Nov 17, 2019
Updated by nattoja From;
Shri .Subramanya.Nattoja
Correspondent/ Secretary
Nattoja Foundation Trust (Regd)
Ambika Group of Institutions
Puttur. D.K. 574201
Karnataka
To
Shri Shaktikanta Das
Governor
Reserve Bank Of India
Central office building
18th floor, Shahid Bhagat Singh Road
Mumbai-400001
CC :
1) The Chairman,
Head Office,
Corporation Bank,
Pandeshwar, Mangalore,
Karnataka-575001
2) The D G M
Corporation Bank Zonal Office,
8th Cross road, Gandhinagar,
Mangalore,
Karnataka-575003
Respected Sir,
I am a costumer of Corporation Bank, Bolwar Branch, Puttur for the past 6 years[protected] and holding 9 accounts under our Nattoja Foundation Trust and more than 50 accounts of our employees in the above Bank. I had borrowed a loan of 4 crores since 2013 and have been repaying the EMI at the stipulated time till Date without fail. I have always maintained the punctuality.
Our Educational Institution is the first and only Institute in India to have constructed Amar Jawan Jyothi in
Memory of the Martyrs soldiers and has renovated the Historical monument of The Great War of Independence 1857, Mangal Pandey Chowk.
Under Nattoja Foundation Trust I am running the following Institutions:
1) Ambika Padavi Poorva Vidyalaya, Nellikatte, Puttur.
2) Ambika Padavi Poorva Vidyalaya (Residential), Bappalige, Puttur.
3) Ambika Balavidyalaya, Bappalige, Puttur.
4) Ambika Maha Vidyalaya
5) Ambika Padavi Poorva Vidyalaya Hostel
6) Ambika Vidyalaya (Coaching Class)
Our trust then planned to commence Ambika Mahavidyalaya for which I had applied for the loan at Corporation Bank, Bolwar Branch, Puttur. The foundation stone of the same was laid by His Holiness Jithakamananda
Swamiji of Ramakrishna Mutt, Mangalore on January 2nd 2019. Our Mahavidyalaya took the initiative of being the first College in India to have Introduced “Philosophy” in its academics and provides free education to students who have opted for Philosophy. Now we have already completed the construction of Mahavidyalaya, the worth of which is 3.5 crores and was inaugurated on May 31st 2019 by His Holiness Bharathitheertha Swamiji of Shringeri Shree Sharada Peeta. But my loan is not sanctioned yet.
I am a respectable and a well known person in and around Puttur giving education for more than 1300 students, and am disappointed by such negligence. The proposal was submitted in the month of January to Mr Sharath Kumar, Manager, Corporation Bank, Bolwar Branch, Puttur, accepted the same, scrutinized and satisfied himself with all particulars and assured to sanction the loan. I visited the bank several times and every time I visited he assured to sanction but all in vain. The above mentioned loan is not sanctioned till date[protected]. If we are not having that eligibility they would have been informed me by giving proper reasons for not sanctioning the loan by giving a letter. As on till the date I didn’t get any information from their side. If they would have been informed me by giving proper reasons for not sanctioning I could have been applied to other bank in beginning itself.
In my Institutions nearly 80 employees are working and due to the delay in sanctioning of the loan I am unable to pay the salaries to them. The condition of my employees and their families is pitiable.
Now I applied to another Bank, receiving loan shortly and intending to shift the entire loan amount to other bank.
Another negligence is I gave by writing instruction to the Bank to take the amount of EMI from my various above mentioned accounts in every term. But even if I had sufficient balance in various accounts the bank had recovered Compound Interest from my account in each and every EMI. This is totally fraudulence attitude by the bank.
Deeply annoyed by this I am submitting this Complaint. When I, being a respectable person and a person who has a record of repaying the instalments /EMI regularly is treated in a negligible manner then how an ordinary person would be treated.
I request you to make proper enquiry and take rigid action against Corporation for these malpractice and negligence immediately. I hope to get positive response from you at the earliest.
Thank you;
Yours
Subramanya Nattoja