SIR
I WANT PROPER GUIDENCE ON THE ISSUE
SUBJECT: COMPLAINT AGAINST IDBI BANK CIVIL LINES BRANCH
Dear Sir
With reference to the above we would like to inform you that we are the customer of the above bank and we have availed housing loan from the above branch in the year 2006.The details of the case is as under for your ready reference and doing the needful and to provide us the justice.
That Mr. Pramod Mishra Partner of M/s PRABHU BUILDERS AND DEVELOPERS has approached us to sell his flat scheme, accordingly we inspected the site and we have shown our desire to own an apartment, 302 on the 3rd floor. And super structure comprising Apartment No. G-02 on the ground floor. in the said scheme called PRABHU VISHNU APARTMENT MANKAPUR NAGPUR.
Now builder also assured us that he shall arrange loan for us from IDBI BANK within ten to 15 days as his scheme is technically as well as legally( master file) approved by the said bank., subject to our positive field investigation/income document verification &legal and technical clearance of the said property.
Since we want to avail loan we accepted the proposal and he took us to the IDBI BANK civil lines branch with all our income, address, personal identification proofs. After due verification of our document bank in principal has agreed to grant us a loan of Rs. 850000/- vide their letter of sanction dated February 25, 2006. And accordingly they asked us to pay a sum of Rs. 3857/-
When we enquired what for these charges, they confirmed that it is processing fees which includes Legal Charges (Title verification/Non encumbrance certificate) and other charges. We paid the said charges demanded by the bank.
Accordingly as advised by the bank we entered into Registered Agreement to Sell with the builder for flat on 3rd floor and apartment on ground floor & by paying requisite stamp duty charges on 04.03.2006and 09/03/2006. And registered the documents as the flat scheme was under construction. All the originals were submitted in the bank .later Bank verified all the documents and confirmed us the said TITLE (Title verification/Non encumbrance certificate )of the property is clear hence they are disbursing the loan amount and on 13/03/2006 they directly paid the entire amount of Rs. 850000/- to the builder. Without our knowledge . Normally the payment is released stage wise after inspection and completion of the respective stages duly confirmed by the banks empanelled architect.
.After that we were paying our EMI of Rs. 7880/- regularly which you can confirm from the bank.
In March 2008 builder assured us to hand over the said flat and then we approached and informed the bank and asked how they have released the entire payment to the builder without completion of the building , Normally payment is released stage wise after due inspection & confirmation by the banks empanelled architect. We were surprised but again bank & the builder assured us that due to some unavoidable circumstances the completion of the scheme was delayed.
When we came to know from reliable sources that builder has sold some of his flats of his other schemes like PRABHU SUDAMA & PRABHU BRAHMA financed by IDBI BANK CIVIL LINES BRANCH NAGPUR. Here also the Master file was approved with the bank of these Schemes.
One fine day we read in the Local news paper that State bank of India Nagpur has published in the news paper that the flat which was FINANCED & mortgaged with IDBI has also been mortgaged with State bank of India. Of the same builder from PRABHU SUDAMA SCHEME .which was already mortgaged with IDBI bank.
This incident opened our eyes and we felt something fishy as we recollected the the transactions from the day one like 100% payment to builder when the building still under construction without taking customer into confidence and processing the loan application very fast. All most all the cases of this particular builder which were financed by IDBI BANK are FRAUD AND BUILDER & THE BANK STAFF HAVE THE NEXUS AND TOGETHER
( IDBI BANK & THE BUILDER) HAVE CHEATED THE INNOCENT CUSTOMERS PUTTING THEM IN GREAT HARD SHIP
We immediately approached the bank and Bank confirmed the fraud by the builder and we were also one of the victims. But bank assured us and requested us not to file Police complaint as it will complicate the matter and bank employees will be in trouble, and assured us to resolve the matter with Mr. Pramod Mishra partner of M/s PRABU BUILDERS & DEVELOPERS. And clear the title and settle the issue of the said property in question, against which they have given us the loan. Instead of resolving the issue, to our surprise we have received a legal notice from advocate Mr. Abhishek Mudliar on 23/09/2010 as if we have willfully defaulted in making regular EMI. Inspite of knowing all the facts the said property is SOLD which is already mortgaged and financed by IDBI BANK to some other customer taking (IDBI BANK) into confidence. Keeping us in dark and the fact was hidden deliberately as long as we were paying our regular EMI. When we came to know about the fact, which was confirmed. Then we stopped the payment and informed the bank the reason. Now it seems the bank not only cheated us but misguided us. . Now it is a proven fact that The bank is in nexus with builder and have conspired and cheated not only us but other clients. Of the same builder. Who have availed loan from IDBI BANK
Now therefore we want refund of our money (paid EMI’S) along with interest and compensation of minimum of Rs. TWENTY LACKS within Seven Days from the Date of This Letter. Or Else We Have No Option But To File A Criminal Complaint With The Police/CBI Against IDBI BANK And The Builder For Cheating , Forgery, Mental Torture, And Threatening And Misleading Us Also We Shall Involve Media And The Press To Expose The Bank And The Builders Misdeeds. Please Take Note Of It. AND resolve the issue without any further delay
MRS. VIBHA RAJESHWAR KARRI (9765872938)
MR. RAJESHWAR RAO V. KARRI (0371110235)
