Non issuance of no dues certificate

Did you receive a written communication from the bank that your account has been transferred to SHAHA Finlease, under some debt transfer deed..

You must have paid by cheque and must have an acknowledgment of the cheque

After the clearance of the cheque you must have asked for the no dues certificate and updated CIBIL report.

As per RBI guidelines you can demand your credit report (CUBUL) from the bank.

RBI has allowed the banks to set their fee to a maximum amount of Rs.50/-.You can ask the bank to inform you the fee quoting RBI guidelines.

Or you may send DD/payable at par cheque of Rs.50/- and ask the bank to supply you their fee and refund the balance amount.

CIBIL records individuals as defaulters on set parameters. Copy of the file is enclosed.

You are within your rights to ask the bank to supply you the copy of communication to CIBIL citing reasons   to declare you the defaulter, and upon receipt you can challenge it.

You may write the facts of your case, under acknowledgment, along with all relevant details to the MD of the bank and SHAHA Finlease, and site their deficiencies and damages done to you, willfully and intentionally, and ask them to write to CIBIL under a copy to you and clean your Credit report and supply you a copy of CIBIL report free of cost.

You may mark a copy to the RBI .

This should help you.

attatched

Clear case of deficiency of service.

A legal Notice for immediate action.

Approach Banking Ombudsman for forcing the correction or

Approach Consumer forum for a quick remedy with little allowance for damages or

File a civil suit claiming full compensation for all damages suffered by you.  Lengthy but rewarding.

Hi Kumar,

Thanks for your reply. I have paid the amount through eTransfer and I have records of the same. I have letter issued by the instituion mentioning the total outstanding amount and the last date of payment. I have paid as per the required amount and within the stipulated time. I also have email confirmation of the payment of the amount by their customer service. Can you please provide me with the email id of RBI?

Thanks,

Anirban Guharoy

Hi Gundlapallis,

I have explored the option of banking ombudsman but I could not get the option of targetting a non banking financial isntitute. Since SHAHA Finlease Pvt Ltd is a non banking financial institute so I could not file a complaint with banking ombudsman.

Thanks,

Anirban Guharoy

helpdbs@rbi.org.in

You can log on to RBI website and you can seek help by online complaint.

NBFC( Non banking finance companies) are covered by RBI.

Learned Mr. Gundlapallis has alraedy given the valuable advice on the options of Consumer forum/civil suite

Hi Anirbhan

Standard Chartered Bank is the principal and the SAHA is its agent.  Your complaint should target the principal - Standard Chartered in case you opt your recourse through Banking Ombudsman. 

Best wishes.

Dear Anirban,

Please update the forum on the latest developments.

The nuisance of credit cards has been spreading.

The banks coerce and misguide customers to take credit cards. Executives due to nature of jobs take credit cards.

The govt, regulatory bodies may enact some law, policy, rule etc and credit card companies get busy to find ways and means to circumvent the process, and one or the other way impose penalties on the customers. They are habitual offenders. Obviously it is due to the huge profits. Where else and in which other business one can earn interest @45%+ late fees+penalties, plus the airtight process of forced tag of defaulter by credit rating agencies. The credit card companies shall never agree to post original bills by registered post or speed post (govt. courier). On the other hand telecom companies have appointed agencies to deliver their bills and as per the feedback they are paid to the tune of Rs.7/cover, which is as good as normal post.

The responsible forums like LCI should update members and general public how to protect themselves from harassment and if the need be how to get the erring officials booked so that they land up to serve a term. There has to be some deterrent.

Hi,

We have a partnership company which consisted of three 1 absconded with the funds and has blown it.

the other two are forced to pay up, the amount is 10 lakhs so we are agreeing to pay 50% each ...but i wanted a legal letter to be drafted or a format to give the bank when we are paying the money....can some one please suggest ....because the bank has said they will give the No Due certificate latter so to be on the safer side.

Thanks

subhash

Dear Customer,

Kindly provide your contact number to assist you on this.

Please feel free to call or write on 8976069758/customerservice@shahafinlease.com

Thanks and Regards

Customer serive

Shaha finlease Pvt Ltd