This is with reference to Loan A/c under name of Bhupesh Vashisht for Manjunath Developers for Lake Bihar property at K.R.Puram from IDBI Bank. We wish to bring our complaints and findings about Builder Manjunath Developer.
1. We visited site many times and found that not even ¼ of construction is completed by now which builder had promised to complete by Jan'09.
2. We also got to know that there is case going on, on builder as well as on property and he is been blacklisted by all other banks except IDBI Bank.
We wish to book a compalint against IDBI bank for sectioning a loan to Builder who is not promising.
We trusted bank and requested for loan as we knew that as per process each and every bank will enquire about builder and sanction loan to him if they are 100% satisfied about his credibility which did not happen in this case.
We had sent a mail to bank for not disbursing 2nd Installment until construction reaches to its promised stage but Bank had made payment to builder without notifying us.
We also requested bank not make any further payments to builders without my(Bhupesh Vashisht) and my wife Shivani Vashisht’s (who is Joint owner of property) written consent letter to branch manager.Therefore, Bank will be responsible for any further payment made to builder without our consent.
Also would wish to book compalint against Manjunath Builders who had promised to deliver a propert by Jan'09 and not yet started a construction.We are paying Pre EMI's till today and which is getting too much for us to afford.
Kindly let us know how to get rid of this situation.
Shall appreciate your help.
Thanks
Shivani V
