[Resolved]  Indian Overseas Bank — DR.RAJA & PP SCAAN complaint

Address:

Erode, Tamil Nadu

Sir this is DR.P.RAJA from Erode city of Tamilandu, who had and having various accounts and loans in IOB, Erode main branch from 2005 onwards and given a transaction of more than 10 crores for more than 6 years, but now the problem which i am facind due to IOB of same branch is not explainable and everything was listed below, this is mainly to prevent every other customers who are greatly affected due to the iob banks through out the country, if this happens to a doctor in profession who is doing transaction of more than 10 crores yearly, then no need to think about any of the ordinary customers in india, if they can prove the datas given below is false then they can file a case against at any grievience law, otherwise i have all rights to do the same. FIRST I LIKE TO EXPLAIN WHAT WAS HAPPENNED FROM THE DAY ONE OF MY CARRIER AND HOWTHE IOB IS CHEATED ME.. 1. I have completed my higher studies in radiology (DMRD) in chidambaram during end of 2002. 2.I have joined as consultant in erode KMCH hospital during the mid of 2003 and worked thier as full time consultant for next 4 years. 3.During 2005, when the reliance entered into oil industry and planned to open many of thier petrol bunk retail outlets, hence at that time i have taken the dealership of reliance with petrol, diesel and auto lpg, which i am the first person to started autolpg in tamilnadu, at that time due to time issue i have resigned my full time job in erode kmch hospital and started working as part time consultant for some time, then i resigned my job completely and started consentrating in my petrol bunk and i was the highest seller in erode at that time. 4.Reliance company itself arranged a loan for every dealer with tri partiate agreement with the least interest rate of 60 paise based on the availability of every bunks investment, for our bunk we have taken 92 lakhs as term loan and 25 lacks as cc loan.After couple of years when the subsidy problems raised from government, the private oil companies were not able to supply the goods constantly for the prices of other government oil companies, hence reliance advised their dealers to release them from tri-partiate agreement to bi-partiate, because most of the dealers were not repaid the loans regularly due to the stoppage of sales, other than 5 dealers in tamilnadu, which we are one of the dealer repaying regularly even without the sales, at that time our oustanding is only 45 lakhs in term loan.. 5. If we come out from tri-partiate agreement, then the interest rates comes to regular rates, hence the chief manager of iob MR.palanisamy asked us to come to thier iob main branch along with the other loan, which was availed for our other buisness, bajaj 3 wheeler exclusive auto dealderships for 6 districts, which we had more than 5 showrooms in tamilnadu. 6. After taking over all the loans, one day he called and asked me that there is a deficit of 10 lacks to achieve his targets for his insurance of that year, which most of the iob bank managers now-a-days duty is only to catch the insurance, deposits and to sell golds, did anyone of them can say no.Then i told him that i dont have money at that time because of closure of reliance sales and having only 15 lacks to take auto rickshaw loads and he pegged me that somehow he has to achieve his target of that year, so he told that he will deduct 10 lacks of money from my account and within couple of days he will provide a loan of 8, 40, 000, so that they will deduct every month from my account and the loan will be closed within next 2 years and the insurance of 10 lacks remain for u he said, and he forced to purchase a gold too.due to the friendship i agreed to do so and he did the same and i availed a loan of 8, 40, 000 from my money itself and purchased gold too. 7. He was not kept his promise, he deducted the first installment on very next day for the loan provided by him from my insurance deposits, then second deduction was done only after 4 months of first installment, then again he deduct the third installment after 3 months only, like this it was continued for next 1 year, but till end of closing that loan was charged additional interest by them for every month, which i enclosed now now.Then i have taken a car loan of around 5 lacks before palanisamy got transferred along with promotion to Hong kong, then the next chief manager who was taken over is govardhanan from hyderabad totally forget this loan or not aware of this loan, which is deliberately his mistake and starting deducting both the loans once in a while when ever they remembers, how a customer will be responsible for that, if there is no money in customers account ok. otherwise how customer will be responsible.but they deducted the over due interest every month from my account for the mistake which they have done. For both the loans the way they deducted was enclosed along with this mail. 8. In my bajaj dealership account the cc loan which was taken is 3 crores as cc loan with the interest rate of 12.5%, it means you can calculate how much the interest has to be charged every month, likeky around 1, 30, 00, 000, initially they were deducting the same but after some period they started deducting more than 4, 40, 00, 000, even if you are richest person in india will not be possible to pay and run a buisness, due to my accountant negligence and unavailability of enough time to check it properly every month they were deducted the said, which i have enough proof with me, later on when i checked and repeated letter submitted to them, they are ready to accepted that and not refunded it to us.Hence finally without any other way to go i have sent a legal notice to them, they called me one day when there DGM visited thier RM office and advised me to take back the legal action and they will sanction the new loan which was already about to sanction in canara bank and they have sent a letter to get a credit opinion for sanctioning a loan of around 8 crores for my new medical venture.But the only condition which they told me is to withdraw the legal action and the additional interest which was charged will not give back because their auditing of that year was over, i accepted for that too.at that time one of thier photographer was continously taking a snaps of me when i was inside regional mangaer room, later i asked him why u r taking so many snaps, he replied that there is a instructions to do so, but one thing they forgott, when i am going as a indidual person in to their room with what are all safetys i would have carried along with me at that time.i have the entire recordings of that interactions happened in that room.Finally after their work everything gets over, which they took around more than 5 months, which they made me to run behind them as a beggar, finally after getting their works they rejected my loans, even i dont bother about it but the following things which they made to run behind every bankers now is hurted me a lot, even as reputed doctor in a place like erode city. 8. The default which they made in deducting from the loan which was given from my insurance amount to get promotion for them and the car loan which was deducted irregularly by them, both now was reflected in sibil, which was affected my reputed carrier. 9. Finally last week around 20th of this month sep 2014, when i approached the chief manager who was appointed from hyderabad, replied me sir there there is no issue now we produce a letter stating that your loans are cleared and there is no default in your both the accounts, i dontt know what he is trying to tell that, i should take the certificate which they are issuing now and i should tell each and every bank, it means almost more than 10 banks were and all we are given our profile that we should go and tell them that we are not culprit, we are genuine, we dont have any default, .and we should peg them, hence please issue us the loan.May be they are used to it but we are not.Now tell me what should i do. i am in final stage to take it up the same to every media within 3 days which i am not getting any solution for my hurt. Sir every thing is in your hand i need solution for me within a period of 3 days that is till 28th of this sep 2014, otherwise i am sorry i will send it all the medias and reserve bank of India the same without fail .