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SHIVANI VASHISHT (HR)     16 November 2009

Not getting property.

 

This is with reference to Loan A/c under name of Bhupesh Vashisht for Manjunath Developers for Lake Bihar property at K.R.Puram from IDBI Bank. We wish to bring our complaints and findings about Builder Manjunath Developer.
 
1. We visited site many times and found that not even ¼ of construction is completed by now which builder had promised to complete by Jan'09.
2. We also got to know that there is case going on, on builder as well as on property and he is been blacklisted by all other banks except IDBI Bank.
 
We wish to book a compalint against IDBI bank for sectioning a loan to Builder who is not promising.
 
We trusted bank and requested for loan as we knew that as per process each and every bank will enquire about builder and sanction loan to him if they are 100% satisfied about his credibility which did not happen in this case.
 
We had sent a mail to bank for not disbursing 2nd Installment until construction reaches to its promised stage but Bank had made payment to builder without notifying us.
 
We also requested bank not make any further payments to builders without my(Bhupesh Vashisht) and my wife Shivani Vashisht’s (who is Joint owner of property) written consent letter to branch manager.Therefore, Bank will be responsible for any further payment made to builder without our consent.
 
Also would wish to book compalint against Manjunath Builders who had promised to deliver a propert by Jan'09 and not yet started a construction.We are paying Pre EMI's till today and which is getting too much for us to afford.
 
Kindly let us know how to get rid of this situation.
 
Shall appreciate your help.
 
Thanks
Shivani V


Learning

 3 Replies

Anil Agrawal (Retired)     16 November 2009

 It is common knowledge that banks scam take place with the connivance of banks with borrowers (in this case builder) Don’t waste time. Write a complaint giving full facts, attach Xerox copies and send them to:

 

Shri Yogesh Agarwa, Chairman & Managing Director, IDBI Bank Ltd., IDBI Tower, WTC Comlex, Cuffe Parade, Colaba, Mumbai-400 005.

 

Mr. O.V. Bundellu, Deputy Managing Director, IDBI Bank Ltd., IDBI Tower, WTC Comlex, Cuffe Parade, Colaba, Mumbai-400 005.

 

Shri Ashok Chawla, Secretary, Ministry of Finance, Department of Economic Affairs, North Block, New Delhi-110 001.

 

G.C. Chautrvedi, Additional Secretary, Ministry of Finance, Department of Banking and Insurance, Jeevan Deep Building, Sansad Marg, New Delhi-110 001.

 

Shri Tarun Bajaj, Joint Secretary, Ministry of Finance, Department of Banking and Insurance, Jeevan Deep Building, Sansad Marg, New Delhi-110 001.

 

Your local branch of IDBI wouldn’t listen.

Adv. K.S.A.Narasimha Rao (legalquestadvisor@gmail.com )     17 November 2009

 Dear Shivani

Please you also forward your grievance to Banking Ombudsman, Reserve Bank of India located in your State or you can also email through Website.

Which will be much helpful in safeguarding the public money.

S.A.NARASIMHA RAO KARRI

ADVOCATE

Adv. K.S.A.Narasimha Rao (legalquestadvisor@gmail.com )     17 November 2009

Dear Shivani

It seems that you have purchased and got registered your flat without any proper legal advice, except the banking legal advisor through your Builder.

Most of the Purchasers of Flat, will feel financial burden to consult on legal advise, when they are prepared to purchase flat with life-long earnings and savings.

I hope at-least now onwards try to make aware of your fellow-beings to  take advise of reputed advocate of your locality and who is well-versed with Civil-realty matter. 

I advise you to immediately  take steps to recover the amounts paid by you.

S.A.NARASIMHA RAO KARRI

ADVOCATE-HYDERABAD

 


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