[Resolved]  Shriram Housing Finance — FULL EMI DEDUCTED BUT LOAN NOT DISBURSED

Address:

Pune, Maharashtra

This was with reference to my Housing Loan transfer from AU Finance to Shriram Housing. This entire journey of transition has been a huge nightmare for me from the very beginning. I have been made to run from pillar to post right from the start and this has been a huge harassment for me. I got my sanction letter dated 23rd July and then after that even after paying the franking, PF and all other finance to get the Loan closed. Then I was promised that once the papers of the property was received I would get my Top up Cheque within two days. I have submitted the papers to Shriram Housing on the 20th September and then the full emi was deducted from my HDFC account on the 7th October. I was then issued a Cheque for 3, 56, 828 by Shriram housing finance on the 8th October. The date on the Cheque was for the 30th September but still it was handed to me on the 8th. I then deposited the same in my HDFC account and then realized that Shriram housing has made a stop payment for that Cheque saying that they issued a full amount Cheque in error as the contract mentioned that the top up would be for closing my other bank loans and hence a fresh Cheque would be issued. This was not my fault that a wrong Cheque was issued but entirely Shriram Housing Finance’s fault. This as per the rules of the RBI and the directives of the High court is in violation of the law. A Cheque once given and then stopped is considered as illegal and the full emi has already been taken from me for the same amount. I am still waiting to get my top up Cheque from them but now Shriram has started a new drama stating that they cannot issue a new Cheque to me till I do not return the old Cheque that was stopped by them. I approached HDFC bank this morning and they mentioned that it would reach me by regular post in three working days which would technically make it more than five days as it is a weekend now. My question is why I should not sue Shriram Finance for this harassment. Your executive Mr. Ajit Phalke has taken 8000rs from me towards Franking and in spite of repeated phone calls and reminders for giving me the franking receipts he has failed to even give that to me verbally regarding the amount that was actually paid towards the Franking. If I fail to get my Cheque by the end of the day tomorrow i.e. 11th October 2014 I shall proceed to file a legal case against Shriram Housing Finance and it’s executives for cheating me and harassing me after collecting the entire emi from me and also mis-using my money by intention to cheat towards franking without providing the receipts for the same. I want the interest of the loan to be waived off for an entire month because of this harassment as full payment has been collected from me without issuing the Cheque for the loan so far. Kindly make a note that Shriram Housing Finance would be fully and wholly responsible for the entire consequences thereof. This is the worst ever Finance company I have ever seen and I would never recommend anyone to your Bank again. My Loan account number is: SBTHPUNE0000062 AND 0000064. Awaiting your urgent reply to the above mentioned complaint.