Hello Sir/madam,

(Subject: Repossession of Car, Loan account #: LAMUM00011178433)

I m writing in regards to the above loan account and my experience with ICICI bank for the past few weeks.

Due to unavoidable circumstances (Spouse’s loss of job & medical emergencies in family),I had defaulted on my car loan payments since July 2010. I had maintained a good track record prior to this and there were no cheque bounces or mis-payments. I did approach ICICI bank in June 2010 to describe my situation. Unfortunately no help was provided to me, which lead to default on my payments. I duly understand that as a bank you have the rights to recover your credit. And as a borrower I m supposed to pay back. As I mentioned earlier I have all the intentions to pay back however circumstances weren’t favoring me.

Concern: In October my parental residence was approached by “secure consultants” for recovery purposes. On which my parents informed them that I m out of town and would be back by the end of the month (since I was at my in-laws). In the interim I arranged for some funds to make a payment in case of next recovery visit. On 24th October three recovery officers (Vijay Shinde, Aniket, Vikas from Secure consultants) Approached my parental residence again and demanded to surrender the car. On which my parents informed them the availability of funds to pay off the pending EMI’s. They denied to take any payments stating they weren’t authorized to collect payments and threatened to involve police for towing of vehicle. Terrified by the statement, my parents had to hand over the keys to them. While signing the documents(furnished by recovery officers), My parents did ask for the procedure to claim the car back, to which they were informed to make minimum two payments at above bank branch and claim the car. They weren’t informed about any additional charges (REPO, parking Charges, fine etc). There was no communication about Auction or closure of loan. Not to forget we haven’t received any notification about the above loan recall or loan recovery. Based on above guidance by the bank branch(J.B nagar andheri) we were told, the procedure to get our car back is by paying the entire balance off (closure of loan), which we aren’t capable (currently) We were also informed that in case the loan isn’t closed the bank has the rights to auction the car. On informing them about the above situation we were informed by Krishna Pandey(Manager) that the procedures followed by the recovery agents isn't correct and they should be sacked for the same, he also mentioned that we are supposed to send a prior notification before any action. he advised us to write in to headservicequality@icicibank.com and were assured to get a reply in next 24 hrs, we have already written thrice(1st,2nd & 3rd Nov) however there has been no reply. We are willing to pay off the pending EMI's and future EMI's as per schedule.however dont see any help from the bank.

Thus, based on the above situation we found out that:

1) We were misguided by the recovery agents from secure consultants about next step options(claim of car) and procedures (REPO charges,parking charges etc).
2) We did not receive any written communication in lieu of above procedures.
3) Car was taken away in my absence, while we were willing to clear the pending EMI’s.
4) No Loan recall notice received.
5) Threatening statement used to involve police or legal help for towing of vehicle.



I sincerely request you to look into this situation as we are willing to pay the pending EMI’s and future Emi’s as per schedule.

Below are the details for recovery officers and firm responsible for this situation:

Recovery vendor: secure consultants
Place or Repo: vasai(W)
Recovery officers: Vijay Shinde,Vikas,Aniket

Awaiting a positive reply.

Thanks,
Nazia Choudhary