Shriram City — Unruly Behaviour

Address:

Hyderabad, Andhra Pradesh

I had taken a two wheeler loan from Shriram finance in Hyderabad, A.S Rao Nagar Branch in September 2012. I was paying my EMI promptly and it was getting deducted every month from my salary account. I had been paying my EMI for more than 2 years and just 2 EMI's were pending from my end. On 24th November 2014 they send their executive to my home and since I was at work that chap spoke very rudely to my wife. I had contact number of one of their collection executives named Kiran kumar so I called him on 24th Nov itself and updated him that I would be visiting their office next morning to pay 2 months due which amounted to 4910 rupees and kiran agreed. Next morning I was waiting for Kiran at 9AM sharp outside Shriram Finance office as agreed. When I called him he said he is on his way and would reach in 10 mins. After the call I realised that my bike was missing. I had parked my bike in the parking lot in front of their office. I called up kiran again and told him that my bike is missing and he pretended as if he does not have any clue. He arrived at 10AM and said that he would check if my bike has been seized. I was not able to understand 3 things here. Firstly how could they seize my bike without giving me any written notice ?.. Secondly how could they seize my bike without even bothering to inform me ? and thirdly how dare did they seize my bike when I myself was coming to their office to pay 2 months due. After checking his system kiran cooly informed me that my bike has been seized and I will have to shell out the total amount due which is 36, 518 including 1000 rupees seizing charges. I was shocked and asked him that what he is saying is totally unjust and unfair. But this guy was rude and adamant and said that until I pay the full amount they will not release my bike. I had to make arrangements for cash and I paid 36, 518 to kiran kumar and then he handed me the bike keys. When I told him to reutrn my post dated cheques he said that they cannot return my cheques. I asked him what will happen if they deduct money from my account next month to this he replied and told me not to keep any money in my bank... Wow.. so convenient!!!... Moreover he said that it would take nothing less than 1 month for them to handover NOC to me which I think is a JOKE... After this nightmare I would like to warn everyone that Please STAY AWAY FROM SHRIRAM FINANCE... THESE GUYS ARE A BUNCH OF THIEVES... THEY DO NOT HAVE BASIC COURTESY AND ARE VERY RUDE. IN SHORT, THEY ARE BIG CHEATERS. On top of this they charge exorbitant interest rate. I am writing this just to make everyone aware the consequences of dealing with this PATHETIC COMPANY... They dont even deserve 1 star for their pathetic service and attitude...