Shaha Finlease — Error in CIBIL for HSBC CC [protected]

Shaha Finlease can be termed as the new age NBFC rather call it a new age Munshi - money Lender who by means of extortion, threat and various other method try to extract money from the innocent ignorant people.They buy NPA from reputed banks, keep mum on the issue over a period of time, may be a few years, Baloon and inflate the O/s amount written off, Sanction new Inflated amounts by these banks and then try to extract the maximum money they can by was of threat and extortion from the innocent people.

Classic example if you go through the reviews is how can a Cc/loan amount of 30, 000/- be inflated to 6 Crs and the settlement be done for 10, 000/-.
Probably Shaha Finlease would have approached the customer after 6-7 years after the NPA was sold to the said company by the reputed banks.Now the question is why did Shaha Finance not approach the said customer the very next year????Why did the company take so much time in approaching the customer was it a deliberate delay?On what basis is the company charging exorbitant interest and penalty charges and inflating O/s Amount on a written off Cc/Loan ?Have they the right to sanction new Credit Card /Loans limits on the basis of which they charge interest and penalty without proper paperwork and customer signatures.
The answer to these questions is very simple .
In short the company had purchased these NPA from the banks at discounted prices which would be atleast 50%-60% of the written off amount or even lesser.
2)Only under such circumstances can they provide a settlement for 10, 000/-.
3)What they try to do is inflate the O/s amount to infinity, send legal notice and try to reach you, They would call you, threaten you and try to extract maximum amount which can be squeezed from you and settle the amount.In case they have provided a settlement letter it would be beneficial for knocking the doors of the judiciary system or else you may find them approaching a few years after with another inflated amount of O/s and the circle goes on...So beware.

They are similar to the old aged tradition of money Lenders who used to exploit, manipulate and crush the illiterate people during the pre British era as well you can still find them in remote villages. The government had banned such type of money lending activities to protect the poor, illiterate from being exploited.

The GOI/RBI should initiate corrective actions against such NBFC who are making a fool out of ignorant people.All should stand up against such NBFC.

Shaha Finlease can be termed as the new age money Lender who by means of extortion, threat and various other method try to extract money from the innocent ignorant people.They buy NPA from reputed banks, keep mum on the issue over a period of time, may be a few years, Baloon and inflate the O/s amount written off, Sanction new Inflated amounts by these banks and then try to extract the maximum money they can by was of threat and extortion from the innocent people.

Classic example is how can a Cc/loan amount of 30, 000/- be inflated to 6 Crs and the settlement be done for 10, 000/-.
Probably Shaha Finlease would have approached the customer after 6-7 years after the NPA was sold to the said company by the reputed banks.Now the question is why did Shaha Finance not approach the said customer the very next year????Why did the company take so much time in approaching the customer was it a deliberate delay?On what basis is the company charging exorbitant interest and penalty charges and inflating O/s Amount on a written off Cc/Loan ?Have they the right to sanction new Credit Card /Loans limits on the basis of which they charge interest and penalty without proper paperwork and customer signatures.
The answer to these questions is very simple .
In short the company had purchased these NPA from the banks at discounted prices which would be atleast 50%-60% of the written off amount or even lesser.
2)Only under such circumstances can they provide a settlement for 10, 000/-.
3)What they try to do is inflate the O/s amount to infinity, send legal notice and try to reach you, They would call you, threaten you and try to extract maximum amount which can be squeezed from you and settle the amount.In case they have provided a settlement letter it would be beneficial for knocking the doors of the judiciary system or else you may find them approaching a few years after with another inflated amount of O/s and the circle goes on...So beware.

They are similar to the old aged tradition of money Lenders who use to exploit, manipulate and crush the illiterate people during the pre British era as well you can still find them in remote villages. The government had banned such type of money lending activities to protect the poor, illiterate from being exploited.

The GOI/RBI should initiate corrective actions against such NBFC who are making a fool out of ignorant people.All should stand up against such NBFC.