I Ramesh Chander Wadhwa partener of M/S J.S.R. Enterprises applied for a loan of rs1.5crore as Dropline Over draft limit in Hdfc bank(rajouri garden J-block branch) against my resident property through the sales manager mr Saurabh Arora(employee of hdfc)..
the same application was been sanctioned by Hdfc for only 1crore in which saurabh communicated to me that we'll have to pay only Rs 80000 + 7246 = 87246 Rs per month till 120 months towards the repayment of dropline O/D limit of rs 1 crore..He also commited to me that they will further ebhance my limit for Rs 50lacs more as soon as the financials of finanacial year 2008-09 will get audited. He did not communicated to me that the amount of rs 87426 will comprise only principal amount and i have to pay the interest separately..he has taken the signature on the sanction letter,agreement and pdc with the benefit that he is shorting the current Emi(of citi financial + hsbc) from app. Rs132000 to rs 87246 and also collected the cheque of rs 55151 towards processing fee n rs4649 against insurance of the property, for which he told me they will bank the cheque of processing fees and insurance at the time while handing over the cheque in favour of citi financial with the prior information. but when i came to know that i have to pay rs 1 lac app. extra towards interest too,i communicated to mr saurabh arora n mr govind l sharma(head of j block branch) as well n asked to withraw this application at once as i don't want to bank transfer my existing loans of citi financial and hsbc to you..but till then hdfc has already debited the checque of rs 55151 and 4649 from my accountwithout any prior information to me..they always kney the customer will say no the their offer as the customer is paying rs13200 app. against their present loan of which a lot of emi's the customer has already returned and why would someone take a loan n start paying extra money for that..so hdfc deliberately hid so many important points which they were supposed to tell right in the beginging..kindly help me in getting my processing fees and insurance fees back..
So i request you to take action against Mr Saurabh Arora(employee of hdfc bank rajouri garden j block branch for misleading me..thanking you
4/09/09
mob-9968013063

Dear Sir,

It appears that you must have signed certain papers/documents of HDFC at the time of availing of loan. The verbal assurances do not hold good. To be able to advice you further, please let us know do you have with you copies of the papers/documents/ agreement that you might have signed. If so, please mail us the important contents of these documents.

Please note that any court will consider your case on the basis of merits/documentary evidence available with you. The Insurance amount in no way can be returned back to you since it would have been further paid to an Insurance Company. In this regard, you can ask for the Policy Document.

Do inform us whether the Loan was taken in your personal name or firm's name?