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james (director)     07 January 2013

Icici bank the worst bank


On the 22 November 2012 I paid off my home loan i had with ICICI bank. This was a full and final payment that I made with accordance to the foreclosure letter they had given me. It all started when I repaid my loan to the bank, I had asked for the foreclosure letter and List of documents. They gave me the list of the documents stating that they are in possession of my original property documents. They did not mention to me even a slight bit about the damages that they had caused to my original documents. The bank is saying it’s an act of God when the 26 July 2005 Mumbai floods happened many original property document in their custody got damaged. So what where they doing since then, Why didn't the bank notify me about the same and also took precautions to undo the damages by following legal procedures. So that means they assumed the customer will not pay off the loan or it shows their negligence. So what about the bank audit that happens every year how did they manage that. That means the bank had covered a lot of things and used unfair practices for their own gains. 

Every 7th of Month since 2005 to November 2012 they have debited my bank a/c on time to get their EMI for my loan. They never wasted time they did not give me any exemption are asked me if I am having a good time or bad time. They did not even bothered about how many difficulties I had to go through to make sure a/c had the funds by the 7th so that they don’t ding me for the not paying on time. If any customer misses the payment he is also slapped with a penalty, Bank charges a bounce charge, credit report is ruined and so on and so forth. Then why should the bank delay my Property Document for so long. I should be in possession of my property paper by now but the bank has not bothered to give me my right full documents still.

Now I saw the documents the documents were in depleted state there were water marks and important signatures of the concern authorities and stamps where blotted and spread across the papers in the file. The main documents were also damaged the building Floor plan was just torn and blank because it was been totally wasted out. I asked the bank manager to recreate the documents and issue a public notice of damage of my property documents. The branch manager promised me of 15 days in writing on ICICI and letter head the recreation process will be completed. Also informed me he will make sure it in fast-track the process and get the recreation of the documents before 15 days time. Also in the meantime informed me he will get back to me after consulting the legal team. On the 21st of Dec I get an email stating I cannot get a public notice since the documents are not lost and only in the case of lost documents the public notice is served. Hence then I requested them supporting document to prove the authenticity of my damaged property paper. I needed an unconditional Indemnity bond and affidavit cum declaration of the state of my document.

I visited the ICICI bank corporate head office to meet the concern officer to sort out the issue I met Mr Shiva Tadikonda Deputy General Manager (Customer Service Quality Group) He assured me of service and also informed me on the 28th Dec 2012 all the documents will be recreated and I can pick it up from the ICICI bank Borivali west Branch .I was also confirmed by email of the same.

On the 28th of Dec I visited the ICICI bank Borivali West Branch with my lawyer to inspect the documents. I was shocked to see my documents were still not recreated.This is the irresponsible behavior they portray to their customer’s, the Bank was pretending to have recreated my original property document and where just wasting my time, energy, productive hours. I  had been mentally harassed by their careless behavior and torture. The rude behavior of the bank staff they were just not ready to take the responsibility they just pass on the buck to a different department and try to save their skin. But in the interim my time, energy and Productivity is jeopardized  I have lost my mental peace; this is a mental Harassment it’s been very difficult to accept the fact that I don’t have proper documentation for my house wherein I stay. My insecurity in increasing day by day as ICICI bank is delaying the process of not providing me with the documents that is need to protect my property.

It’s not only me suffering in this Agony and pain but my entire Family. This bank wants us to come to their terms and does not want out interest but their interest to me served. I have been affected so badly by this behavior of the bank, I am not able to focus at my work. Both my family life and Professional life has gone for toss. My family is worried I have to make follow ups and mailers every time. My entire mental ability is wasted in this process. I have cancelled numerous meetings and appointments. As my productive and creativity  mind has been soiled. More Over the sleepless nights the bank has given me I am always waiting for their reply and getting No replies and after a Long delay a Big 'No' for an answer. My family sees me in this endeavor and they are also with me in my suffering process this is the least I wanted. Why should me and my family suffered because of the bank negligence and careless behavior.

I am not feeling secure in this environment the bank has created for us they have ruined our lives. The bank does not care for the customer and their family. Who has worked so hard to get the loan paid. It’s not only customer but the entire family contributes towards to paying off of the home loan. Just imagine every small and big sacrifice I and my family has made to pay the monthly installments to the bank. It’s really heart aching to see all this sacrifices are in vain. The bank does not care of the mental state of the customer and their family. They should not be such ruthless in their behavior  it’s so difficult in today economy to pay off the loans. In-spite all odds if I and my family has managed to pay off the loan and behaved as a good customer. Why can’t the bank appreciate us for being a good customer. If I as a good customer have done my duty. Why can’t the bank do its duty?

The bank wants to give the documentation according to their terms which is not acceptable. They are giving me a 3 years indemnity bond and letter on the Letter head of the bank. Which does not make any sense, the indemnity bond is only for 3 years then what after that? Also the ICICI bank letter head does not make sense because they them selves don't respect their own words on it, Cause they had given in writing that the recreation Process will be completed in 15 days and they have not stood by their promise in writing. Both the documents that they are providing does not stand good according to me.

They have done the blunder and they are supposed to take care of it. Why should I suffer?

So many days have passed by From 22 November 2012 it’s going it is 2013. I am getting nightmare’s in getting a resolution. ICICI bank is imposing their own terms which they want me to accept, they are giving me a supporting document which is not up to my satisfaction. This has increased my insecurity and I have lost faith in the bank. There might thousand’s customer who are unaware of what has happened with their original property documents. They might be working really hard to pay off the loan. But they will be a shock to them when they find out the fact that the bank will be giving they a document which would be in a state they will not be able to recognize and in the name of supporting document the bank will waste the time of the customers and make the customer to dance to their tune. This was unfortunate for me to bank with ICICI bank undoubtedly one of the worst customer service i had ever received and unfair practice’s I had ever witnessed in my life time. I received a mail on the 29th Dec 2012 from the senior management team stating they will contact me on the 3 January 2013. This is the mail i received after a long wait in the evening. 


Vijay Zagade <> Thu, Jan 3, 2013 at 7:20 PM
To: James Soosai <>
Dear Mr. Soosai,
We refer to your appended e-mail of December 28, 2012 addressed to Ms. Chanda Kochhar,  which has been forwarded to the undersigned for due analysis and redressal.
At the onset, we sincerely regret the inconvenience caused to you.
We would like to inform you that your property documents are flood affected. We apologise for the inconvenience and regret for this incident.
We understand that our official had initiated the process of recreation of documents and already recreated the following documents :
1. Index II
2. Index II 2005
3. Registration Receipt 1996
4. Agreement For Sale 1996
5. Agreement for Sale 2005
6. Stamp Duty Receipt 02 Jun 2005

Further, based on your complaint we have taken this matter with the concerned team and wish to clarify below points :

1. Registration receipt dated June 07, 2005 will be recreated
2. Stamp Duty Receipt dated July 02, 1996 is time barred and cannot be recreated. We will get a Letter from the Collector for this document
3. Share Certificate: Name to be mentioned on Memorandum of Transfers by Society. It will get recreated
4. Letter of Rectification: Stamp of Society missing. (As it is rectification of Flat No.302 to 303 and your agreement dated June 7, 2005 clearly   shows that rectification has already been done and duly registered with Registrar. Hence
, recreation of the letter is not possible as builder and first buyer will not be traceable. However, our team is trying to get the Stamp of society and get it certified from Society as True Copy.
5. Letter of handing over possession to first buyer: a) Signature & Stamp of Director missing b) Second page in torn condition. This letter is again not required. However, our team will still try to locate the Builder Shreeji Erectors Pvt Ltd and the First Buyer to check if it is possible to get this recreated.  
6. Letter of Rectification: Signature of first buyer and stamp and sign of Builder is washed out. (As it is rectification of Flat No.302 to 303 and your agreement dated June 7, 2005 clearly shows that rectification has already been done and duly registered with Registrar. Hence recreation of the letter is not required. However we will still try to locate the Builder Shreeji Erectors Pvt Ltd and the First Buyer to check the possibility of recreation.

For any further clarification, we request you to contact Mr. Feroze Balsara, Cluster Branch Manager on his mobile xxxxxxxxxxxxx

According to them Non of my documents are necessary are important they are certainly making a mockery of Me and my property documents. 

I had replied this mail stating their explanation they have still not replied me yet. This is what is mental harassment a Bank can cause.


Please Help Me 

James Soosai



 11 Replies

Kumar Doab (FIN)     07 January 2013

The bank is under obligation and has affirmed that it shall abide by its obligations in writing. If any of the documents which needs to be recreated but bank has not added it in the list of docs which needs to be recreated you may point it out in writing to the bank.


You may prepare a list date wise of all representations you made to the bank including by email, letter, by phone, in person, and expenses you had to incur e.g. traveling to the cyber café, bank, typist charges, parking charges, internet charges, telephone charges and cost of your time spent and demand refund and also add the cost as deemed fit for mental tension, harassment, etc demand compensation within compensation policy of the bank and set a date/deadline for payment by cheque/Bank DD only.

Looking into the response of the bank you may proceed further.

Bank customer can escalate the grievance to BCSBI, IBA, RBI, BO and can also pull the bank to Lok Adalat, DCDRF and in case the case has merits to civil/criminal court.

The various decisions by Dist/State/National Consumer Forum involving this bank can be accessed at:




Some of the consumer help organizations which have commendable jobs are:



icicibankcare (Bank)     10 January 2013

Hi James,

We understand that our official is in touch with you to address your concern.

ICICI Bank Customer Service Team

Kumar Doab (FIN)     10 January 2013

Can the post by icicibankcare

Be taken as authorized response by the ICICI bank and be quoted and produced to a lawful authority????


Banks are under “‘Code of ‘Bank’s Commitment to Customers”.


Bank was duty bound and under legal obligation to supply you the communication by effective mode of communication {Bank must have obtained your full address, email, and phone numbers in housing loan application and must have been writing to you} e.g redg/speed post that it has spoiled your documents ought to be kept by it in its safe custody. If the bank has not done so it has willfully and intentionally decided to not to inform you and maintain a studied silence and your struggle with the bank proves that bank had ill intention to dupe you and cause you loss.


You may go thru a very informative article at:


How safe is your bank locker?



In another case in July 2007, the National Commission awarded compensation to a customer whose currency notes and important papers kept in a locker were destroyed by termites. It ruled that "the bank was bound to ensure that the respondent's locker remained safe in all respects".


“Second, keep in mind the reputation of the bank and its risk perception. "The physical condition of the locker area should be good, without any chance of flooding or fire”

You can access the judgments of DCDRF, State Commission, NCDRF at;



You may peruse RTI route to obtain guidelines from RBI that bank locker should be  water proof and fire proof or not???

Apparently ICICI bank has not disclosed to you till date in which locker/vault/safe custody vault/ premises with address it had kept your document??


Has the bank kept you informed on which date it has applied for recreation of which documents and has it provided you the certified copy of its applications and receipt of fees paid by it??? 

ICICI bank has been awarded exemplary punishments/penalties by the authorities including but not limited to consumer Forums, IRDA, Courts of law…..

If you wish to avail some of these can be provided in this thread.


You may obtain the contract signed by you with ICICI Bank and go thru the clauses on safe keeping of your documents by this bank.

If bank has included some unfair conditions in the contract you may bring in the notice of the RBI, BCSBI, IBA, Ministry of Finance…...courts of Law.


11. Do I have access to loan documents? If so, what are they?

Yes. You can have access to loan documents. Following are some important documents provided by banks:

·         letter of offer

·         copy of filled in loan application

·         copy of loan agreement

·         terms and conditions governing the housing loan

·         other documents such as schedule of fees and charges

Banks are required to give authenticated copies of documents executed by you free of charge. (cf. para 8.11.1 of Code of bank’s Commitment to Customers)



Blaming God and Terming the damage as “Act of God” is the escape route being looked at by this habitual offender bank which does not tire till it is awarded exemplary punishment by the top most authority.

It is felt that all staff of in this bank is some kind of oath that everyone shall use all kind of tantrums, tactics, means to tire and dump the customer and the bank should never accept in its first place that it is on fault.


 In your case as well Bank makes a nuisance claim that damage was done to your documents on 26 July 2005 and as per email dated Jan 3, 2013 of one Vijay Zagade bank has initiated recreation of documents spoiled by it after your email to Chanda Kochar.

This raises serious questions that until Chanda Kochar was approached no one was willing to recreate????


Is there no policy, sense, rule that prevails to act on its own and beg apology and offer compensation to customer????

Banks are ought to have a Compensation Policy.

Banks are under


Attached File : 844266932 codeofbanks aug09.pdf, 844266932 housing loan bcsbi.doc, 844266932 how safe are bank lockers ncdrc decision.doc downloaded: 241 times

james (director)     11 January 2013


First and Foremost i wish to thank you for sharing your view points. You have rightly mentioned the banks are giving flimsy excess stating it was "Gods Act". This Term "God Act" was been used by all bank officials whom i had contacted with the regards to my case. It was a hiding place for them to dodge my questions. Instead they should take the responsibility of the damages that they had caused, on the contrary they just want to prove themselves not guilty and want to somehow want to get scot-free.

This particular bank promises big things and delivers little in fact delivers nothing in return. They’re not consistent they eat up their own words and do not walk the talk. This is the latest communication that is received from they.

Vijay Zagade <>

Mon, Jan 7, 2013 at 6:33 PM

To: James Soosai <>

Dear Mr. Soosai,


We refer to your appended e-mail of January 5, 2013 addressed to Ms. Chanda Kochhar, _ which has been forwarded to the undersigned for due analysis and redressal.


At the onset, we sincerely regret the inconvenience caused to you.


We understand that our official Mr. Feroze Balsara had spoken to you on January 7, 2013 regarding this matter. Based on your discussion with our official, you will be visiting to the branch to collect the documents which are ready.


With regard to the Share Certificate, since the Bank is a third party for society, they would not accept the request placed by us for the Share Certificate. We request you to place the request with the society for recreation. We shall extend full co-operation where ever required.


Further, we require some more time for updating you regarding the status of documents 2,3,4,5 and 6.


We will get back to you within 10 working days, i.e. on or before January 21, 2013.


We thank you for writing to us.




Vijay Zagade

Manager – Senior Management Desk



I am also thankful to you for sending in the article from The Economic Times that was pretty helpful to me to given an insight of what had happened with a large section.

Please not hesitate to contact me my number is 09870531428.Please send in your suggestions and opinion in this Matter of ill behaviour of the bank.

I am Going Through a lot of Mental Agony, Trauma and Harassment Please Spread the News and get me some help.

Attached File : 844342518 vijay z 07jan2013.pdf downloaded: 105 times

Kumar Doab (FIN)     11 January 2013


It shall be better to transact with bank in writing, and record the discussions on phone and maintain a record of minutes of discussion.

You may approach a local lawyer specializing in consumer/banking matters and show all record and communications and proceed under expert advice of your lawyer.

You may submit the list of expenses incurred by you till date for legal consultation, traveling, email etc, and demand payment and compensation.

You should obtain certified copy of:


letter of offer

·         copy of filled in loan application

·         copy of loan agreement

·         terms and conditions governing the housing loan

·         other documents such as schedule of fees and charges


NOC/FNF payment of loan, letter of closure of loan

Bank policy on safekeeping of original documents collected from borrower as a collateral etc..

And any other document which you might have signed. Bank is under obligation to supply these free of charges to you.


You can spread awareness on your own at various portals including face book, twitter, consumer help portals, media, NGO’s etc.

Keep this thread updated.

james (director)     18 January 2013


I need a Chapion lawyer to fight my case

Please Guide me with a lawyer .


Kumar Doab (FIN)     18 January 2013

If you wish to avail the services of LCI lawyer you can conduct search at:

Your near and dear ones can also guide to a competent and experienced lawyer.

ICICI bank has agreed to recreate your documents and as posted by you has sent many communications affirming it.

Has the bank in clear words accepted its lapse/fault/deficiency in any of its communications and has regretted/apologized/ felt sorry?  

If yes it is better.

Or you may search and look into your record, for words which are implied apology.

This is imp. in the sense that it shall help you to stake your claims.

As already posted you may demand refund of expenses {separately} incurred by you for running from pillar to post/ submitting and making representations/ traveling to the cyber café, bank, typist charges, parking charges, internet charges, telephone charges and cost of your time spent, legal advice from lawyer/law firm, legal portals, preparing documents, representing to society/MC etc, tea and coffee served to various individuals, your expenses on your food/tea etc while on forced job due to this bank ……{ think of anything and everything however remain practical and sensible} etc and demand refund, in say coming……..7days by bank DD thru redg. post with a letter of apology and a cleat statement in writing by letter as you would need written record to prove source of funds in your bank a/c and may need to satisfy IT authorities that the funds are not your income.

You may also demand compensation {separately} for mental agony, harassment, huge delay, dumping your legitimate demand for years all together, subjecting you to a long drill of shunting you from this door to that door  etc as per compensation policy of the bank, say in next….7 days. During this period of many years bank knew that it is at fault and duty bound to apologize and return your docs. On the contrary it remained adamant, recalcitrant, volt faced…

Demand {separately} that bank discloses to you the fate of each representation made by you, action taken on each of your representation and names, designation, dept, address of each employee of the bank to whom your representations were sent by bank with their current whereabouts and inquiry if any conducted by bank on each of your representation, action taken, penalties awarded by bank to its employees and demand copy of the penalty and punishment awarded by internal system of the bank.

Demand {separately} that bank publishes and provides you a copy of the list of other customers whose docs are damaged by the bank and action taken by bank from the date of damage till date. If the bank maintains a studied silence approach RBI and apply for a list thru RTI.

Force the bank to submit the reply to you by letter, thru redg. post.

Valuable advice of learned experts/members is sought.

james (director)     19 February 2013


Thank you sir for this valuable input of yours. I have been really working hard to meet my dead lines and work lapses that was been caused by the blunder caused by ICICI bank.

I had gone through a lot of hassle and this is indeed a painful experience for me. Haven’t said that the work is not yet over has the bank has not given me all the Documents yet they don't have the courtesy to give me a call.

In the past couple of days I have also come across a few friends of mine who have had the same issue with ICICI bank when they went to retrieve their document. Now they also want to seek legal guidance for their Documents. This bank is so atrocious in its behaviour that it does not give the complete details to its customer about the damages it had caused to its customer documents. At as well all know now I am not the only case hence I am going to he court of law, Media , RBI, to all possible institutions for Justice.


Kumar Doab (FIN)     19 February 2013

Your resolve is appreciable.

All affected customers may unite and forward to each other the emails/letters/minutes of discussion/representations sent to the bank, and filer a collective representation as well signed by each one.

If acceptable all of you may file a joint complaint in court of law.

It shall be really worth to approach a competent and experienced lawyer and issue notice to Chanda who has acknowledged your complaint and pledged to resolve and appointed her deputy to revert.

The Decision of National Commission has already been shared with you.

RBI maintains list of its officials for various matters own its web site. You can approach them.

You may go thru informative publications:

-How to get better services form banks

-BCSBI and IBA: Code Compliance Officers.( Meet them.)


-Withholding documents from court amounts to Fraud.

Supreme Court of India

S.P Chengalvaraya Naidu vs Jagannath on 27 October, 1993

Equivalent citations: 1994 AIR 853, 1994 SCC (1) 1

Attached File : 302193711 bcsbi and iba.doc downloaded: 96 times

james (director)     25 March 2013

IF any lawyer would like to pick up my case and fight for the justice, Pleasegive in your details i will give a call. My contact is James :9870531428

Kumar Doab (FIN)     25 March 2013

If you wish to avail the services of LCI lawyer you can conduct search at:



Your near and dear ones can also guide to a competent and experienced lawyer.


Related 'Legal Documents' Lawyers

list is given below on this web page.


Please keep this thread updated.

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