[beejay]

My sister had availed a loan from Kotak Mahindra Prime Ltd in 2009 till April 2013.

The cheques presented were NON CTS, so for the last few I was paying cash after they give me back the cheques.
The auditor told me not to do so and pay only by cheque after asking them to return the NON CTS and present new cheques.

The collection agent came with the cheque today and asked for cash. I told him, I will give CTS cheques in return and since my sister is a Govt school teacher, she will be back at 5PM to sign the cheque.
The person lost his cool and snatched the cheque from my hand inside my shop while customers were sitting and told me in a very angry tone that he does not have time, and he cannot wait. I patiently told him, I will send a courier in that case to Coimbatore.
He also called my sister and threatened her after stepping out of my shop.
My sister called me and told this, I lost my cool and beat him up. I do not regret that, as he was abusive. And he said he will come back with his colleagues.

Now, I have had good dealings with them since a long time now and my track record is 100% correct without even a single default for all my vehicles. His manager called soon after and said that I should not have beaten him up and the collection guy wants to take it legal.
My loan manager intervened when all this is happening and told me to just let it go and he will speak to the collection agent.

I do not intend to let it go at this and wish to escelate this matter. Their website is useless without any contact or suggestion or anything.

Where do I take these things to? I know my only mistake is having physically assaulted him, I am ready for the consequence of that as it was provoked.

Do anyone have any email that I can shoot this out to?

[PC77]

Here you go.Took it from the net, not sure if it works.

Kotak Mahindra Prime Limited Customer Care Number
Website:www.kotak.com
Email:service.carfinance@kotak.com
Toll free number: 1800-209-5732 Toll Free No. (for rest of India),(022) 6773-6000 (for Maharashtra and Goa),

[roy_libran]

Originally Posted by beejay

He also called my sister and threatened her after stepping out of my shop.
My sister called me and told this, I lost my cool and beat him up. I do not regret that, as he was abusive. And he said he will come back with his colleagues.

I do not intend to let it go at this and wish to escalate this matter. Their website is useless without any contact or suggestion or anything.

Sir - You have already beaten him up and now wish to escalate the matter as well? Needlessly, you may be attracting a police case. Why don't you just let it go, since you have already taught the Collection Agent a lesson? And let the Loan Account Manager sort out the problem.

[n.devdath]

Originally Posted by beejay

He also called my sister and threatened her after stepping out of my shop.
My sister called me and told this, I lost my cool and beat him up. I do not regret that, as he was abusive. And he said he will come back with his colleagues.

Since you beat him up, he will surely not misbehave with you anymore and there is no legal route he can take. Kotak Mahindra collection agents are a known bunch of rogues here in Bangalore as well.

However, if you want further fortification, go to the nearest police station and file an FIR against him saying he threatened you and sister. Do not mention your physical altercation at all. That should take care of it.

[Shiv_1984]

Why do you want to escalate ? A physical abuse is far more serious than a verbal spat. You have already got into a trouble by loosing your cool but i dont completely blame you for that. It's just that it had to happen and moreover you did it in view of the situation.

Now calm down and dont get indulged in legalities etc. Let the managers handle that if they are ready for a amicable solution. The collection agents aren't very educated and you need not take it very personal.

[beejay]

Originally Posted by PC77

Here you go.Took it from the net, not sure if it works.

Kotak Mahindra Prime Limited Customer Care Number

Thank you

Originally Posted by roy_libran

Sir - You have already beaten him up and now wish to escalate the matter as well? Needlessly, you may be attracting a police case.

Originally Posted by n.devdath

However, if you want further fortification, go to the nearest police station and file an FIR against him saying he threatened you and sister. Do not mention your physical altercation at all. That should take care of it.

Originally Posted by Shiv_1984

Why do you want to escalate ? A physical abuse is far more serious than a verbal spat. You have already got into a trouble by loosing your cool but i dont completely blame you for that. It's just that it had to happen and moreover you did it in view of the situation.

Now calm down and dont get indulged in legalities etc. Let the managers handle that if they are ready for a amicable solution. The collection agents aren't very educated and you need not take it very personal.

I again wish to clarify that I was provoked and that was the reason for me to loose it. I am ready for the consequences of that. There was no need for him to call my sister and scare here with all the talks of arrest and all non sense and that too for no mistake of hers. He could have told me and not run out like a coward when I was attending to a customer. I would have paid cash like all the previous times.

I wish to escalate beacuse I do not want anyone to go through this. My guess is many of us just let go becasue of the legal complications. I know it will be tiresome. Yet I wish to see its logical end.

[pganapathy]

It probably makes very little sense to escalate this because legally you assaulted him so there is definitely a case against you.

If it can be resolved peacefully you are better off as the person will probably just let it go. However, I have to ask if you are ready in the case that he decides to retaliate, especially if you escalate this

[roy_libran]

^ Of course you were provoked into it; no questions on that! Honestly, if you ask me, you did the right thing.
However, I'm just wishing that they don't try and pull an IPC 307 on you. That's why asking you to let it go.

[voodoochild]

Originally Posted by beejay

I wish to escalate beacuse I do not want anyone to go through this. My guess is many of us just let go becasue of the legal complications. I know it will be tiresome.

Beejay, you escalating this matter wouldn't really help anyone else much. It would just put you through endless hours with cops, court, etc etc., not to mention the peace-of-mind being affected. As already mentioned, let the loan manager handle this. In the meanwhile, what you can do is inform the police regarding the guy's threat to return with his cronies.

[vidyanand]

OT but if it helps any other person in any situation, the NON CTS Checks are supposed to be valid until March 2013. This is what was told to me by ICICI bank and I have made payments this month (Feb 2013) with NON CTS checks.

[vinair]

My suggestion is to log a FIR first (before he does) and also admit that you had resorted to beating him for unwarranted provocation. This to some extend would put the ball in their court.

This is just to be on a safer side. Don't drag it any further because it will be futile talking to anyone as they will point fingers at you for physically assualting their employee (or the collection agent employee..).

[beejay]

Originally Posted by pganapathy

If it can be resolved peacefully you are better off as the person will probably just let it go. However, I have to ask if you are ready in the case that he decides to retaliate, especially if you escalate this

I have not yet escalated this matter.

Originally Posted by roy_libran

^ Of course you were provoked into it; no questions on that! Honestly, if you ask me, you did the right thing.
However, I'm just wishing that they don't try and pull an IPC 307 on you. That's why asking you to let it go.

They had filed a case and I went for an enquiry at the local police station.

Originally Posted by voodoochild

Beejay, you escalating this matter wouldn't really help anyone else much. It would just put you through endless hours with cops, court, etc etc., not to mention the peace-of-mind being affected. As already mentioned, let the loan manager handle this. In the meanwhile, what you can do is inform the police regarding the guy's threat to return with his cronies.

I personally feel I should not let go of this. I understand it is a long process filled with lots of issues. Yet I have been treated real bad and this is not a dialouge alone. I do not wish for this to happen to anybody else. It is not an end, yet I will try.

Originally Posted by vidyanand

OT but if it helps any other person in any situation, the NON CTS Checks are supposed to be valid until March 2013. This is what was told to me by ICICI bank and I have made payments this month (Feb 2013) with NON CTS checks.

That's exactly what I have been asking and they are not able to answer. Even the statement shows present in the bank again. They have been deducting 550INR for every cheque that has bounced.

Originally Posted by vinair

My suggestion is to log a FIR first (before he does) and also admit that you had resorted to beating him for unwarranted provocation. This to some extend would put the ball in their court.

This is just to be on a safer side. Don't drag it any further because it will be futile talking to anyone as they will point fingers at you for physically assualting their employee (or the collection agent employee..).

I have filed a complaint.

UPDATE-

I had filed a complaint with the cops with the incident all written in detail. In the meanwhile even they had filed a complaint against me.

5 Managers came to the local police station on the 6th March 2013 with the sole intent to project me a goon. They had the following lines of defense.
1. I have assaulted their employee and have no regrets for the same.
2. I have taken 10000INR cash and a mobile worth 17000INR.
3. The person is in the hospital with injuries to his hand and stomach and needs to be taken to Chennai for scanning.


Thankfully the cops did not subscribe to 2&3 as they know me for a while and can understand that they just needed to make a strong case. Further he got admitted after two days.

I wrote an apology for the assault and said I will settle the remaining loan amount in cash. Case closed.

I went to their office as a representative of my sister on the 14th March 2013 to foreclose my account. I paid in full the remaining part. I was not able to collect the remaining cheque as they needed my sister to write a letter. They gave me an option to destroy the cheques though. Yet I will send a letter and collect the remaining cheques.

I met the Manager of Colelctions, a very nice person and explained in detail all the happenings. He was a bit remorseful. The AM who came to the police station was still in a very bad temper. He just ordered me to stop posting on the social media networks. I refused as that was for me to do. I left soon after collecting my Fore closure receipt.

Now, the very next day I received a call from Kotak customer care saying that I have another due to clear.

They said that the cheque had just come back this morning and all that. The reason for dishonour was the same. NON CTS.

I just cant believe that they did not have the patience and time to trace the cheque and even collect cash for the same when they knew it was bound to happen. Even though it should not as the CTS is mandatory from April.

I am confused. Do they have wrong systems or am I just having a bad day with them?

[beejay]

Update

Looks like they want this thread down.

I received a letter saying that they do not appreciate my language here. I am fed up.

What I fail to understand is that I have not been able to get an answer as to why NON CTS cheques are not honoured before April 2013?

Further the letter states that I was made aware of the cheque bein under process. Come on, if I was made aware I would have paid that too and settled in full as my motive was to fully foreclose. Does it make sense to keep that one cheque pending?

Now again I need to wait for the NOC. God save me from what is going to happen next. I have requested the collection manager to send someone and collect cash.

Lesson learnt NO MORE PDC BUSINESS, I rather borrow from the rogue money lender in town as I can be prepared of what he can do rather than a cow turn a shark.

Disclaimer My personal view. No offense to anyone.

[Blue Thunder]

Originally Posted by beejay

...
What I fail to understand is that I have not been able to get an answer as to why NON CTS cheques are not honoured before April 2013?
...

You can hold them on this...the RBI has clear guidelines that the non-CTS cheques are valid till 31 Mar 2013.

http://articles.economictimes.indiat...ues-multi-city

Originally Posted by RBI

...However, the residual non-CTS-2010 standard cheques that get presented in the clearing system beyond this extended period will continue to be accepted for the clearing but will be cleared at less frequent intervals.

So, the bank cannot bounce the non-CTS cheque in any case, I guess.

[beejay]

Originally Posted by Blue Thunder

You can hold them on this...the RBI has clear guidelines that the non-CTS cheques are valid till 31 Mar 2013.

http://articles.economictimes.indiat...ues-multi-city


So, the bank cannot bounce the non-CTS cheque in any case, I guess.

Thanks for this very useful post.

Upon receipt of the perfectly worded letter today I sent an email confirming my status of receipt, willingness to pay by cash and again asked the question and asked them to reply by email.

The manager called me while after and said they will send the collection agent tomorrow.

Coming to the part of pursuing it on legal grounds. I had a chat with a retired supreme court lawyer who has settled here in Coonoor and he said I should go all out with it, as its a clear case of negligence and some other stuff. He also asked me to take it up with some bank regulator called scbo or something.

Further he said there will be a dime a dozen legal experts willing to take this further in Madras as it is a sure win situation and will attract a lot of interest for their career. His age does not allow him to participate and he was very helpful. Yet, where does all this end. And my intention is not to put anyone to task. Their mindset needs to change. However they will still keep coming.

It will happen again and again. There will be no end to it unless you have the right people at the right places.

End of the day, I have learnt a lot of valuable lessons from this. Everyone should.