IndiaBulls Complaints & Reviews

Dear sir,

My wife has availed housing loan from india bulls and i am co applicant during 2013 july and the account no is housing loan account no hhlann00164531. We have purchased an apartment from vgn in avadi and they are suppose to hand over the apartment in april 2015 but till now there no sign of hand over. We have been paying only interest for last 3 years.

Due to some medical emergency i couldnt pay for last 2 to 3 months regularly. I intimated this to one mr. Bala who is the collection manager of india bulls and to their branch manager and told them that i am expecting some money before october 15th 2016 and will clearing the entire emi up to date. As per the statement i have cleared all the dues up to date. But he started calling my father (Who is a irrelevant person) and started troubling him i did his by pass surgery 5 years before. Mr. Bala gave his personal account also told him to transfer money to his personal account. He kept on calling my father and gave him unnecessary tension. Then he called my wife and keep on calling calling and told her that we will take legal action against her. Then he started calling me and told me that i a cheater and i have intention to cheat their company. I fail to understand that i have been repaying this loan for last 3 years and why would i have intention to cheat. More over he started sending person directly and he barged inside our house with out even getting permission when my wife and parents were at home and came directly inside and was sitting at sofa. Why so much of pressure for this when i told them clearly that i would make payment. Bala called me and connected to some retired dsp mr. Jayakrishnan. And they were forcing me to come to their santhom branch to meet some body there. Too much of tension and entire family affected because of this. I would require your support on why this being happened and this should not continue happening for other customers my sincere request. Kindly advise me on course of action

I have attached a reciept for your reference

Thanks
Venkatesh
[protected]

Interest rate for current customer is still 10.55% much more than others like HDFC giving to its current customers 9.5% or less.Company must think of such things otherwise no one come for the loan to such company .most of the banks have reduced floating interst rates to its current customers also but indiabulls in passing its benefits to its old customers.Its disbursal is also late causing late fine from builder at the time of possession.no option other than switching it to other bank home loan.

I have booked flat in Jan. 2013 and paid 20% cost of flat since then there were 2 times project plan got changed. Now promoter has sent a new cost sheet. As per the cost sheet flat area has been increased and demanded ~2.5 lakhs more than earlier price and 5 lakhs more at the time of possession. Surprisingly there is no change in carpet area and other charges are calculated as per new flat area which is not carpet area. If you calculate carpet...

Respected Sir,
The company of my husband has taken some loan from the above mentioned company. My husband has informed me that the loan is of approximtely Rs. 5.5 crores and 3-4 EMIs are pending. My husband also informed me that the company is making all possible efforts to clear the dues as early as possible.

2. Today at the above mentioned time and place one official of Indiabulls named Mr. Shravan came to our residence and used very abusive language towards me. Through the intercom he talked to me in a very abusive manner. I requested him to contact the company since I am not involved in the affairs of the company. I also requested him not to use such abusive language. However, he replied that this is the only language you understand; he further mentioned that they have connections with the goons of the area and they can cause any harm to me and my family.

3. After hearing such abusive language for the first time in my life I am in absolute trauma and in deep depression. This behavior of the Indiabulls official amounts to outraging the modesty of a woman and also giving threats.

4. I humbly request you to take appropriate action against the culprit official at the earliest and ensure safety of myself and my family.

For this act of kindness I shall remain ever grateful to you.

Thanking You,
Anju Jakhmola
[protected]@gmail.com

I am registered owner of Office/shop no T-14/A India bulls mega mall, Vadodara but i have not received allotment letter from india bulls for my allotted parking space. When i am trying to reach local office personnel they are not responding at all. They always said that we have forwarded your complaint to HO but no response since long. Further more they are not ready to accept any physical letter and not giving any answers in writing. I feel that why did i purchase office from India bulls where there is no professionalize exists.

Hi,

The fraud was made by mr. Asis ghosh rm from indiabulls trade from lee road kolkata, told us from personal number we are selling your share please confirm we stopped him he said i am there no issue as confirmation given after few confirmation this guy made a loss of all shares

When i spoke to this guy he is avoiding and i get a call from indiabulls senior manager he started abusing infront the client who is my father and disconnected the call.

A call came on wed 24th aug from sr. Manager souvik chatterjee from indiabulls tried to stop us from filling fir and said do whatever u want we have source to stop you, i am not liable to talk to you

This happened 5th july onwards and made a loss of 79000/- and not informed

I wanted to open a trading and demat account with indiabulls ventures (Lower parel) so i contacted them regarding it. My customer excutive manager is vikram shende and he has taken more than three months in opening my account. I kept on calling him after every other day to inquire about the progress of my account opening. He always gave the same answer that it take just 2 more days to open your account. Inspite of my repeated warnings to him which i started giving him after 2 months he was very casual about them. Now after 3 full months i decided to take a firm stand and give him a final warning. He started arguing and told me that i am not doing him a favour opening my account in indiabulls and told me to do whatever i want. I am highly frustated with the delay and such misbehaviour of the customer relationship executive.

Corrupted staff and company, money eater staff

I applied for home loan with indiabulls. one of staff contacted with me and i told all the details about the property, he committed that he will provide the home loan. after taken the documents and processing fee, he told company can not provide loan on your property.

When i asked for refund my processing fee. he said we cant refund.

So they eaten my money. corrupted company.

I have a loan against home property with account no. hhlmer00209385 and an insurance policy against the loan through icici lombard and the give me an a/c no. hhlmer00209390 with rs. 882 premium p/m.

I have loan of amount rs. 1450000 (a/c no. hhlmer[protected] and an insurance of rs 41353

Now i cancelled my insurance policy from icici lombard but still indiabulls deduct of rs. 882 from my bank account.

As discussed with indiabulls customer care with reference no. 00801603 they told me that the indiabulls give rs. 41353 to icici lombard.

Now i have a question, if a conman man take a loan and insurance the why a loan company give amount to insurance company.

I had booked a 2bhk flat at indiabulls greens panvel phase ii in may 2013. i paid 20% of the flat cost for the booking. the project was to commence in 6 months but did not.in november 2014 ib informed that they would refund the booking amount with 12% interest or i could stay invested. i decided to stay invested.in december 2015 ib informed that all approvals have being received and work would start shortly. they informed new flat number and additional cost of @ 5 lakh. i decided to cancel my booking and asked for a refund. ib informed me to submit various documents for the same. after submitting the documents in february 2016 they informed me by email in may 2016 that they will deduct 10% of the flat cost plus service charges. after various emails they have informed that they will deduct 5%.
Please advise how to proceed.

Dear sir/madam
I am a nri customer who wanted to invest in a property in india in 2010. I chose indiabulls as i heard about their reputation in london events and you came across one of those few ones who dont ask their customer to pay black money. When i first booked the apartment 10g1-2006 in october 2010, i was given may 2012 as timelines. We are now sitting in june 2016, feeling robbed by your organisation.

What is my complaint about?
- timelines have slipped from may 2012 to dec 2012 to may 2013 to dec 2013 to... To june 2016 to... Not once i received a proactive updates.
- i visit india once a year, and i make a point to visit indiabulls parel office. "not one person" dealing with this property has been able to provide me close to honest update on the property, ever.
- i have dropped several emails in the past to customer care and even called them. Regretfully, everyone at the desk are naive and give me standard response - "in 6 to 8 months time. That is what we are told sir". I suggest, please try calling them some day as a customer. You will understand what i mean.
- i know the legal system in india and i would be a fool to waste time and money on filing any case against the company. Surely i wont do that.

My expectation is -
I feel completely robbed. It is my hard earned income that is stuck with you. It is my hard earned income, out of which i am paying interest to hdfc for 85% of the money i have paid. So my expectation is,

I am pleading to give me below information.
1. By when will the property be ready. If you dont know, please tell me that i dont know and the development is suspended for some reason. I can take that as an answer
2. Do i have an option to get my money back. I dont want to gain anything, i dont want to loose anything. Just simply want my money back. Is this possible?

It is people like me and experiences like these, who tell investors to not invest in indian real estate. Please tell me what to expect.

One very disappointed customer, awaiting your response.
Abhinav rao

Dear Sir,

I have been following up for account closure and transfer of my shares to India Infoline since Mar 2016 but this relationship manager Mr. Rahul Rakshe is extending the process with some lame excuse or other and finally communicating that form has been rejected since client master has not been submitted, which is a completely false statement since I have submitted all required document in hard as well as soft copy, I have whats app chat back up for all communication.

I am sorry to say but it seems relationship manager has somehow misplaced my documents or has some vested interest because of which he is behaving in such unethical way.

I am completely fed up with useless service of India bulls and request prompt action.

Please take action or guide me to top authority for escalating the matter.

I am not going to accept such unethical and fradulent way of dealing with customer.

Best Regards,
Prashant Mishra
[protected]
India bulls Client ID - CPU8672

My name is kumar neel kant and i was applied for the home loan in indiabulls. On 10th jan 2016 and a communication person (Salesman) named shambhu sharan chaudhary (Having code # 600437) contact nos. [protected] & [protected] has taken my all information in the form of documents (Hard/soft) copy as well and processing fee of rs 1150/- through cheque # 000003 and the cheque amount is also credited from my account on 27th jan-2016.

But the surprise is this, that no sms call or mail where come to me till 20th feb-2016 after this i was start tracing with agent mr. Chaudhry, he told that some family problem he was out for city, when i traced the other person name mr. Vipin (Vipin. [protected]@gmail.com) the details about my applied home loan and when i was investigate the things and approach i was got information that, they don't have received the property chain paper, which i already hand over to mr. Chaudhary and after some time they reject my application.

I called to mr. Chaudhary many time but maximum time he not picking my phone, 1 time i callad for return my documents, so the reply kindly drop the mail to vipin. [protected]@indiabulla.com, & raj. [protected]@indiabulls.com for this regards.

I drop the mail to same id on 03rd may 2016, but i don't have received any communication from india bulls in this regards.


So i am requesting to please help for refund my amount with all my documents.

I am requesting all of you that this indiabulls is totally a fraud and cheater company they will take all your information and may sold it in market as well. So do not try to take home loans for this company.

Dear Sir,
i got a mail from indiabulls that there is a home loan mela from 21 to 27 Jan 2016 in Richmond road and Malleshwaram branch in which there is Nil processing fees for transferring of home loan account. On 26 Jan 2016, i applied for transfer of my home loan account to indiabulls(Handed over my documents to Mr Vishnu Pandey and he assured me that only Rs 650 will be charged for adm fees), for which i got sanction letter of amount Rs 229916 (including Admin Fees of Rs 650 and Trx handling fees of Rs 2863) on 29 Jan 2016 in their Richmond Road Branch. when i asked to Mr Vishnu regarding Rs 2863, he told me that he forgot to tell about this amount to me and my 2 other friends who already applied for transfer of their home loan along with me.
On 02 Feb 2016, Mr Vishnu called me in his branch for handing over the cheque to my previous finance company (India Infoline Housing Finance Ltd). I reached in his office around 1515 Hrs along with my other 2 friends but even after waiting till 1815 Hrs there, we didn't got any cheque and after that vishnu told us that is some server problem persist thats why today its not possible. On 03 Feb 2016, i got a call from Mr Vishu and he told me that cheque is ready so please come to India Infoline Housing Finance Ltd, silkboard branch for handing over it. So around 1545 hrs, we (myself and Mr Vishnu and my 2 other friends) handed over that cheque no 780899 of Rs 2295603 along with my cheque no 076290 for left over amount to India Infoline Housing Finance Ltd, silkboard branch.
On 05 Feb 2016, i got a message from indiabulls in my mobile phone that your's first EMI of Rs 3008 is due. When i contacted to Customer care regarding this matter. He told me that "Ours cheque releasing date is 31 Jan 2016 so indiabull is taking interest from that date only, indiabull don't bother when you got this cheque or when the amount is actually deducted from indiabull account"
On 06 Feb 2016, i got a message from India Infoline Housing Finance Ltd that both the cheque (780899 and 076290) are encashed successfully which indicates thats the amount which indiabulls gave me was encashed on 06 Feb 2016 then why indiabulls taking interest from 31 Jan 2016 when indiabulls actually handed over that cheque to me and my previous bank on 03 Feb 2016 and which is encashed on 06 Feb 2016? Moreover when i already paid interest to my previous finance company till 06 Feb 2016 then why i paid to indiabulls too?
Moreover before taking this loan i already asked to Mr vishnu in front of my 2 friends and representative of India infoline, when indiabull will start taking interest then he also told me that when this amount actually deducted from indiabulls account that day onward indiabull will start taking interest.
There are few questions to indiabulls:
(1) Why indiabulls is taking interest from the date of issue of cheque when you actually handed over that cheque on 03 Feb 2016 and encashment done on 06 Feb 2016. If your's cheque was actually ready on 31 Jan 2016 then why don't you handed over that cheque on that day only to me moreover your branch was failured to handover that cheque on 02 Feb 2016 also, which you confirm from your's richmond Road branch sales manager and Mr Vishnu Pandey. Its your's branch fault not ours.
(2) Why don't you give proper training to yours staff. Initially Mr Vishnu told me that there is no charges other than Rs 650 but later on he added Rs 2863. when i asked him about it that time he told me that he forgot to tell. Secondly he only told me that indiabulls will take interest from the day when this cheque got encashed not from the date of issue.
It's the shameful thing to know that indiabulls who tell us that we are the second largest finance company and fastest growing finance company in their TV Advertisement is doing such type of fraud with their customers.
Last but not the least, its my humble request to Indiabulls please take interest from the date of encashment of cheque i.e. from 06 Feb 2016 not from the date of issue else please tell me the procedure to transfer the home loan account as i don't want to stay in that finance company who work in a fraud manners.

Attached: (1) Sanction Letter issued by Indiabull
(2) Cheque issued by Indiabull dated 31 Jan 16
(3) Acknowledgment given by India Infoline Housing Finance Ltd dated 03 Feb 2016.
(4) Indiabulls Apps View of EMI Due Date and amount


Regards,
sunil bhandari (HHLBAN[protected]
[protected]
[protected]

Hi, we were tryging to take housing loan for 2012 with india bulls. but the agent Vishal Sharma kept on asking for processing fees. approxihe took around Rs. 1.5 Lakhs for processing and later disappeared. since his office was in bhayander, we registered his complaint in the mira bhayander police station by submitting a letter but no revert yet

I have taken home loan from Indiabulls Housing Finance Ltd, vide Home loan a/c no. HHLVRA00228735 insurance policy taken from hdfc home insurance. till date no any correspondence made by the hdfc neither on my residential address nor on my email, which is [protected]@gmail.com. Kindly email the policy details on my email- [protected]@gmail.com and send hard copy to my home address 505, bldg no. 7, Shree shashwat, global city, avenue A-4, near Agarwal Lifestyle, virar (W), Thane-401305

Dear Team Recently i have takeover my loan from bank of India to individuals they have forced and compel and make condition for loan and i an not interested in insurance policy . they have spend my RS- 50000 in insurance policy i have no need for this kind of policy i have already fund problem due to need for fund i have shift my loan this kind of miss sales are spoil the reputation of your group . so please cancel the policy and refund the amount my loan acount no -HHLHIS00240887

This is with reference to the high interest rates on my home loan with Indiabulls. - loan ref No : HHLLOW00160224. While market is already offering rates at low as 9.75%, My loan is still at 10.6% I have written to Indiabulls on the subject, however they have shared with me details of cost which I should incur in order to get lower rate. My home loan is a floating rate loan and the company has no explanation on why the loan rate has been kept constant inspite of base rate falling. Regards Devam Chandra [protected]

I am on wheelchair and my Father has expired and his shares are held by India bulls and they are not transferring them to my mothers account even though I have submitted all the required forms like affidavit, indemnity bond, no objection certificates from all legal heirs, share transmission form. They have rejected my papers on frivolous ground like not mentioning account number, name of shares even though I have attached the shareholdings. When I asked them to send my papers so I can modify them, they lost the papers and blame Indian Post for the loss of papers. I am on wheelchair and I spent a lot of money, effort and time to get all the papers in prescribed format but instead of transferring my fathers shares to my mothers name, India bulls not only lost my papers but are showing utter disregard towards my situation. I don't have a car so have to take a taxi cab of 1000rs for every visit to court and bank. I collected the papers after spending 10, 000rs on 10 such rides. I don't want Indiabulls to just take my fathers hard earned shares.I have also complained to SEBI against such fraud. My complaint number is SEBIE/HY15/0000251/1 Has India bulls become such a large company by looting dead people of their shares? Who is responsible for this? Is sameer gehlaut responsible? Will he step in?

They cheated all the people who had invested in their vizag venture, even after paying 20% of the amount and close to being a year there is no update or info of the project . Buyers please stay away from there ventures and if you fall for their marketing pitch, at least ensure to go through their terms and agreements before you are prepared to lose your hard earned money.