Originally Posted by RA James

Dear Moderator,

I had lost my job in 2008 due to economic melt down, i had this loan from ICICI bank against a second hand car i bought. when i lost my job as a genuine customer I SURRENDERED the car on 19th December 2010 for which I had taken the loan from ICICI bank. I never knew that ICICI banks has already partnered with thieves in form of Bank Recovery Agencies who sold the expensive articles and parts of the car i surrendered, also replaced the original parts of the car resulting the new buyer had to tow the car from thier godown and then ICICI bank will came in the picture to do the rest by imposing the LOSS ON SALE on the customer.

The valuation was reduced by Banks own agency and definately must have done in collaboration with the banks own employees now bank wants to recover the rest of the money from me.

I have maild Ms Chanda Kochhar CEO & MD ICICI Banks, Head Service Quality but no one seems to be interested.

I have also not recieved the Pre-Sale Notice and the Post-Sale notice.

A) As per law I should have received a pre-sales and post-sale letter from the bank which I didn’t receive. Even the agency had accepted that and I have this written in the mails from day one when I had mailed from the first time to ICICI bank and the very first complaint acknowledgement has this mentioned on 22nd March 2010 so now you cannot say that i had recieved the said letters. even if bank says i had, i request to see the proof of receiving. Even the agency people had accepted that they didnt sent the letters to me coz had they sent the presale letter to me i would have caught them with articles and parts removed from the car.
B) Such things happening under the umbrella of ICICI bank resulting bank cancelling the agency for minting money over surrendered cars and harassing customer (Loan Account Holder) to pay the loss on sale of the surrendered car.
C) Bank from day one failed to provide a suitable solution to the problem caused by Banks own agency people, such scams are impossible without the involvement of banks employees. Still bank expects the Loan Account Hold who surrendered the car to pay the Loss on sale.
D) In the last I would like to mention that, the car was not RECOVERED it was SURRENDERED .
E) The cars value was reduced only because the agency had sold the articles from the interiors of the car, not only that they had even removed original engine parts due to which the new buyer had to tow the car.

request your help to sue the bank and resolve the concern once and for all.

regards
Rumao Alick James
rumaoj@gmail.com

The worst bank in the world to be precise