Mahindra Finance — grievances on business loan application

Address:

Jaipur, Rajasthan, 302020

History: I had a car loan with Mahindra Finance which was opened till the application date of Business Loan and has been settled down recently.
The incident starts on around 10-Jun-2016, I want to take business loan so I approached my car loan agent, and he referred me to the Business Loan Department. Two guys Ritesh Khandelwal (Area Business Manager) and Saurabh were introduced for the same.
As per Mahindra Finance they don’t entertain the construction contractor for business loan but ABM tried to process my business loan application on the basis of my payment history of car loan. (Appreciable)
As per my first conversation with Ritesh (ABM), he was sure that he will get loan approved. He collected the number of documents.
Documents List: 1) Land Paper
2) Bank Account Statement
3) Work Orders
4) Enlistment of the Firm
5) A Cheque of Rs.5500/-
ABM assured me to give response in 2-3 days so that further process can be completed in 15 days as per him.
4-5 days there were no updates. On 16-Jun-2016 Cheque had been approached in my account for clearance and still there was no confirmation of the loan. When cheque got cleared I assumed that I will get the loan as Ritesh give me assurance, he will process the cheque only in case of surety of loan approval.
An evening I was trying to approach Ritesh as I was in dead need of the loan. He said to confirm the things in 10 mins as he was attending some marriage party but there were no updates for further 2-3 days. Meanwhile I spoke to Saurabh, he asked for the Channel Link documents for the land. I arranged the same from the builder.
Then these guys were again absent. I had to call them regularly for the updates. When they were in mood they attend the call otherwise they ignore. One more pattern they applied, to response the customer was “Sir, give me 5-10 mins and I’ll come back to you” This was the pet statement to neglect the call and again disappear.
In continuation of this confusing state I got to know that one additional document related to property is needed then loan gets approve. I ran again from Nasirabad (my work station) to Jaipur to arrange the document. Documents got arranged from the builder.
After the document submission one new point appeared that one guy will come for the Interview (your regular process). He came after 2-3 days from the day it was confirmed, I was in Jaipur only because Mahindra Finance team was not capable to fix a date for any procedure.
The interviewer marked my loan application as negative and I was not aware again.
When I approached your guy after waiting 2-3 days, I got the update; my file could not be processed as marked negative by interviewer…
In parrellel of all this, ABM Ritesh was absent from approx last 20 days…. After all this Ritesh Khandelwal again came into picture; meanwhile I got frustrated with the procedure and the irresponsible responses, already 28-30 days had been over.
I asked Ritesh to give me time for f2f for clear status. Mahindra Finance’s ABM Ritesh Khandelwal was so rude in response. He said “I can’t meet you. There is no use of repeated calls. If I’ll give you time then time will be as per my convenience. I’ll not meet you as per your time”.
On next day of this conversation, I reached the office without letting Ritesh knowledge. He was there only, asked me for more time to get final response.
After 3 days, he gave the final response that He is unable to do the task in customer’s favor.
I asked to return my file at my home as I had to go to my work station. I had already wasted my 10-15 days in Jaipur by irresponsible behavior and pathetic services of dealing with the customer.
He said ok but this was also fake promise as his all promises.
I collected the loan file by myself from Mahindra’s office. When I checked my file, noticed that my land papers & channel link papers are missing.
I called him to Ritesh Khandelwal just to inform the same. But this man even doesn’t show the courtesy to listen and answer satisfactorily. On top of it, he replied so rude “mein aap ke papers ka kya karunga, kha thode he jaanuga.” Since the date I don’t receive the papers yet.
• Fake promise
• Paid Rs.5500/- for the mental harassment.
• No Courtesy
• Unsatisfactory replies from all your levels (either initial level or Area Business Manager level).
Mahindra must take an action on this & I need an acknowledgment with actions taken on this.