I had taken a loan from Bajaj fin serv in 2019. I was paying EMI of Rs 24k PM till 2nd Oct 2022.
1. In October, they have changed the loan ownership to my husbands name and PAN & customer ID and converted it to another term loan for 3 yrs without any information or consent from us. They termed this loan as flexi hybrid and said such conversion is automatic, but the loan was reported in both our cibil as restructured. It was a individual loan, but it was reported fraudulently in both our cibil. They said change of loan ownership was due to a technical glitch and said they will reverse it back to my name. So they created a new customer ID in my name, and linked the loan internally, to my name, but they are not still able to give me the repayment schedule, statement, etc in my name, & in cibil, it is still showing in both our names even after 2 months. They have said they have issued a letter to cibil, but to no avail. It looks like they are not able create a new loan in my name as they might have closed the old loan in my name while converting it to my husbands name. What is the procedure banks need to follow in this case to reverse the loan into my name?
2. The NACH mandate has been taken for 24k PM till 2030 for a period if 11 years. I believe that was the original agreed terms. But in between, they have decided to convert it to a 3 yrs interest only + 3 yrs int plus pricipal product. And shortened the tenure. While converting it, they have used restructuring and due to technical flaw, it was restructured as a term loan to my husbands name. They are hitting ECS for a higher amount and it is getting returned as Exceeds mandate upper limit.
Can we use the NACH mandate taken by them as evidence of agreed terms & conditions?
3. To prove their point, they sent the loan agreement & application.
Their submission that the NACH data may support customers contention, but loan agreement supports their contention of 3+3 was not correct.
1. Photo in the loan application is tampered. It is not my photo at all.
2. Nowhere it is mentioned as 3yrs + 3Yrs product in the loan agreement. Everywhere it is mentioned as "72m".
Not even 72 months or 6 years.
72m cannot be interpreted/extrapolated to 72 months as claimed by you. If it is not clearly written as 72 months, it is an invalid entry. Esp if it is not defined in the terminology.
3. My Signature is not there on all the pages. So pages can be inserted later also.
4. Many important pages incl "schedule" is blank without customer signatures. These too could have been inserted later.
5. Many pages where details have been entered manually do not have corroborating/accepting signatures. So they are all invalid.
6. Signature tampering has happened on the promissory note. Someone has dragged my signature to the revenue stamp. Forgery by bajaj finserv is a criminal offence.
The loan agreement & application form is also tampered extensively.
Banking frauds such as Name change, photo change, Customer ID change, PAN change, Invalid tenure entries, Signature tampering, with multiple invalid manual entries without corroborating customer signatures are serious offences that have criminal liability.
I asked them to please explain how the tampered loan agreement and tampered loan application is in their favour as claimed by them.
As far as I can see, the loan application form and loan agreement confirms multi organ failure and a near death situation for Bajaj Finserv as a finance entity.
Can I ask for compensation in this case for forgery, misrepresentation, cheating, loss of cibil score and denial of loans, & loss of reputation,
Regds
Dr Sukanya
