IndiaBulls Complaints & Reviews

Hi,

I have applied for Indiabulls home loan about 1-1/12 months ago. Their executive came to my home and collected all requied documents. After about 1 month later, they replied me that for some reasons my loan cannot be sanctioned. Now when I demanded them to return all my documents, they are not responding well. I have several times but there is not response. I am afraid of misusing of my documents. Please help me in this regard.

Thanks

While everyone is aware of fraudulent nature of IndiaBulls finance, Indiabulls real estate is not far behind. Investors, please beware of Indiabulls green project. The project does not have approval from leading banks nor do they have any agreement with the investor. The investors have been kept waiting for more than a year and still there is no sign of agreement. IB has already started demanding 20% payment with no provision of applying for loans. Please do not get lured into by the ads in newspaper. Please check the link to get update of the project

http://www.indianrealestateforum.com/mumbai/t-indiabulls-panvel-greens-7574-page...⇄

Dear Mr Banga CEO of indiabulls Housing Finance Ltd

After sending the an number of reminders i have not received any kind of satisfactory if you don't want settle and please tell me freely in writing so i can take the necessary and appropriate steps for the same.

Regards,
Ruchin Brahmbhatt

These company gives no National Holidays, Forces the employees to work on Sundays and late till nights (even beyond 12:00 am and sometimes working till 3-4 am). The company has no regards for its employees and do whats suits them best. The company gives holidays as per its convenience. Employees have worked on 26th January, 15th August, 2nd October. The sensitive areas for example is on 2nd October 2010 all theses companies branches are operational. Every employee no matter what has the right to get holidays on National holiday days and Sundays. I understand when there is lot of work and important deadlines to be met working on Sundays is fine but these companies has made it as norms. The company feels if they are paying its absolutely fair to suck the employees blood. They just don't care that the employees also have some personal/family life. If one complains then obviously the attitude of the company is if the omployees can't handle the pressure then they might as well leave. What a solution!!!!!!!

I request you to pelase take some action against these comapnies becasue in the name of meeting targets and beating their competitors they are making lives miserable for their employees!!!!!!!

Few of these companies are
1. Cholamandlam investment & finance company ltd.
2. Indiabulls Pvt Ltd
3. Vishal retial ltd

NEED HELP PLEASE !


Hi,

I bought a second hand vehicle (Mahindra Pickup, UP41-T-2504) on 20th may 2010 for 2.61 lacs from IndiaBulls Lucknow office - 13-A, Rana Pratap Marg, 13 Ground Floor, YMCA Building, Lucknow.

I was very happy, they gave me delivery of the vehicle on the second day after payment, and they told me that they will provide me papers in 2-3 days. I went ahead and invested Rs. 40,000.00 in improving the condition of vehicle (changing tyres, electrics, locks, door, denting, painting etc)......

When i got the papers, they told me that all i have to do is to the RTO and get it transferred in my name. So i went to RTO, when i went ahead to transfer the vehicle, the officer told me that there is an application from the first owner of the vehicle, that the vehicle was snatched by him from couple of hired goons by IndiaBulls and there is a court case going on in relation to the vehicle between First owner & India Bulls. So i cannot get the vehicle transferred.

So i went to IndiaBulls, they told me to wait and they said they will sort out the problem by providing me the consent from the first owner of the vehicle. Now the wait starts, i waited for more than three months but they could not do anything....so eventually after a lot of push, they said they will refund the money and they told me surrender the vehicle.

So i surrendered the vehicle on 19 July 2010 with a promise from them in writing that they will refund the money in ten days, but so far i have not received any money at all.

I need help from somebody to sort this situation and get my hard earned money back.

the staff whom i dealt with are:

1. Rominder Singh (Zonal Sales Head) - [protected] (Gurgaon Head Office - IndiaBulls)
2. Virendra Vikram Singh (Zonal Collection Manager)- [protected] (Lucknow Office - IndiaBulls)
3. Brijesh Singh - [protected] (Lucknow Office - IndiaBulls)
4. Sanjay Savant - [protected] (Gurgaon Head Office - IndiaBulls)
5. Nadeem khan - [protected] (Lucknow Office - IndiaBulls)


All these guys made me a fool, they sold me a vehicle which was in legal trouble already, which they were in knowledge of, which i cannot get transferred and they have taken the vehicle back and now my money is blocked for the past 4 months.

Thanking You,

Ankur Khattri
[protected], [protected], [protected]

Dear Sir/Madam,

I had applied for a home loan in Indiabulls Housing Finance Ltd on 22/06/2010 the cheque of PNB Cheque No.42755 of Rs.5510/- was had over to Indiabulls Housing Finance Ltd for the Processing.

I was told that your loan has being sanction and you will receive the sanction letter with in 2 to 3 days.
I had provided all the original documents to Indiabulls housing Finance ltd with Blank cheque of Kotak Mahindra Bank in Favoring of Indiabulls Housing Finance Limited. Cheque No. 000053, 000054, 000055, 000056, 000057, 000058 and a cash of Rs.6800/- for franking I had asked for the receipt but I was told that you will receive with the disbursement letter and further the agreement was done in India Bulls office.

After few days I was told that your loan is not sanction. I had asked the relationship manager for the rejection letter and the documents which was signed but he told me he can`t provide me the letter and the documents are with his executive.

I still haven’t received the amount of Rs. 6800/- and the Home loan Document which was signed.

Regards,
Sujit Bhanse
[protected]@hotmail.com

Dear Mr.Gagan Banga,

Can you reply my mail please

With best regards.



Dr.Vishva M. Handa






--- On Wed, 25/8/10, V M Handa <[protected]@yahoo.co.in> wrote:


From: V M Handa <[protected]@yahoo.co.in>
Subject: Fw: Out standing payment of Rs. 2000/- attached account details for speedy action pl
To: ceo.[protected]@indiabulls.com
Date: Wednesday, 25 August, 2010, 3:27 PM

Dear Gagan Banga ( Chief Executive Officer ),

Can you do something please?

do revert back.



With best regards.



Dr.Vishva M. Handa










--- On Sat, 14/8/10, V M Handa <[protected]@yahoo.co.in> wrote:


From: V M Handa <[protected]@yahoo.co.in>
Subject: Out standing payment of Rs. 2000/- attached account details for speedy action pl
To: sajid.[protected]@indiabulls.com
Date: Saturday, 14 August, 2010, 2:15 PM

Dear Mr. Sajid Khan,

This has reference to our discussions many a times, in the past,regarding the issue of refund of Rs.2000/- by Indiabulls.

Mr. Santosh Kumar your relationship manager got papers signed from me for opening an account which was never opened and I am no more interested in opening an account.

He took a ch of Rs.2000/- from me which he told me will not be encashed but will be credited to my account if and when it is opened.

However the ch was encashed from my Axis bank account No [protected] on 12.4.2010 and credited to Indiabulls.which account have been closed me a few months back.

Later I spoke to Mr. Santosh,Mr.Varun of India Bull and yourself good number of times.Over 4 months have passed I hope that the matter will now be resolved.


Now that your company is insisting for soft copy my operative bank account. The same is attached.

Please send the Refund ch. of Rs/- 2000 on my following address.

A-1303,Tiara residential complex,
Plot 184, Sector 13,
Kharghar,
Navi Mumbai,
Pin 410 210


With best regards.



Dr.Vishva M. Handa

Dear Concern

Ref PF A/c No. HR/GGN/28509/399

I applied for withdrawal of my Provident Fund amount may 2010 and till date neither I have received any update from the PF Office nor the amount has been transfered to my account. It is almost 6 months.

Kindly do the needful

Regards,
Gurmail Singh

On Mon, 6/9/10, V M Handa <[protected]@yahoo.co.in> wrote:


From: V M Handa <[protected]@yahoo.co.in>
Subject: Fw: Out standing payment of Rs. 2000/- attached account details for speedy action pl
To: ceo.[protected]@indiabulls.com
Date: Monday, 6 September, 2010, 1:53 PM



With best regards.



Dr.Vishva M. Handa






--- On Mon, 6/9/10, V M Handa <[protected]@yahoo.co.in> wrote:


From: V M Handa <[protected]@yahoo.co.in>
Subject: Fw: Out standing payment of Rs. 2000/- attached account details for speedy action pl
To: ceo.[protected]@indiabulls.com
Date: Monday, 6 September, 2010, 1:52 PM



--- On Fri, 3/9/10, V M Handa <[protected]@yahoo.co.in> wrote:


From: V M Handa <[protected]@yahoo.co.in>
Subject: Fw: Out standing payment of Rs. 2000/- attached account details for speedy action pl
To: ceo.[protected]@indiabulls.com
Date: Friday, 3 September, 2010, 12:29 PM








--- On Fri, 3/9/10, V M Handa <[protected]@yahoo.co.in> wrote:


From: V M Handa <[protected]@yahoo.co.in>
Subject: Fw: Out standing payment of Rs. 2000/- attached account details for speedy action pl
To: ceo.[protected]@indiabulls.com
Date: Friday, 3 September, 2010, 11:44 AM



--- On Fri, 3/9/10, V M Handa <[protected]@yahoo.co.in> wrote:


From: V M Handa <[protected]@yahoo.co.in>
Subject: Fw: Out standing payment of Rs. 2000/- attached account details for speedy action pl
To: ceo.[protected]@indiabulls.com
Date: Friday, 3 September, 2010, 11:43 AM





--- On Fri, 3/9/10, V M Handa <[protected]@yahoo.co.in> wrote:


From: V M Handa <[protected]@yahoo.co.in>
Subject: Fw: Out standing payment of Rs. 2000/- attached account details for speedy action pl
To: ceo.[protected]@indiabulls.com
Date: Friday, 3 September, 2010, 11:43 AM








--- On Fri, 3/9/10, V M Handa <[protected]@yahoo.co.in> wrote:


From: V M Handa <[protected]@yahoo.co.in>
Subject: Fw: Out standing payment of Rs. 2000/- attached account details for speedy action pl
To: ceo.[protected]@indiabulls.com
Date: Friday, 3 September, 2010, 11:43 AM








--- On Fri, 3/9/10, V M Handa <[protected]@yahoo.co.in> wrote:


From: V M Handa <[protected]@yahoo.co.in>
Subject: Fw: Out standing payment of Rs. 2000/- attached account details for speedy action pl
To: ceo.[protected]@indiabulls.com
Date: Friday, 3 September, 2010, 11:42 AM


Dear Mr.Gagan Banga,

Can you reply my mail please

With best regards.



Dr.Vishva M. Handa






--- On Wed, 25/8/10, V M Handa <[protected]@yahoo.co.in> wrote:


From: V M Handa <[protected]@yahoo.co.in>
Subject: Fw: Out standing payment of Rs. 2000/- attached account details for speedy action pl
To: ceo.[protected]@indiabulls.com
Date: Wednesday, 25 August, 2010, 3:27 PM

Dear Gagan Banga ( Chief Executive Officer ),

Can you do something please?

do revert back.



With best regards.



Dr.Vishva M. Handa










--- On Sat, 14/8/10, V M Handa <[protected]@yahoo.co.in> wrote:


From: V M Handa <[protected]@yahoo.co.in>
Subject: Out standing payment of Rs. 2000/- attached account details for speedy action pl
To: sajid.[protected]@indiabulls.com
Date: Saturday, 14 August, 2010, 2:15 PM

Dear Mr. Sajid Khan,

This has reference to our discussions many a times, in the past,regarding the issue of refund of Rs.2000/- by Indiabulls.

Mr. Santosh Kumar your relationship manager got papers signed from me for opening an account which was never opened and I am no more interested in opening an account.

He took a ch of Rs.2000/- from me which he told me will not be encashed but will be credited to my account if and when it is opened.

However the ch was encashed from my Axis bank account No [protected] on 12.4.2010 and credited to Indiabulls.which account have been closed me a few months back.

Later I spoke to Mr. Santosh,Mr.Varun of India Bull and yourself good number of times.Over 4 months have passed I hope that the matter will now be resolved.


Now that your company is insisting for soft copy my operative bank account. The same is attached.

Please send the Refund ch. of Rs/- 2000 on my following address.

A-1303,Tiara residential complex,
Plot 184, Sector 13,
Kharghar,
Navi Mumbai,
Pin 410 210


With best regards.



Dr.Vishva M. Handa

Myself Vishal Jogi from Ahmedabad, I have applied for housing loan in Indiabulls, Ashram Road, Ahmedabad before more than 30 days. I have given all documents of property & mine financials, I given chq. for processing fees of Rs. 5515/- with commitment that my chq. will deposit once I will get loan sectioned and after my confirmation. But chq, deposited without my concern and reject my loan on very last moment.

I got 2 sectioned letters, one is for maximum loan amount offer and second is based on property amount offer. I moved with further process and after got 4 times confirmation from Sales Manager Mr. Sumit Sami and Sales Executive Mr. Amin Pattni I given token amount to seller and difference amount. As instructed submitted advance/token agreement to get loan chq.

STILL WAITING FOR LOAN CHEQUE and getting excuses on daily basis by Mr. Amin and Mr. Sumit, after that I was contacted Mr. Alok (Branch Manager) he also given false commitment that my loan will approve today night and bla-bla. But after wasting my time I have contact RSM Mr. Piyush and still waiting for real feedback and loan amount chq. since last couple of days.

I was followed all procedure and given all support to get the loan, but there is POOR response all the time, Getting always FALSE commitments.

I just want my processing fees back with all my documents (including property docs) and authorized latter to indicate cause of Loan REJECTION on very last moment.

Indian Consumer
Delhi
Dear/sir


What action have you taken about the grievances raised with regards to INDIABULL bank home loans ?
Bank Representatives making Fool to me 4-5 Months,

Do you take any actions or is this just a Mail -?
Mr.MONU RATRA
E-Mail- [protected]@indiabulls.com
Mr.BANGA
E-mail- [protected]@indiabulls.com

Regards,
Consumer
Thank you,
Anirban kumar Biswas

A employee name "Arvind" from Indiabulls came accross and requested me to open demat a/c(ICICI) as well as PAN card.

Three of my friends decided to open bank a/c(ICICI) as well as we applied for the PAN card with the same person.I have given him around 5300/- along with the required documents. Its been now two months I haven't receive anything and his mobile also switch off for last 3 weeks.

Before this, the guy was playing around with us that we will get it today tomorrow, day after tomorrow or end of this month. But finally he told us that we will get it on 2nd of July and from that day his mobile is switched off, no sign of him.

The most stupid things I have even done with this person is that I haven't bother about his office address or his employee ID because I really needed the PAN card and the a/c to be open.

At the begining he told me that he is working with Indiabulls (Bangalore).

Is there any way where I can find this guy or Indiabulls itself can help me out on this?? as I dont know the exact branch where he was working, can I go to any other branch of Indiabulls to raise my complains?

Employee Details :
Arvind - +91-[protected]


My Number
Souvit Singharoy
+91-[protected]

I have applied for home loan in indiabulls. Their repersentative Mr. Arun Chaudhary collected my all documents. & Collecred Rs 5515/- Cheque to me.After all verification he told me that your all documents & verification is ok & we will provide you your home loan amount within 3 days. According this comments i have done my home loan agreement .& pay 5 lack amount in advane to seller. Now 3 days has beeen gone & Mr. Arun not pickecd my phone. & also i have talked to his boss ho is telling that your loan application is rejected.Now what should i do. i have invested my 5 lacs my all life earning.Please let me know the reason & get me convinced for what reason my loan is rejected.

I have applied for a home loan in Indiabulls Home Loan. It has approved my home loan and encashed my cheque worth Rs.5510.00 which was meant for processing fee. When I visited its Lajpat Nagar - II offifce, I came to know that the project for which I applied homeloan is not approved. This is utter nonsense. Indiabulls has not given me back the above amount of Rs. 5510/- and it has cleverly grabbed my hard-earned money. Indiabulls is into such practice for a long time. Please do not believe in such a big corporate name. They are nothing but a traitor. Can anybody help me !

Badrinath Jha ([protected])

Hi

MY name is Ajaykumar Sirimalla and i was to apply a home loan through indiabulls home finance Panjagutt branch Hyderabad .They had intiially approved my loan for Rs 13lakhs and taken all my documents and one cheque stating that this is the regular procedure.They were supposed to charge me a processing fees of Rs.5,510 for the loan amount against disbursement but instead of doing so before they could even disburse my loan of 13 lakhs they deducted Rs 5510/- as processing fees out of my ICICI bank a/c using the cheque i had given.Then they rejected my loan stating that they did not get a positive report about my property.If they did not give me the loan for any reason what right they have to deduct the processing fees, I have contacted them several times and had not got any response from them and they do not even answer my calls.

There is a sales Executive Mr . T. Satyanarayana Phone number [protected] who is not responding to my calls , he is the person who have confirmed all the submitted documents correct and your loan will be processed and released , later he is saying loan is regected , they can not refund processing fee and giving me all false stories and not returning even my property and personal documents.

I am sending you the details of the transaction which india bulls had done in to my account
On 08/june/2010 they had with draw from my a/c of RS.5510/- with . chq. no.369353

This was the cheque given to them , that they were supposed to deposite after disbursement of home loan .

So even before they processed my loan they deposited my cheque and took this amount out of my account.

I have never expected company like IndiaBulls is so irresponsible towards customers , I have been calling everyday but their executive not even taking my call.

I am also planning to move Consumer court.

Regards

Ajay Kumar Sirimalla

When I visited IndiaBulls Securities Ltd office at Gurgon , the RM (Sushama Devi) while disclosing all terms and conditions,procedures and charges related to my account told that brokerage percentage at Intraday at NSE will be 2 paise and 20 paise of the the transaction amount. After a couple of weeks of trading with them I noticed in the Electronic Contract Notes that they were charging the brokerage at the rate of 4.5 paise. The very next day I brought this issue to my RM's notice and she was equally surprised to know. She told me that for equities below RS 100 the brokrage is 4.5 paise but when I suggest that she never told me about it she pretend ignorance and she said can't help and when I requested her to talk to she said nothing will happen talking to seniors and latter her another collegue (Ashish) called me that nothing will happen talking to seniors because only junior can help you. I wondered if I was talking to people at a private company or any govt. office people.

Latter while talking to the Branch manager ,Anshu,promised that he will re-imburse the excess brokrage charged and promised that this will never happen again but till date I have not received the re-immbursement nor any comments from Anshu or any other person

To make the thing worst I purchased 40 TCS on margin and paid the money with checque worth 35,000/- but the RM (Sushma) start giving me excuse that money was not transfered by bank and it cann't be cleared because there were some RBI audit in banks and when I confirmed with ICICI bank they said we are clearing every transaction and have not stopped working and didn't recieved your checque, so can't clear it.

This highlights the inefficiency in regard to disclosure of vital information at IndiaBulls and customer harassment after opening an account with them.With my bitter experience I am sure to give a poor rating to IndiaBulls Securities Ltd.and would never ever recommend them to any one.

I look forward for an urgent and appropriate action against IndiaBulls so that next time onwards they are loud and clear in telling their correct charges before opening the account. Hope the authorities would take note of my request.

Hi,

I applied for home loans at indiabulls office, in lajpat nagar. I met Mr. Sunil Sharma.
He charged Rs. 12,500 from me, and even after that, he did not get my home loan approved.
They are not giving my money back.
what should i do? Can someone help?

I believe indiabulls is a cheating company. They're fraud and pathetic.
They have no identities.

I had a very bad experience with Indiabulls Housing Finance limited. I booked a flat in noida, and applied for home loans from indiabulls.
I met Mr. Sunil Kumar Sharma ([protected]), who was indiabulls agent placed at lajpat nagar office.
He works under Mr. Prashant Gupta who is in same office.
These guyz are fraud. They sanctioned my home loan in the month of april. They took my allotment letter and all the documents and promised me that my payment will be disubrsed in 7 days.
And i'm still waiting for the disbursment. They are not making the payment to the builder. And the builder is putting late payment charges on me.
Even the information on my sanction letter is fake. They have mentioned a contact person's name and phone number, which doesn't exist.
I'm putting a case against Indiabulls.
People please beware of indiabulls. This is completely fake.

sir,
I wanted to buy a home with Janapriya nile valley project,for this I wanted to review my financial profile to know the loan amount I would be eligible for.

A sales executive venugopal from indiabulls realestate offerred to help to look after financicial profile verification only not for loan disbursement.

He took all the required documents and a cheque of Rs. 5510 said he would get this done in 3 working days.

After 10days of constant phonecalls , he told us the loan amount.

Meanwhile janapriya project has increased thier base price and it was an additional burden of 2 more lakhs.

we did not get any letter from indiabulls nor any phone call that they have sanctioned a loan.

After 20days they have debited the cheque , when I called and asked venugopal about this he said this was loan disbursement charges.

I did not even sign any document from indiabulls regarding sanction of loan nor any intimation how can they debit the cheque.

please look into this sir.

Thank you

uday kiran
[protected]

To,
The Branch Manager,
Indiabulls,Dalhousie
Kolkata 700001 Ref:Trading Account No. KT6794

Dear Sir,

I would like to let you know that I had purchased Bank Nifty under my above clint code.Due to margin short fall you claimed Rs.27000 chaque from me and I paid you an Axis Bank Ltd ch. No.847866 which was dr.from my S.B A/c.dt.22/5/2010.Again I got a message and a phone call which said that I would have to pay again Rs.8600 immediately otherwise my A/c. would be squared up as margin short fall.
I got surprised that even after selling the Bank Nifty and payment of Rs.27000, I was informed about margin short fall.
When I demanded the clarification I was told that my chaque was not yet been credited to my A/c.as it was suspected to have been dishonored.Also I was told to deposit Rs.8600 to save my A/c.from being squared up so I paid a cheque Rs.8600 of Axis Bank Ltd. ch. No.847667.
In the meantime on enquiring at the Bank I learnt that the earlier ch.of Rs.27000 had got honoured dt.22/05/2010.
Now after the earlier cheque hounoured I fear that the second ch. issued might get dishonoured.In this regaurd, I shall not be held responsible.
I am sorry to inform that it has created a total mess in my A/c. since I had to issue cheques twice for the same transaction even though the first ch.was being encashed . If this is the case,then I am sorry to say that I would be forced to wind up my business with you .
Thanking you ,
Kaustav Ghosh