Hi,

I had a car loan from ICICI bank. My car was stolen within 6 months
of it's purchase. I got full settlement from the insurer.

When I submitted this payment cheque to the bank they gave me a
simple settlement document which carried foreclosure charges as Rs.
0. But at the time of making the balance payment they deducted Rs.
18999.50 as foreclosure charges. When I enquired at the branch they
told me that bank policies have changed and now full foreclosure
charges are applied in theft cases also. On complaining to their
grievance addresal and highlighting each instances clearly they
agreed to pay only 50% charges.

I asked them many times to pay the full due amount but they didn't.
My points of conflicts are that -

a) If 50% foreclosure charges were to be applied, it should
have come up in that original agreement and settlement document. It
needs to be clarified "how it is possible to generate a wrong
document by bank".
b) It also needs to be clarified that at the time of first
refund of balance payment, why the bank has not taken care of this
issue. Despite my repetitive discussion in person with bank branch
authorities, I was told every time that full foreclosure charges
would be applied.
c) I'm surprised that now from where this 50% waiver scheme has
come from. Had I not escalated this issue, I would have never got a
penny returned from the inappropriate and un-judicially deducted
foreclosure charges. I've raised all these points to the bank
through mails, but none of these were answered.

I think this is not justified as this is a case of a vehicle theft
due to which I have suffered a huge loss despite the vehicle being
insured. I suffered in a great way mentally and monetary. The bank's
irresponsible behavior has only exaggerated it. I believe that this
is a case of forced foreclosure out of the reasons beyond control
and should be perceived and handled differently than normal cases of
foreclosure.

Please provide me with your views. Though i have already sent my
complaint to bank ombudsman about 15 days back. I'm yet to receive
reply from them.