WITHOUT PREJUDICE
Date
: 22nd day of November’ 2024
To
BAJAJ FINANCE LIMITED
4th FLOOR
BAJAJ FINSERV CORPORATE OFFICE, OFF
PUNE-AHMEDNAGAR ROAD,
VIMAN NAGAR, PUNE - 411014
EMAIL :investor.service@bajajfinserv.in
Ref.: Loan Contract bearing No- P410FBO7780601, in
favour of Sabita Singh.
Subject : Clarification on enhanced EMI’s from Rs 9,729/- to Rs 16,719/- AND a sum of Rs.
1,575/-, which has never been Credited to my Account, AND The Original
Insurance Policy for which you had taken a sum of Rs. 30,672/-.
Dear Sir/s, Madam/s,
Please take note that
in the year 2023 your Sales person’s has approached me for providing loan of Rs
5,30,672/- within a short period of time, he communicated so many things
including the loan tenure, rate of interest and the sum of money towards EMI
and placed some of the printed forms, asking thereby for the signature. Those
forms are appearing partially typed in English and Hindi and partially blanked.
I put my signature and my husband Shri Lallan Singh also put his signature at
the writing appeared as Co-borrower’s signature. Even after putting our
signature on the forms given by the said Sales Person of yours. Since, We
concerned about the rate of interest and the EMI’s, therefore, I declined to
have the said Loan of Rs. 5,30,672/- suggested by your Sale’s person. However
after few days, in the month of May 2023, I find that a sum of Rs 4,98,425/- has
been credited into my current account No- 1676102000001243 lying with the IDBI
Bank Ltd. And a sum of Rs. 1,575/- has never been credited to my account nor
any clarification has ever been given by you as to for what shake such money is
still lying with you, the same may be a processing charges towards the said
loan given by you; But the same has never been affirmed by you. Thus I asked
your Sale’s person what about such money “Why” and “How” such money credited in
my account by the Bajaj Finance Ltd, then he told that he had already submitted
my documents and the money has been credited. Initially, I started to repay the
said Loan by way of paying EMI’s as of Rs 9,729/- every month. To my utter
surprise, in the month of June 2024 the company asked for EMI’s as of Rs 16,719/-
to which I tried to enquire about; but neither your said Sales Person nor your
executive has ever given any satisfactorily answered to my query. However, I
had paid such enhanced sum of money as of Rs 16,719/- towards EMI’s for the
month of June 2024. Since the normal practices in paying EMI’s stand for Equal
Monthly Instalment, though the Bajaj Finance Ltd asked for enhanced EMI’s as a
sum of Rs 9,729/-, therefore I could not understand under which circumstances
such EMI’s has been enhanced from Rs 9,729/- to Rs 16,719/-. I had tried my
level best as to know how about such increment in EMI’s but as no explanation has
ever been given or suggested by your executive I have decided not to make any
payment of any EMI’s till the clarification on such enhanced EMI’s come to me.
Since the month of August no clarification has yet
come to me. It is pertinent to say that the said Loan of Rs 5,30,672/-, I contacted
you on several occasions regarding inconsistent loan rates and additional
maintenance charges. However you have not responded. I asked you to take immediate corrective action to rectify the
issue by adjusting the interest rate to the initially agreed-upon rate of
10.85% and refunding any excess interest charged with additional maintenance
charges. Until you resolved, I will withhold any further payments towards the
loan repayment, as you refused to take repayment as in earlier terms being
EMI’s as of Rs 9,729/- every month.
Presently few days back
I had tried on your Website application to find the Loan agreement and
sanctioned letter where from I find the PDF of Business and Personal Loan agreement
having the Schedule Demand Promissory Note, Vernacular Confirmation Letter,
Vernacular Declaration form and forms for Business Loan where I found that many
Signatures appearing in those documents are not mine and my husband Shri Lallan
Singh and the handwriting in filling of those forms and the documents are not
in my handwriting or in the handwriting of my husband.
As the purported Loan
amount has been credited in my current account of the business, I obliged to
repay such Loan amount irrespective of irregularities but not in the manner
which has never established by the prescribed provision of Law.
In the stated facts I
am requesting you to Kindly provide me the clarity why and how such EMI’s being
sum of Rs 9,729/- has been enhanced being new coming EMI’s as Rs 16,719/-, in-spite
of regular payment EMI’s on being satisfaction of such clarification, if any,
will continue to make the payment of EMI’s as a sum of Rs 9,729/- every month
till the repayment of the entire loan amount.
Furthermore I want to
know about Rs 30,672/- has been cited towards the Insurance money but till date
I am not in receipt any Insurance Policy for which you have taken money while
given the Loan amount of Rs 5,30,672/- therefore I am seeking to have an
original Insurance policy for which you have debited the said sum of money of
Rs 30,672/- while approving the Loan for the sum of Rs 5,30,672/-. Kindly
provide Insurance Policy to me at the earliest.
The circumstances as
appearing in the face of the documents given by you shows gross irregularities
which tent-amount to unfair trade practices and deficiency in service in
serving the Loan to me. However, I do believe that good sense will prevail on
you therefore I am requesting you to give me the original Insurance Policy for
which you have taken money without my consent so for and continue to take EMI’s
as of Rs 9,729/- per month till the realisation of Loan amount. Kindly inform
your concern in this regard at the earliest preferably within a period of
fortnight from the date of receipt of this letter, otherwise I will take
shelter of Law before the competent court.
Thanking you,
Yours’ faithfully,
SABITA SINGH,
Wife of Sri Lallan
Singh,
Residing at Dakshin Para, Natun Pally, Purba Puttiary, Kolkata – 700093,
and also at Premises being No. 232, Dhalipara Purba Putiary, Near Padmapukur,
Kolkata – 700093.
Copy to;
BAJAJ FINANCE LIMITED, having its Branch Office at Premises being
No.1201, 12th Floor, Infinity Benchmark, Block EP & GP, Salt
Lake City Sector 5, Kolkata – 700091 (Near SDF More).
{For information & necessary action}
