ICICI - Blatant cheating of customers & the (In)justice that is passed of as the law

anonymous · 11th May 2007, 16:07

This is what happened to one of my office co worker:-

He applied for car loan through ICICI bank executives, visited our office on regular basis. His application got processed and the loan has been approved but he didn't disburse/avail the loan/vehicle due to some reason, however his EMI against that loan(which he never availed) got autodebited from his ICICI Bank saving account. When he tried to get that executive his number was switched off and his manager told him that he had left the job and asked him to go in Consumer Forum, Customer care was not logging the complain because their working hrs had been finished, somehow he logged the complain and dropped the mail in Icici bank customer care, such a horrible situation he faced.
Later he was told by that manager because of to achive the target his loan got disbursed by that executive and EMI got deducted.
Note from mod: Do not use size and FONT tags

mobike008 · 11th May 2007, 17:39

Quote:

Originally Posted by rlather

He applied for car loan through ICICI bank executives, visited our office on regular basis. His application got processed and the loan has been approved but he didn't disburse/avail the loan/vehicle due to some reason, however his EMI against that loan(which he never availed) got autodebited from his ICICI Bank saving account. When he tried to get that executive his number was switched off and his manager told him that he had left the job and asked him to go in Consumer Forum, Customer care was not logging the complain because their working hrs had been finished, somehow he logged the complain and dropped the mail in Icici bank customer care, such a horrible situation he faced.
Later he was told by that manager because of to achive the target his loan got disbursed by that executive and EMI got deducted

Typical woes of a sales guy at the cost of a customer

black12rr · 15th May 2007, 17:53

Quote:

Originally Posted by subbarao

Hi,

Today morning malleshwaram branch of icici attacked by a mob, & they broken the glasses, branch was closed immidiately, people gathered in front of bank told that, it was counter attack on the bank because yesterday icici car loan recovery people attacked the owner of the 4wheeler in rajagopalanagar area for non payment of installment, they beaten up the owner & his wife, owner complained to the police, & the concerned union, union members gathered today morning in front of branch & attacked.

By this incidence icici may learn the lesson???

Somewhere inside says i should have been there , would loved to crack some glasses there

, but cant do that .

ad75 · 16th May 2007, 16:15

icici -expansion in they way they do business is like - i cheat i cheat i.....

Centro-P · 25th June 2007, 07:01

Man killed over ICICI bank loan, says*wife- Hindustan Times

If this is true this is extremely shameful. The bank shouldn't be allowed to function. So earlier we had moneylenders, now we have organized goons like this? I hope higher authorities take notice and do something about this. I am really pissed about this. A life lost for just 15,000 rupees? Is that the value of like in our country? In Tamil they say "muttiku mutti thattanu", that's what they should do to these cheats.

anonymous · 25th June 2007, 19:00

Quote:

Originally Posted by Centro-P

Man killed over ICICI bank loan, says*wife- Hindustan Times

If this is true this is extremely shameful. The bank shouldn't be allowed to function. So earlier we had moneylenders, now we have organized goons like this? I hope higher authorities take notice and do something about this. I am really pissed about this. A life lost for just 15,000 rupees? Is that the value of like in our country? In Tamil they say "muttiku mutti thattanu", that's what they should do to these cheats.

Very shocking. Another thread on this
http://www.team-bhp.com/forum/shifti...onal-loan.html

ramzsys · 26th June 2007, 12:37

What kind of country is this when the supreme court has repeatedly retorted the banks not to use such ways of recovery yet 'they' continue their 'atrocity'?

pawan_pullarwar · 26th June 2007, 15:14

Once I have cheated for ICICI Lombard. When I took my home loan from them, they told me about home loan protection from lombard. They said I have to pay just 12K to insure my loan and this insurance amount will be finance by ICICI. Which includes EMI paid by ICICI in case I got hospitalized, if I loose my job 3 months EMI will pay by ICICI and waving off in case of death. When I got my disbursed amount I found they financed 35K for Insurance. Later it is being told to me that the insurance amount comes to 35K after calculation. Calculation ?????? I asked what is this calculation ? so they explained me something. But my temper was high at that time. I asked to cancel it, so they said it is being disbursed and my EMI will start on that amount. I said I will not go for insurance in any case. So they deposited the cheque which they have taken from me saying this cheque is require to transfer insurace amount to ICICI Lombard. But incidently I was not having 35K in my account so it was bounced. I imidiatly called at ICICI Lombard and shouted a lot on them. Then I called ICICI bank to reduce the finance amount to 35K but they said not it is not possible. Then I called my agent what to do with this 35K. He said "sir dont worry use it for home furniture or anything you want" and I did that.

balaji_n29 · 27th June 2007, 14:02

ICICI sucks big time...Its a shame that the bank respects only share value and doesn't respect human values.... ICICI can be recommended to "Hall of Shame". Good that I closed my housing loan with them and went to IDBI...

esteem_lover · 27th June 2007, 14:08

Quote:

Originally Posted by ramzsys

What kind of country is this when the supreme court has repeatedly retorted the banks not to use such ways of recovery yet 'they' continue their 'atrocity'?

supreme democracy, ramzsys

adman77 · 5th July 2007, 04:53

Ek aur bechara ICICI ka maara. Lekin maine ulta ICICI ka maara!!!

My story in short:

Took a car loan from ICICI in 2001. Sold the car in 2002. Paid off the bank the principal outstanding amount. Loan closed. Got a settlement letter from them.

Six months later they call and tell me I owe them 40,000 more. I was shocked. Told them I have the letter etc. They say they don't care. Pay 40,000 ASAP. I don't. They deposit five of my security cheques which bounce. They file a check dishonour case against me in the local court where they have under the table relations with the magistrates. I try to fight it myself but lose. Jail for 6 months and fine of Rs. 1 lac!!!

Got out on bail in an hour. Filed an appeal in sessions court. At the same time, filed a forgery case against ICICI in city civil court for depositing my cheques after cancellation of agreement. Now they came to know my dad's a lawyer. Fought both the cases with three senior lawyers on my side.

Result

Sessions court acquits me of cheque dishonour charges.
ICICI loses in City Civil court. Judge asks them to pay me 45,000 Rs in damages. They do that promptly. I'm richer by 45,000 bucks.

Centro-P · 5th July 2007, 07:16

Adman77, I am glad for you! And for breaking the ICICI office, well there's something called karma

. What goes comes around.

moralfibre · 5th July 2007, 10:37

Adman,

Whenever you get a settlement letter from the bank, you should insist on a return of the security cheques that you give them.

squarecut · 5th July 2007, 22:01

My car insurance is with ICICI Lombard, and I have been reminded by them to renew the insurance with them. I know that ICICI home loan is something one should not touch with a barge pole. But how is ICICI Lombard as a car insurer. Any recommendation whether I should continue my car insurance with them or I should switch over to a different insurer.

esteem_lover · 5th July 2007, 22:33

Quote:

Originally Posted by adman77

Ek aur bechara ICICI ka maara. Lekin maine ulta ICICI ka maara!!!

My story in short:

Took a car loan from ICICI in 2001. Sold the car in 2002. Paid off the bank the principal outstanding amount. Loan closed. Got a settlement letter from them.

Six months later they call and tell me I owe them 40,000 more. I was shocked. Told them I have the letter etc. They say they don't care. Pay 40,000 ASAP. I don't. They deposit five of my security cheques which bounce. They file a check dishonour case against me in the local court where they have under the table relations with the magistrates. I try to fight it myself but lose. Jail for 6 months and fine of Rs. 1 lac!!!

Got out on bail in an hour. Filed an appeal in sessions court. At the same time, filed a forgery case against ICICI in city civil court for depositing my cheques after cancellation of agreement. Now they came to know my dad's a lawyer. Fought both the cases with three senior lawyers on my side.

Result

Sessions court acquits me of cheque dishonour charges.
ICICI loses in City Civil court. Judge asks them to pay me 45,000 Rs in damages. They do that promptly. I'm richer by 45,000 bucks.

Quote:

Originally Posted by moralfibre

Adman,

Whenever you get a settlement letter from the bank, you should insist on a return of the security cheques that you give them.

Fantastic story adman, but how did you not get back your cheques & the agreement copy when you pre-closed your loan ?

11th May 2007, 16:07	#211
anonymous BHPian Join Date: Jan 2007 Location: NCR Posts: 565 Thanked: 25 Times	This is what happened to one of my office co worker:- He applied for car loan through ICICI bank executives, visited our office on regular basis. His application got processed and the loan has been approved but he didn't disburse/avail the loan/vehicle due to some reason, however his EMI against that loan(which he never availed) got autodebited from his ICICI Bank saving account. When he tried to get that executive his number was switched off and his manager told him that he had left the job and asked him to go in Consumer Forum, Customer care was not logging the complain because their working hrs had been finished, somehow he logged the complain and dropped the mail in Icici bank customer care, such a horrible situation he faced. Later he was told by that manager because of to achive the target his loan got disbursed by that executive and EMI got deducted. Note from mod: Do not use size and FONT tags Last edited by tsk1979 : 11th May 2007 at 17:12.
	() Thanks

16th May 2007, 16:15	#214
ad75 BHPian Join Date: Feb 2007 Location: Noida Posts: 271 Thanked: 25 Times View My Garage	icici expansion icici -expansion in they way they do business is like - i cheat i cheat i.....
	() Thanks

25th June 2007, 07:01	#215
Centro-P BHPian Join Date: Jun 2006 Location: Toronto Posts: 66 Thanked: 2 Times	Man killed over ICICI bank loan, says*wife- Hindustan Times If this is true this is extremely shameful. The bank shouldn't be allowed to function. So earlier we had moneylenders, now we have organized goons like this? I hope higher authorities take notice and do something about this. I am really pissed about this. A life lost for just 15,000 rupees? Is that the value of like in our country? In Tamil they say "muttiku mutti thattanu", that's what they should do to these cheats.
	() Thanks

26th June 2007, 12:37	#217
ramzsys Senior - BHPian Join Date: Dec 2006 Location: NH209 Posts: 1,775 Thanked: 1,462 Times	What kind of country is this when the supreme court has repeatedly retorted the banks not to use such ways of recovery yet 'they' continue their 'atrocity'?
	() Thanks

26th June 2007, 15:14	#218
pawan_pullarwar BHPian Join Date: Mar 2006 Location: Pune - Now in Munich, Germany Posts: 778 Thanked: 129 Times	Once I have cheated for ICICI Lombard. When I took my home loan from them, they told me about home loan protection from lombard. They said I have to pay just 12K to insure my loan and this insurance amount will be finance by ICICI. Which includes EMI paid by ICICI in case I got hospitalized, if I loose my job 3 months EMI will pay by ICICI and waving off in case of death. When I got my disbursed amount I found they financed 35K for Insurance. Later it is being told to me that the insurance amount comes to 35K after calculation. Calculation ?????? I asked what is this calculation ? so they explained me something. But my temper was high at that time. I asked to cancel it, so they said it is being disbursed and my EMI will start on that amount. I said I will not go for insurance in any case. So they deposited the cheque which they have taken from me saying this cheque is require to transfer insurace amount to ICICI Lombard. But incidently I was not having 35K in my account so it was bounced. I imidiatly called at ICICI Lombard and shouted a lot on them. Then I called ICICI bank to reduce the finance amount to 35K but they said not it is not possible. Then I called my agent what to do with this 35K. He said "sir dont worry use it for home furniture or anything you want" and I did that. Last edited by pawan_pullarwar : 26th June 2007 at 15:15.
	() Thanks

27th June 2007, 14:02	#219
balaji_n29 BHPian Join Date: Apr 2007 Location: Chennai Posts: 135 Thanked: 0 Times	ICICI sucks big time...Its a shame that the bank respects only share value and doesn't respect human values.... ICICI can be recommended to "Hall of Shame". Good that I closed my housing loan with them and went to IDBI...
	() Thanks

5th July 2007, 04:53	#221
adman77 BHPian Join Date: Mar 2007 Location: Mumbai Posts: 383 Thanked: 4 Times View My Garage	Ek aur bechara ICICI ka maara. Lekin maine ulta ICICI ka maara!!! My story in short: Took a car loan from ICICI in 2001. Sold the car in 2002. Paid off the bank the principal outstanding amount. Loan closed. Got a settlement letter from them. Six months later they call and tell me I owe them 40,000 more. I was shocked. Told them I have the letter etc. They say they don't care. Pay 40,000 ASAP. I don't. They deposit five of my security cheques which bounce. They file a check dishonour case against me in the local court where they have under the table relations with the magistrates. I try to fight it myself but lose. Jail for 6 months and fine of Rs. 1 lac!!! Got out on bail in an hour. Filed an appeal in sessions court. At the same time, filed a forgery case against ICICI in city civil court for depositing my cheques after cancellation of agreement. Now they came to know my dad's a lawyer. Fought both the cases with three senior lawyers on my side. Result Sessions court acquits me of cheque dishonour charges. ICICI loses in City Civil court. Judge asks them to pay me 45,000 Rs in damages. They do that promptly. I'm richer by 45,000 bucks.
	() Thanks

5th July 2007, 07:16	#222
Centro-P BHPian Join Date: Jun 2006 Location: Toronto Posts: 66 Thanked: 2 Times	Adman77, I am glad for you! And for breaking the ICICI office, well there's something called karma . What goes comes around.
	() Thanks

5th July 2007, 10:37	#223
moralfibre Team-BHP Support Join Date: Dec 2004 Location: MH-12 Posts: 8,451 Thanked: 13,973 Times	Adman, Whenever you get a settlement letter from the bank, you should insist on a return of the security cheques that you give them.
	() Thanks

5th July 2007, 22:01	#224
squarecut BHPian Join Date: Feb 2007 Location: Jabalpur Posts: 87 Thanked: Once	My car insurance is with ICICI Lombard, and I have been reminded by them to renew the insurance with them. I know that ICICI home loan is something one should not touch with a barge pole. But how is ICICI Lombard as a car insurer. Any recommendation whether I should continue my car insurance with them or I should switch over to a different insurer.
	() Thanks