[Resolved]  Muthoot Group — COMPLAINT AGAINST MUTHOOT VEHICLE AND ASSET FINANCE LTD

Address:

Palakkad, Kerala

COMPLAINT AGAINST MUTHOOT VEHICLE AND ASSET FINANCE LTD The incident is as follows. 1. A car loan was taken by my wife Jessy Mathews 2. The company Muthoot Vehicle and Asset Finance Ltd collected signed blank cheques before disbursing the loan. 3. The installments were remitted in cash only in their office at Palakkad, near Municipal Bus Stand and never by cheque. 4. The company attached salary of the guarantor for defaulted payment and started the deduction through court. The order is to collect Rs 2 lakh totally. 5. Simultaneously they presented one of the blank cheques given for security making the cheque amount as Rs 2 lakhs against the balance amount, made the cheque to bounce and sent the lawyer notice for criminal procedure under section 138 of Negotiable Instrument Act and Section 420 of IPC 6. Immediately she remitted Rs 40, 000/- (Rupees Thirty Thousand only) by cash in the same office on 10/01/2013 and Ms Manju collected the same, given the receipt – copy published below. And we asked for some time for closing, she agreed. Also we replied through a lawyer. 7. After paying Rs 40, 000/- the due amount became Rs 1, 60, 000/- everybody will agree. 8. However the Manager Mr Sasikumar proceeded and filed the case under section 138 of NIA using the same cheque of Rs 2 lakh, after paying the amount of Rs 40, 000/- and when the balance amount to pay became Rs 1, 60, 000/- 9. When we asked for the loan account statement he refused the request. When we gave the request by writing he or his staff did not accept the request letter. 10. The manager filed the case under 138 of NIA only for harassing the customer as salary attachment of the guarantor is already made through court and salary already started deduction an amount of Rs 4140/- per month. This is a clear case of cheating the customer by the Manager Mr Sasikumar on behalf of Muthoot Vehicle and Asset Finance Ltd, Palakkad Branch. As per law and RBI guidelines their steps is illegal also. Also an injustice to a customer. I will produce documentary evidence for this incident. Mathews M Mathew Ph [protected]