India Bulls Housing Finance Limited
- House loan interest Open
vijay wadhwa filed this complaint against India Bulls Housing Finance Limited on Mar 19, 2023
Resolution Demanded:
Refund
Damages
Chief Financial Officer
India Bull
Sir
Chief Financial Officer
India Bull
Sir,
HHLNOD******** raised on **/**/**** in the name of Vijay wadhwa and NEERAJ Wadhwa for purchace of flat in UP country Project of Super tech Limited
This is continuation of earlier mail since **** latest on **/**/****,Regarding linking of interest rate to REPO as per RBI guidelines, even i visited your office at Ahmedabad and Mumbai office also ,till date no action has been taken by yours financial institution, Instead of charging REPO rate you are charging Rate of Interest As High as **% in housing loan against guidelines of RBI violating all the rules and regulation of NBFC/RBI which is very serious Matter so as I am compel to write regulatory authority and PM house for your injustice and indifferent attitude equivalent to fraud with the customers as till date I am regularly paying your installment without fail, your indifferent behavior compel me not to pay installment further from next month and yours institution will be responsible for all the events happened in future.
You are compelling me to file case in consumer court also.
Retails episode is mentioned as under,
Your company approved project of one Noida based Builder project after due Diligence after taking into consideration all the approval and necessary verifications of document and offered Loans to Public on subvention scheme. Keeping faith on your approval and due diligence of the project we raised loan from your institution and till date regularly paying installment. Your institution disbursed entire amount to the builder without making end use verification which shows clearly lack of compliance your end and seems some illegal celebration with the Builder can be certainly shows some sort of Mili Bhugat on parts of your company, wherever, floor the building was not constructed and entire payment was made to builder in the year **** which can be term as one sort of fraudulent and calavance milli bhugat.
Now come to the interest issue, even than ,I am paying regularly instalemt to your company without fail, but you are charging so high ROI of
** % on Housing Loan without any reason of default whereas all the NBFC or Banks are charging *% to **% after raising of REPO Rate by RBI number of times in Past one years, I am unable to under stand why you charging this rate of **% even i requested you number of time to make correction for the same. I already paid to you more than** lacs against the loan raised about Rs **.** Lacs. Now I have drawn conclusion that i will not be able to wipe out this Loan amount for this rate. You are charging ROI equivalent to Personal Loan which is clear cut fraud, and also your company and builder commit an offence Criminal conspiracy i.e Faulty Due Diligence, registry can not made due to issue with authority, Making Payment without end use verification and charging of higher ROI from Borrower
I again request you to please change ROI linked to REPO rate from back date and give credit to my account from back date and also compensate for mantle torture other wise there will not be alternative for me to file complaint against you in consumer court/RBI PM house and to other regulatory authority .Treat it as Legal Notice as well as notice for filling consumer court complaint for reversal of interest from back date,I will wait for one more month and if you not take action as per RBI guidelines I shall be compell to stop payment of instalement till solution and your company will be responsible for the same, Further, How you are raising my instalement in Nach,I have never given Mandate for higher amount of instalement which is also one sort of fraud raising mandate without consent.
Vijay wadhwa
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India Bulls Housing Finance Limited
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