows our sincerity & complete co-operation and eagerness. This also shows your non-cooperation towards handing over the maintenance deposit and management of the megamall.
Sir, your above later received after the meeting between the committee members and mr. Tushar bhai and subsequently with mr. Ravneet gill who visited the vadodara site on 27th april 2017 has shocked all the members. This letter entirely contradicts our discussion with mr. Ravneet gill & mr. Tushar shah.
During the above meeting, the committee members submitted quotations for security and maintenance from other contractors providing similar services which was far less then you are drawing for our maintenance deposit. You were to study those proposals & were to revert constructively & sort out other contentious issues which were raised during this meeting with mr. Gill.
Instead of deliberating further discussions on our grievances you have communicated individually to all the members that the committee members are not cooperating.
Therefore it is felt out most important to bring certain facts to your notice, which is as follows –
1. That you were to born all expenses from the interest of the corpus fund deposits.
2. That you have not complied with the grievances raised by the committee members during the meeting held on 23rd september 2016 with mr. Tushar shah, your local representative in vadodara.
3. That you have not complied or provided the details of your issues with a single purchaser who has purchased 36 shops, including the details of issues of collection of maintenance charges, transfer fee, etc. From them.
4. That the amount paid initially by the purchasers are obtained by you in form of a deposit and therefor you are supposed to declare that the total corpus collected is towards the deposit and you also have not informed the interest amount @ 12% which should be payable to the members, as informed by committee in a meeting held with mr. Tushar shah, which was documented and also shared with mr. Ravneet gill.
5. That you have not provided copies of any ongoing contracts / payments to service providers or contractors engaged by you.
6. That you have also not provided any accounts about the receipts of deposit transfer fees collected by you.
7. That you have also not informed about the progress of action over pending construction work, incomplete construction, bad finishing work, poor quality of service, as highlighted to your entire team at vadodara along with a letter to mr. Tushar shah and mr. Ravneet gill.
Under the above circumstances sending letters individually to purchasers is very unfair on your part which cannot be tolerated, particularly when you have obtained consent from each and every purchaser who has authorized 11 committee members to form a cooperative service society.
In view of above you are requested to provide all the details about the amount collected towards deposits and other collections, interest on such deposits payable to us, utilization of such deposits and interest, status of all grievances communicated to you along with your books of accounts within 7 days without fail so as to apprise the purchasers and clear the doubts created by your above letter.
We wish that you will reply this letter within 10 day else we will be forced to take legal resolution.

For and on behalf of mega mall owners co-op service society ltd
President
Deepak avarani
F39 indiabulls mega mall, near jetalpur bridge akota vadodara 390020

Richmond road branch people don't know what is the process for roi change, its been 30 days taken my documents with cheque and still there no progress. When i try to reach ramesh ([protected]) he does not pick the call but reply's on messages.. Is this a way to handle customer. Another person his manager its seems safi ([protected]) he does not pick my calls, but when i call from my different number he than picks the calls. Fake promises are done stating that the top up loan & roi will be done in 2 days 3 days or so nothing happening. Today i when i started to shout at them from different number after 30 days. They are asking me to visit branch.

Please let me know if i would get the roi get changed by this month. Else i will not be paying any emi. Till now i don't have any cheque bounces. But due this bull # people & process i will take over my loan to other banks. Where there is excellent service to customer & like this.

I will not recommend any one for this bank

Dear sir,

Please note that mr. Rattan singh home loan sanction to indiabulls for 19 jun 2017 my lead i'd ih17899246. But i have a completely property document provide for indiabulls kharar branch distt. Mohali but loan have not approval and personal and technical verification is completed. My plot registeretion date near next month for 5_08_2017. Please immediately solve my cash.

Thanks.
Regards.
Rattan singh

FW: HHLHYD00330545 | Hell lot of inconvenience caused needs Urgent Action Needed !!!

Attached an email as an evidence.

10 days - No Solution provided. Now a days Government offices are better in my opinion.

Except for the sales team to followup for Cheque and Form's to get Signed.

Because of delay Indiabulls, I am being Charged Pre-EMI every month of RS. 16000+ this amount to me was only planned until 2 months and this is the Third month they are still charging.

My Experience with INDIABULLS is They Cheat the customer.

1. Insurance is not mandatory - Agent will force you to apply insurance so he can get commission. After purchase he will never admit he said that it is Mandatory.

2. on Partial Disbursement - I Was misguided. Sales team Agent Said he can avail EMI starting Begining of Loan, but I was not informed about it and Started Charging me PRE- EMI

3. Agents would always make sure you are charged more as interest.

4. Improper Documentation . No proper Stream line of document collection. and creates lot of inconvenience on day to day basis.

5. NO replies to customer sevice call - Very Very Poor customer serivice

6. NO replies to your email.

7. Very Poor coordination. you will feel tortured mentally with Sales team calling you for signing a Cheque and Forms on intermediate basis.

Emails will not be responded to any of the questions, Always it would say

For any further clarification in this regard or in any other ; please feel free to call us on our toll free help line[protected] from Monday to Saturday between 9 am to 6 pm. Kindly keep your Loan Account Number handy in order to help our call centre agent serve you better.

My Contact no: [protected]

I had made a part payment of 5 lakhs on 13th June by transferring money directly to the Indiabulls Axis Bank account. They had asked me to share the Transaction Reference ID every time I make a part payment which I had done many times earlier succesfully. But this time around they did not acknowledge the payment and on calling their hotline they say that they haven't received the amount when I can clearly see online that the transaction was succesful. So now here I am...my hard earned money is gone...the tenure on the Loan account did not reduce...and the EMI for July will soon be deducted. I had too much trust on Indiabulls. Very disappointed.

Dear sir/mam,

Please if you could go through the entire mail as below. These people are cheats and they are eating up hard earn money with their marketing strategy. I am fighting for last 7 months for an explanation but there is no response from india bulls or the promoter mounthill realty in kolkata. Please find the issue as described below.
Reminder mail
Dear sir,
This is with reference to my previous mail dt. 12/02/2017 and other previous mails where in the whole fact has been described. But as suggested by mr. Deepak singh in the meeting held with him held on 17/04/17 at 16 lee road, lee commerce building, kolkata 700 020 to provide one more mail to facilitate and to expedite the refund of the booking money i paid on 03/10/2016.
The flat was booked by me on 03/10/16 by paying a booking money of rs. 52250. 00 absolutely believing in good faith on the verbal statement of your representative debojyoti adhikari that the flat will contain a super built up area of 1071 square feet as before payment of the booking money, i was supplied with nether any paper /. Document nor any drawing. On 12/10/16, i was brought to the office of india bulls at 16 lee road, lee commerce building, kolkata 700 020 where i was supplied with a brochure of your project “ rainforest “, some papers and a sample agreement of flats of your project “rainforest “. Looking at the plan provided in the brochure and the sample agreement supplied i came to realize that the plan of the flat no. 16-5b provided in the brochure can never contain a super built up area of 1071 square feet and on calculation of the super built up area of the flat from plan provided in the brochure following the mode of calculation stipulated in clause no.6.1.4 of the sample agreement supplied it was found to be far less than 1071 square feet (Less by about 195 square feet.). Immediately then and there the matter was taken up with india bulls personnel who failed to clarify and justify the discrepancy and the dispute. By mail dt. 26/10/2016 the matter was brought to the notice of mkhs housing llp registered office – 6 abanindra nath thakur sarani (Camac street) fort khox building, 2nd. Floor, room no. 204, kolkata 700 017. And corporate office – next to hyath regency, between gate no. 1&2, salt lake city, kolkata and mr. Deepak singh, india bulls, 16 lee road, lee commerce building, kolkata 700 020 along with my declination and unwillingness to purchase the flat due to the reasons that the area of the flat is far less (As stated above) than as committed by your representative and statements in your documents and claimed refund of full booking money, i paid. On receipt of my mail dt. 26/10/16 a meeting was fixed vide your mail dt. 29/10/16 with your office personnel and me on 31/10/16 at your office at salt lake to discuss the matter. I reached on time but the meeting was suspended by you due to reasons best known to you. The same meeting was held on 08/11/16 at your office at next to hyath regency, between gate no. 1&2, salt lake city, kolkata – 700 098 at 1 pm where i being out of station due to reasons of my profession and service mr. Pran gopal pal, mr. Rathin saha and my wife mrs. Nibedita adhya represented me. The meeting was held between my above representatives and your office personnel, mr. Arup chakraborty, ms. Avantika roy and mr. Debojyoti adhikari. A long discussion was held starting from 1 pm 2 -30 pm.
Your office personnel not being able justify such difference in area of the flat as stated above could not disagree the points of disputes and un-satisfaction raised by me in my mail dt. 26/10/2016. Lastly your office personnel admitted the issue raised by me and confirmed cancellation of the booking with refund of full amount of booking money i paid. Here it is kept mentioned that no written minutes of the meeting was made in spite of my representatives’ request to do so.
Now, from above state of affairs it is very clear that your verbal commitments contradicts your papers. Building plan and documents and your papers, building plan and documents once again contradicts each other putting the whole thing into total anomalous and confusing deal. But from above one things it is very clear that you claimed payment for a super built area of 1071 square feet against sell / giving possession of the flat 16- 5b having a super built up area of 876 square feet which is not justified and judicious and due to such reasons i did not like to be entrapped into it the point of dispute is as clear as water and a glance of any petty technical person can calculate and understand the difference whereas yours being a big concern with big-big technical and legal sections could not understand the matter during the period of last 6 months which is not only astonishing, but also amusing to me.
However, you have already taken long time to refund the booking money. I believe that you will be good enough not to take further time and refund the booking money of rs. 52250=00 immediately.
Thanking you.

. Yours faithfully,
Prosenjit adhya

I have booked in Jan 2014 in Tower 21-801 3.5 BHK flat and upto paid more than 50% of total cost of flat and when I was asking for possession date they postponed by 2 year longer by 2 years. So I decided to cancel my booking, they ask to cut 20% of amount on paid money. I have already file court case in consumer court.If we all join together we can fight better.

Respected Sir,
Greetings for the day,

Find reference to your letter ref no. MCHI/CGC/12-13/029 dated 21 December, 2012, PMOPG/E/2017/0240546 dated : 254/04/2017 regarding our complaint against IndiaBulls Greens, Panvel (Mumbai), Flat No. U-1702.

This has reference to our several emails and correspondences recently vide our letter ref VNR/ IBRL/ 2017/ 0406 Date: 02, April, 2017 to Mr. Allwyn Menezes, IndiaBulls Green, New Panvelregarding your payment follow ups against our flat no. 15B-1707 in IndiaBulls Green, New Panvel.

We regret to say that we have been literally harassed by the company firstly by delaying the possession of our flat for the undisclosed time and not providing any clarity on the same. However we had only made a payment of Rs 25 Lacs on the 31st of March, 2017 after literally threatening to cancel our allocation. Hence we are not liable to pay any extra interest for the delay caused at the builders end.

We feel cheated and harassed after false commitments and promises made by the company. The list of the same are as follows:
1) We were initially allotted a flat in U - Wing area measuring 865 Sq Ft. front facing, however after the payment was done we were allotted a different flat in B – Wing increasing the carpet area to 910 Sq Ft.
2)
We had been reiterating about my financial conditions and the extremely serious medical conditions of my wife which has been causing highly mental agony to the family. Hereafter any complexity may be directly or indirectly liable to you.
Hereafter I urge you to kindly do not try to impose any undue taxes or charges on us for the delay caused at your end.
Kindly understand that we may not make any extra payments on account of the Interest charges or any other charges for the delay caused from your end. We may be forced to take appropriate actions incase your inability of the same. Request you to expedite the possession process and confirm the same.

Thanks & regards,
Virjanand Rastogi
[protected]
[protected]

Sr=[protected]' re: excess payment hhlchd00120026
A week has been lapsed but till date am not able to get any response from your end. Pl. Note that rs. 18570/- are due for payment in my account on account of excess payment. As desired the scanned copy of cancelled cheque has been sent on may 19, 2017. I was given to understand that the matter will be resolved within 3 days but sorry to say that the case is still pending without any update.in case of late payments the company is charging intrest but when it comes to customer end there is no such provision to pay intrest even to refund the payments within time frame intimated by the company.

Sujata Vangar/Indiabulls,

I Had asked for LOD - list of documents for LAN :-HHLBAN00275721 in March 2017 from then these documents are sent incorrectly . However multiple time I have called help desk and explained the issue and asked them send correct LOD. every time I get the incorrect attachment. PLEASE MAKE SURE TO CHECK INSIDE THE DOCUMENT, PREPORETY NAME

Could please send LOD FOR HHLBAN00275721

This request is pending from March 2017.

Hi Team

I am writing on behalf of Mr ved praksh Jain regarding his home loan with you bank. The loan account numbers are HHLRHN00181652 HHLRHN00181654. We had requested for reduced interst rate in March 2017, the cheques of INR 11, 000 has been cleared on 28 Mar 17.
However the interest has not been reduced nnot heard anything back as well.

After multiple follow up as well no action has been taken. Please look into this and provide me an update asap.
Contact Details
Ved Prakash Jain
[protected]

Regards
Charu

I have taken loan against property from indiabulls and now i want to close my account but they charging forclosure.. As nhb and rbi guidelines totally waived forclosure on 2014.. Provision.. How the company go beyond rbi and in mail they written we not follow any rbi guidelines.. Please take action on indiabulls as they fraud and black money which income tax raid last year too

I bhushan dev has taken loan against property from indiabulls and paying emi on time. Now i want to close my loan but they charging forclosure on me as your rbi guidelines given waiver on it. As indiabulls had income tax raid last year too... Please take action and genuine customer they harras. Please waive my forclosure sir. I m middle class person.

Dear Sir/Mam
I Need a property loan against JDA (Jaipur Development Authority) property, approached India bulls on Tuesday (25 Apr 2017) & submitted all property & personal documents to Mr. Anil Kumar Yadav, Senior Sales Officer (C-Scheme, Jaipur Branch) over commitment of completion of all formalities in 7 working days but I am still facing a mental stress due to the non availability of Mr. Anil Kumar Yadav (Senior Sales Officer) over phone & unethical replies of Mr. Anil & his ASM, Mr. Rahul Nair, he says (words of Mr. Rahul Nair, ASM) : How Mr. Anil attend your phone if he is playing cricket with me (incidence of Saturday, 29 Apr 2017) & he cannot attend you today due to labor day off (incidence of today, 01 May 2017).

I came to you (Indiabulls) for better service & upto mark commitments, I had so much choices like HDFC, ICICI. Now I have regret why I chose Indiabulls.

Kindly take some step because this is initial stage of loan & your staff is so rude & informal behavior towards clients.

Kindly note down mobile no. of Mr. Anil Kumar Yadav (Senior Sales Officer, C-Scheme, Jaipur-302001) Branch & Nr, Rahul Nair (ASM, Jaipur) for ready reference.

Mr. Anil Kumar Yadav (Senior Sales Officer): [protected]
Mr. Rahul Nair (ASM, Jaipur) :-[protected]

Thanking You,
Arvind Sharma (730131- My APS ID Number)
Jaipur, Rajasthan
Mobile : [protected]

I applied for home loan on indiabulls on 4th march and Mr munish kumar who handle my case told me that your will receive cheque's after 3 days. And when i called for update then he ask me for more documents like my father, my brother documents. I submitted all documents like my father and my brother documents. After some days he asked me for add some security. So we submitted my father fd's as a security. Around 2 months passed and when i called him for update everytime he told me that please wait for 2-3 days more and you will get your sanction letter. Then i called to senior person Mr jagdeep and he told me that please collect your sanction letter from munish and when i talked to munish regarding sanction letter then every time he told me that collect me your letter tomorrow. 2 weeks was passed then i decided to stop processing for my loan and i collected my all documents from indiabulls regarding home loan which i was submitted. From last 2 months they told me that your loan is approved and you will received cheques with in 3-4 days but i received nothing. It was such a bad experience. they harassed me and totally waste my time. I suggest to everyone that please don't apply loan on indiabulls. They just waste your time and money. They just demanding for more and more documents.

Indiabulls Power is a top fraud company. It came with IPO in 2009 saying it is going to install six or seven projects. It collected thousands of crores from public and started the company purely on public money. After nine years since IPO it has destroyed huge amount of wealth of investors and is on the verge of bankruptcy. It is a real fraud and investors should stay away from such white collar frauds who loot public money. Sameer Gehlaut, Saurabh Mittal, Rajiv Rattan, Gagan Banga, Gaurav Toshkhani. After nine years only one project is completed and that too is idle with no demand. God should save investors from such **** like Indiabulls group.

I took two Home loans from Indiabulls Housing Finance. One loan was for 35 lakh and 2nd one for 11 lakh. Earlier they offered very low interest rate but they kept it increasing the rate as market rate fluctuated but rate were brought down. I have paid EMI for rate as much as 14% while market rate was 9.5% or below. They ask for large sum of money to bring this rate down. Many time they simply deny to bring down the rate.
Repayment of principal is very difficult. If you pay the principal, you still have to call them again and again to adjust the paid value in your account. They deducted full EMI even if I repaid principal.
Please be aware to take loan from these people. They will suck your blood out.
My loan account is HHLDCP00121756 at CP branch.