Originally Posted by riyazahmedb

Dear Sir,

Complaint on ICICI Bank – Siphoning off money from NRE Account
Through fraudulent issue of credit card
------------------------------------------------------------------------------------------
I work in the IT Department of Qatar Central Bank (QCB), DOHA, State of Qatar.

I had opened a NRE Account (Account Number 000401801522) at Nariman Point Branch of ICICI Bank. I had applied for an ICICI Bank Credit Card in August 2006, after which I took up employment at the QCB. The application submitted by me was re-used with a forged signature and incorrect address, through which a card was issued. I was not aware of such an issue.

My NRE Account was suddenly debited with Rs. 1,50,544.58 on July 16, 2009. On noticing this I immediately took up the matter with the branch. The branch directed me to the Cards Division from where I could get hold of the application used to issue the said card and also the merchandise through which the card was used fraudulently. On seeking the evidence of delivery from the Cards Division I was told that it was delivered to my brother-in-Law and as his identity his driving licence was indicated against delivery. A look at the licencing number would indicate at the first instance that no such licence number exists in Indian RTO’s. From the application apparently used to issue the card, it is evident that the bank has not applied the minimum due diligence for approving such a financial services.

Further, the application form filed by me does not indicate that I have opted for an automatic debit of my account. I was told that as a matter of internal policy, ICICI Bank is authorised to have the option of automatic debit into any account of the card holder. Even if that was the fact, I am appalled by the way that the debit in the instant case has taken place. The transaction were undertaken using the fraudulent card between November 25, 2006 to December 24, 2006 for Rs. 1,14,963.25 and on December 21, 2006 for Rs. 414.00. This information is as per the transaction list given to me by ICICI Bank.

The above amounts were outstanding from expiry of 45 days credit allowed until July 16, 2009. As stated by the ICICI Bank, if the option of automatic debit was available as a matter of policy, the first transaction after expiry of 45 days credit should have been debited. Under such circumstances, I would have been alerted to the fraud being perpetrated on my account for this extent.

The bank was not in a position to clarify any of my doubts arising from the transactions. There was callousness and casual attitude to the whole incident from the Managers of the branches / Division I visited in the matter. They were of the opinion that “you will get back your money, don’t worry”.

ICICI Bank letter dated August 4, 2009, bearing reference number CSQG/035-036-673/2009-10 had assured me that appropriate investigations in the matter had been initiated on July 23, 2009 and a temporary credit of Rs. 1,15,377.25 has been processed on July 27, 2009 to my account. I have not received any credit to my account as on date.

As an NRE, these amounts have been retained in the account for family obligations. Due to the unfortunate event, due callousness in the bank I have suffered my standing and reputation with regard to the intended obligation. I was put to a lot of difficulty also during my short vacation in July – August 2009 to pursue the matter with ICICI Bank.

Sir, I would request you to kindly look into the matter, especially the manner in which the bank has issued the card, and enable me to recover my dues from the bank. Since I have missed out on the obligation to family, I had to take recourse to friends and loans for the same. I would request you to consider my difficulties and compensate me in this regard also.

Thanking you,

Yours sincerely,


[Riyaz Ahmed Budnar]


Current Address:
Post Box No. 1234,
Qatar Central Bank,
Doha-Qatar.
Mobile No. – 00974-5872284
Email Address: riyazahmedb@yahoo.com



Permanent Address:
401, “ SAI-RADHA STAR”,
Opp. Hi-Tech Hospital,
Ambalpady Junction,
Udupi, Karnataka.
Mobile No. –9845164353, 9342122107.

Dear Riyaz,

We are sorry to hear about your experience with us. We will contact you and work to address your issues at the earliest.

Warm regards,
ICICI Bank Customer Care.

Originally Posted by ICICI Bank Care

Dear Riyaz,

We are sorry to hear about your experience with us. We will contact you and work to address your issues at the earliest.

Warm regards,
ICICI Bank Customer Care.

Dear Sir/Madam,

With reference to the above case, I had filed the following complaint with ICICI Bank and also forwarded my complaint to the CEO, ICICI Bank also. Further to my e-mails I received a response from Ms. Anuradha M, Office of Head Service Quality vide mail dated September 11, 2009.

From the time I had registered my complaint, in July 2009, relating to the fraud committed on my account through a card issued frequently, purportedly with the knowledge of ICICI Bank, I was issued only a reference number to my complaint only by September 2009.

I was advised that ICICI Bank will revert back to me on or before September 24, 2009. I have not heard anything relating to the issue. I was earlier advised that ICICI Bank would revert back to me by September 17, 2009. However, I had not received any response in the matter till date. And even earlier to that the ICICI Bank advised that they would revert to me by August 29, 2009. I expected that ICICI would atleast respond and settle the matter by September 24, 2009.

I have an NRE Account bearing number 000401801522 at Nariman Point Branch of ICICI Bank. This above mentioned account has been used to siphon out Rs. 1, 50,544.58 by use of a fraudulent credit card applied to your bank through forged application form.

However, after my extensive chase of this case on September 23, 2009 vide reference no. SR 119635740 ICICI Bank credited my account by Rs. 1,36,720.58 without bothering to send me any intimation. Now my question is as to why only part of the total amount(i.e., Rs. 1,50,544.58) has been credited and why not the whole amount plus the necessary compensation.

The account and the relative amounts in the account were meant for a specific purpose which was planned and promised about 4 years ago. I wish to bring to your notice that, this fraudulent activity has affected my reputation with regard to the intended obligation and I have lost out on obligation. Further, I was put a lot of hardship during the short vacation from my office. For the loss incurred and the reputation lost on the obligation to be fulfilled by the amount I would seek appropriate compensation as this lowered my prestige in family and could fulfill my obligation from loans from friends and relatives. The relative amounts incurred in this regard will have to be compensated by ICICI Bank.

I am therefore, reiterating the issues again for the balance amount (i.e., Rs. 13823.90) and the compensation to be awarded to me. I hope you take necessary action in the matter.


An early response will be highly appreciated.

Originally Posted by ICICI Bank Care

Dear Riyaz,

We are sorry to hear about your experience with us. We will contact you and work to address your issues at the earliest.

Warm regards,
ICICI Bank Customer Care.

Famous last words from icici bank

RIYAZ u must file a case in high court

u will get a good compensation

Originally Posted by Unregistered

Famous last words from icici bank

RIYAZ u must file a case in high court

u will get a good compensation

You are right my friend. If these people dont compensate me I will surely pull them to High court. And there the compensation what I will qoute will be much higher.

Dear Sir,

If you are not getting any help from the Bank's side kindly forward your complaint to the Banking Ombudsman with copies of correspondence done with the bank. For Karnataka the address is:
The Banking Ombudsman,
C/o Reserve Bank of India,
10/3/8, Nrupathunga Road,
Bangalore, KARNATAKA - 560001

if u go to RBI u will not get any compensation .

I dont know what to do ? I am thinking of going to the court for the compensation and the balance amount.

Dear Mr. Riyaz,

If you want to sort out your complaint you can approach Banking Ombudsman (RBI). The can also compensate you for all direct losses but if you want to recover even indirect losses from Bank (i.e. compensation for mental harassment or suffering etc.) then its better to file your complaint in consumer forum.

NAZEERA .P, W/O M.ABDUL LATHEEF ...........Appellant(s)

Vs.

MANAGER, ICICI BANK LTD

THE MANAGER. ICICI BANK LTD ...........Respondent(s)




ORDER
1. Complainant purchased a Swaraj Mazda Goods Carriage by availing loan of Rs.5,00,000/- from second opposite party. The amount was to be repaid in 47 EMI and the first instalment was payable on 05-12-2006. The last instalment date is 05-10-2010. Eight cheque leaves were given to opposite party at the time of availing loan. Complainant remitted seven monthly instalments. Due to default in making payments opposite parties seized the vehicle in the last week of August, 2007 without giving any notice. On 31-8-2007 the repossession of the vehicle was informed to the complainant by telegram.


Complainant then approached opposite party and expressed willingness to pay the defaulted amount in order to get back the vehicle. But opposite party did not heed to this request. In November, 2007 2nd opposite party informed the sale of the vehicle and demanded a sum of Rs.2,00,000/- towards the balance. That the vehicle was sold without giving a notice of sale to complainant. That complainant is not liable to pay any further amount after seizing the vehicle. Complainant fears that opposite party will misuse the cheques. Hence this complaint claiming for compensation of two lakhs and seeking a direction against opposite party to return the cheques.

2. Opposite party filed version admitting the finance transaction. It is contended that the vehicle was purchased for commercial purpose. The complainant availed finance of Rs.5,00,000/- and as per terms and conditions he has to repay Rs.6,15,503/-. Complainant has to remit monthly instalments on 5th of every month. The complainant committed default and therefore he has to remit over due charges @ 24% per annum upon the monthly defaulted instalments. That complainant violated the terms and conditions of the agreement. That no cheque leaves were taken. The vehicle was not seized. Opposite parties several times requested the complainant to pay the instalments. But complainant did not turn up. At last on 18-7-2007 opposite parties issued through courier service demanding to pay Rs.4,78,702/- with interest till realization and also to return the vehicle. Though complainant received the notice he did not remit any amount. But on 31-8-2007 complainant surrendered the vehicle with registration Certificate and other documents.


The same day complainant executed document of surrender. Opposite party has not sent any telegram informing seizure of the vehicle. On the same day the vehicle was inspected by Mr. Ranjish and the market value was assessed as Rs.2,45,000/-. Thereafter the vehicle was sold after giving wide publicity through internet. On 18-9-2007 the vehicle was sold at the best market price which was Rs.3,00,000/-. The amount was credited to the account of the complainant. Still there is balance of Rs.1,90,702/- which is due from complainant. On 28-9-2007 opposite parties issued a notice to complainant that the vehicle was sold for Rs.3,00,000/- and complainant is liable to pay balance. Though he received the notice complainant did not pay any amount. The other allegations are denied. The complaint is filed only to escape from the liability to pay the above balance amount. That complainant is not entitled to any reliefs.

3. Evidence consists of the sworn affidavit of the complainant and Exts.A1 to A3 marked for him. Opposite party filed counter affidavit and Exts.B1 to B7 marked for opposite party. Either side has not adduced any oral evidence.

4. The main grievance of the complainant is that the vehicle was seized and sold by opposite party illegally. He is also aggrieved by the demand to pay Rs.2,00,000/- even after the sale of the vehicle by opposite party.

5. The allegations are refuted by opposite party contending that the vehicle was not seized/repossessed but was willfully surrendered by complainant. It is also submitted that even after repeated notices complainant did not remit the amount and hence the vehicle was sold for Rs.3,50,000/- which was the highest price available. That complainant is therefore liable to pay the balance due after credit of the sale consideration to his account.

6. Opposite party relied upon Ext.B3 dated, 31-8-2007 which is a letter of surrender of the vehicle together with the relevant documents of the vehicle. Besides denying and disputing Ext.B3 complainant contended this document to be a fabricated one. It is the case of complainant that opposite party repossessed the vehicle without knowledge of complainant and later send a telegram on 31-8-2007 informing the complainant about the repossession of the vehicle. Ext.A3 is this telegram send through BSNL. It is clearly stated in Ext.A3 that the vehicle is repossessed by opposite party Bank. This telegram produced in original is genuine and reliable. On perusal of Ext.B3 it is a letter of surrender in printed form in which the blanks have to be later filled. Ext.B3 does not bear the signature of the complainant in full.


Several such signatures purported to be that of complainant's is seen in several places of Ext.B1 hire purchase agreement. It can be easily presumed that Ext.B3 might have been signed by the complainant in blank at the time of putting the numerous signatures in Ext.B1 while availing the loan. After repossessession opposite party has used this surrender form filling up the blanks to contend that the vehicle was wilfully surrendered. If the vehicle was not repossessed opposite party could not have send Ext.A3 telegram. The complainant can never fabricate a document like a telegram. Opposite party has merely denied Ext.A3 but has not challenged its' genuineness.


Further opposite party contends to have send Ext.B5 presale notice calling upon the complainant to pay the loan amount and take back the vehicle. If the vehicle was wilfully surrendered by complainant as contended by opposite party then it is sheer irony that opposite party issued a notice to complainant calling upon him to pay the balance loan amount and take back the vehicle. For these reasons the contention of opposite party that the vehicle was surrendered is unbelievable and unacceptable to us. We have no doubt to hold that the vehicle was repossessed by opposite party as submitted by complainant. The vehicle has been admittedly sold by opposite party after repossession.

7. Then the question arises for consideration whether the repossession of the vehicle and it's sale is legal and proper. Complainant has no case that the vehicle was repossessed by using force. Even then the owner/complainant is entitled to notice prior to repossession reminding him about the default and also notice prior to sale of the vehicle.


According to opposite party on 18-7-2007 a notice prior to repossession as issued to complainant through courier service, intimating him about the default of instalments. Ext.B2 series are the copy of this notice along with the consignment note. In Ext.B2 notice opposite party has reminded the complainant about arrears and the default. Further on 05-9-2007 opposite party has issued a presale notice by registered post in which it is stated that the vehicle will be sold if the complainant does not pay the loan and take back the vehicle. Ext.B5 series is the copy of the notice with the postal receipt. The acknowledgement card is not produced. Ext.B6 series is the post sale notice dated, 28-9-2007 produced along with copy of notice and it's acknowledgement card. The postal receipt for issuing Ext.B6 is not produced by opposite party. In Ext.B6 it is stated that the vehicle was sold on 27-9-2007.

8. Exts.B2 and B5 notices were denied and disputed by complainant. He admitted receiving Ext.B6 notice informing the sale of vehicle. The proof of delivery of Ext.B2 and the acknowledgement card of Ext.B5 is not produced. Even if we assume that Ext.B2 and B5 were not served to the complainant it has to be considered, that complainant admittedly defaulted after seven instalments. He was aware of repossession of the vehicle on 31-8-2007. Still there has been no effort on the side of the complainant to make any further payment. In Ext.B6 complainant was informed about sale of the vehicle and was intimated that he has to pay Rs.1,90,202/- being the balance in the loan after credit of the sale consideration.


This complaint is filed only on 21-2-2008. The absence of immediate action on the side of complainant impells us to infer that complainant has approached the Forum only when opposite party has initiated some steps to recover the balance of Rs.2,00,000/-. Complainant has sworn that the purchase price of the vehicle is Rs.6,00,000/-. He availed loan of Rs.5,00,000/- and has repaid totally Rs.86,394/-. A brand new vehicle has been sold by opposite party for a very low price of Rs.3,00,500/-. Opposite party is duty bound to conduct the procedure of sale in a fair and transparent manner. No document is produced to support the contention of the consideration received.


When the vehicle has been repossessed and sold for such a low price to the detriment of the complainant, opposite party cannot then turn around and demand from the complainant any sum chalked out according to their whims and fancies. In such circumstances complainant is not liable to pay any further amount towards the said transaction. Due to the default committed, which is violation of the terms of agreement, the relief sought for compensation is to be disallowed. In the interest of justice we consider that a direction against opposite party not to proceed against complainant for recovery of any amount towards the transaction which is the subject matter of this complaint will be adequate relief to the complainant. Opposite party is restrained from using cheques if any submitted by complainant, at the time of availing loan.

9. In the result, we dismiss the complaint with the above directions. We make no order as to costs.

Dear Moderator,

I see some posts from adv.sumit in my posting which are relevant here. I think its a mistake from him. Please remove it from here.

Thank you.

Now nobody is responding from ICICI Bank for my query. How long should I wait for their answer. Now its already almost a week after I contacted them for the balance amount. Should I wait more or pull it to the high court.
Please advice.

Subject Reference: ICICI Bank Credit Card Fraud on
Card No. 3770 xxxx xxx 2007
Service Reference No. SR 118641805

From: ICICIBankCare <care@icicibank.com>
Subject: RE:'ICICICARE=035-589-180' ICICI BANK CREDIT CARD
To: "riyaz ahmed" <riyazahmedb@YAHOO.COM>
Date: Tuesday, September 29, 2009, 8:06 PM
Dear Mr. Budnar,

We refer to your e-mail of September 25, 2009 regarding your ICICI Bank Credit Card Number 3770 xxxx xxx 2007.

We request you to give us some more time to address your query regarding the refund of difference amount of Rs. 13,834.00 into your savings account.

We will keep you updated in this regard by October 6, 2009.

Sincerely,

Anuradha M
Office of Head Service Quality


Madam,

With reference to the above subject and a copy of the mail received from you in this regard, I have the following request to be addressed by ICICI Bank and its responsible staff.

1. The above mail dispatched to me on September 29, 2009 at 8.06 p.m local time, to be received by me on September 30, 2009 morning.

2. On the morning of September 30, 2009 before I could see the mail, I receive a telephone call from Ms. Nessie Athaide, Manager, Service Quality indicating that that balance amount pending credit to me will be done by October 1, 2009. Further, vide the telecom, I was also intimated that ICICI Bank will consider the interest payable to me in this regard along with compensation to be made to me to overcome the difficulties I have encountered in this regard.

3. However, during the course of this complaint I have found that your mails have been only for seeking further time with no ultimate consequence.

4. Since both the above functionaries speaking on behalf of ICICI Bank are from Service Quality, I intend that they co-ordinate amongst themselves to give out a single and correct information. This may be done without seeking any further time.

5. I would reiterate and expect as a customer of the esteemed 2nd bank in Indian Banking Scene, like ICICI Bank, to take a co-ordinated and a seriously considered view while addressing a concern like a fraud of this nature. I feel that ICICI Bank does not consider the loss of reputation that is entailing due to such a fraud. However, I highly respect and consider my loss of reputation as a matter of grave concern.

6. I would take this opportunity to let you know that I am running out of my patience in the matter and would request you to complete the procedure at the earliest. Now that you have accepted your mistakes in being a party to the fraud, I would like the matter to be closed at the earliest to enable me have a better banking relationship with your bank.


Riyaz Ahmed.

Originally Posted by riyazahmedb

Dear Sir/Madam,

With reference to the above case, I had filed the following complaint with ICICI Bank and also forwarded my complaint to the CEO, ICICI Bank also. Further to my e-mails I received a response from Ms. Anuradha M, Office of Head Service Quality vide mail dated September 11, 2009.

From the time I had registered my complaint, in July 2009, relating to the fraud committed on my account through a card issued frequently, purportedly with the knowledge of ICICI Bank, I was issued only a reference number to my complaint only by September 2009.

I was advised that ICICI Bank will revert back to me on or before September 24, 2009. I have not heard anything relating to the issue. I was earlier advised that ICICI Bank would revert back to me by September 17, 2009. However, I had not received any response in the matter till date. And even earlier to that the ICICI Bank advised that they would revert to me by August 29, 2009. I expected that ICICI would atleast respond and settle the matter by September 24, 2009.

I have an NRE Account bearing number 000401801522 at Nariman Point Branch of ICICI Bank. This above mentioned account has been used to siphon out Rs. 1, 50,544.58 by use of a fraudulent credit card applied to your bank through forged application form.

However, after my extensive chase of this case on September 23, 2009 vide reference no. SR 119635740 ICICI Bank credited my account by Rs. 1,36,720.58 without bothering to send me any intimation. Now my question is as to why only part of the total amount(i.e., Rs. 1,50,544.58) has been credited and why not the whole amount plus the necessary compensation.

The account and the relative amounts in the account were meant for a specific purpose which was planned and promised about 4 years ago. I wish to bring to your notice that, this fraudulent activity has affected my reputation with regard to the intended obligation and I have lost out on obligation. Further, I was put a lot of hardship during the short vacation from my office. For the loss incurred and the reputation lost on the obligation to be fulfilled by the amount I would seek appropriate compensation as this lowered my prestige in family and could fulfill my obligation from loans from friends and relatives. The relative amounts incurred in this regard will have to be compensated by ICICI Bank.

I am therefore, reiterating the issues again for the balance amount (i.e., Rs. 13823.90) and the compensation to be awarded to me. I hope you take necessary action in the matter.


An early response will be highly appreciated.

Dear Riyaz,

We understand that our Customer Care official has already spoken to you on September 30, 2009 and has provided redressal to few of your concerns. The team is working towards providing the resolution to the other concern raised on priority. We request you to bear with us for some time.

Regards,
ICICI Customer Service Team.

Originally Posted by ICICI Bank Care

Dear Riyaz,

We understand that our Customer Care official has already spoken to you on September 30, 2009 and has provided redressal to few of your concerns. The team is working towards providing the resolution to the other concern raised on priority. We request you to bear with us for some time.

Regards,
ICICI Customer Service Team.

Accordingly on the morning of October 1, 2009, as per Ms. Nessie Athaide, Manager, Service Quality confirmation on September 30, 2009, my savings account was credited by the balance difference amount.
Now my prayer is to credit my account with the interest component for the period you had debited my account and also the compensation for the hardship during the short vacation from my overseas office. For the loss incurred and the reputation lost on the obligation to be fulfilled by the amount, I would seek appropriate compensation as this lowered my prestige in family and could fulfill my obligation from loans from friends and relatives. And it also includes my travelling costs as well from Qatar to Mumbai. I really hope that you people settle this matter soon as similar to responding to a mail.

Thank you,

Riyaz Ahmed.