Loan Car Refinance-Hinduja Leyland Finance Ltd

S

sachinnagle

New member
Bank Name
Hinduja Leyland Finance Ltd
Customer Care Number
18002022500
Loss Amount
240000
Ratings
5.00 star(s)
Opposite Party Address
Pune- VTP Aetherius, Mahalunge
I, Sachin Narayan Nagle, borrower under Loan Account No. MHPUPMSV00160, hereby place on record.
I have raised multiple complaints since June 2026 regarding:
  • Non-release of balance disbursement amount of Rs.75,000 despite submission of required documents and Original RC.
  • Interest being charged on the unreleased amount.
  • Discrepancy between the sanctioned interest rate of 9.03% and the 16% rate reflected in the Statement of Account.
  • Unexplained Dealer Margin Money of Rs.1,90,000.
  • Incorrect or unexplained EMI computation.
  • Foreclosure calculation and settlement methodology.
  • Closure of grievances without satisfactory resolution.
Despite repeated follow-ups through emails, phone calls, ticket submissions, branch visits, discussions with HLF representatives, escalation to the Grievance Team, Nodal Officer and Principal Nodal Officer, and submission of a detailed representation through Registered Speed Post, the matter remains unresolved.

Summary of Ticket History​

Ticket No.DateIssueStatusRemarks
27725108-Jul-2026Balance Disbursement / SchemeClosedClosed without resolution
29044114-Jul-2026Scheme Follow-upClosedFresh ticket raised for same issue
30976724-Jul-2026Scheme EscalationPending ClarificationRedirected to branch
33879608-Aug-2026Vehicle Loan QueryClosedClarification incomplete
33879808-Aug-2026Part Payment QueryClosedNo detailed explanation provided
36613925-Aug-2026Loan CalculationsPendingDetailed computation requested
37236025-Aug-2026Loan CalculationsClosedCalculation sheet not provided
37370226-Aug-2026Loan Calculations Follow-upClosedIssue remained unresolved
37521626-Aug-2026Loan CalculationsPending ClarificationNo detailed response received
37535226-Aug-2026Foreclosure LetterClosedDetailed breakup not provided
37516526-Aug-2026Scheme Follow-upClosedMatter remained unresolved
38715926-Aug-2026Scheme Follow-upPending ClarificationLatest escalation
7041Nov-2025EMI Update IssueReopened and ClosedIndicates earlier closure was inadequate

Key Outstanding Issues​

1. Interest Rate Discrepancy​

ParticularValue
Rate in Sanction Letter9.03%
Rate in SOA16%
I continue to seek:
  • Confirmation of the actual contractual interest rate.
  • Reconciliation of 9.03% and 16%.
  • Detailed EMI computation methodology.
  • APR / IRR / Reducing Balance calculation basis.
  • Month-wise amortization schedule.

2. EMI Calculation Discrepancy​

Based on HLF's own EMI calculator, the expected EMI appears significantly lower than the EMI currently charged at Rs.26,369, resulting in an unexplained difference of approximately Rs.3,500 to Rs.4,000 per month.

3. Dealer Margin Money – Rs.1,90,000​

I continue to await:
  • Purpose of the dealer margin.
  • Beneficiary details.
  • Fund flow trail.
  • Proof of disclosure and borrower consent.
  • Impact on loan pricing and foreclosure.
  • Refundability or adjustment mechanism.

4. Foreclosure Calculation​

I have requested:
  • Principal outstanding.
  • Interest outstanding.
  • Foreclosure charges and applicable clause.
  • Rebate of future interest.
  • GST and other charges.
  • Complete foreclosure computation sheet.
The requested details have not been furnished.

Registered Speed Post Representation​

A detailed written representation has already been submitted to HLF through Registered Speed Post seeking:
  • Interest-rate reconciliation.
  • Detailed loan computation.
  • Amortization schedule.
  • Dealer Margin documentation.
  • Executed loan agreement and related documents.
  • Foreclosure methodology and calculation sheet.
The issues raised therein remain substantially unanswered.

EMI Payments Under Protest​

To protect my credit history and demonstrate good faith, I am continuing to service the loan account.
However, such payments shall not be construed as:
  • Acceptance of the 16% interest rate.
  • Acceptance of the Dealer Margin Money of Rs.1,90,000.
  • Acceptance of disputed calculations, charges, or foreclosure amounts.
  • Waiver of any rights available to me under law.
All payments are accordingly being made under protest and without prejudice.

Compensation Requested​

I also request HLF to review appropriate compensation for:
  • Delay in grievance resolution.
  • Closure of complaints without adequate response.
  • Time, effort and costs incurred in repeated follow-ups.
  • Financial uncertainty caused by disputed calculations.
  • Mental stress and inconvenience suffered.

Final Request​

I request a comprehensive written response within 15 days providing:
  1. Interest rate reconciliation (9.03% vs 16%).
  2. Detailed loan computation and amortization schedule.
  3. Dealer Margin documentation.
  4. Foreclosure calculation sheet.
  5. Ticket-wise closure justification.
  6. Account reconciliation statement.
  7. Compensation review and corrective action.
Failing receipt of a satisfactory response, I reserve my right to pursue remedies before the Grievance Redressal Officer, Principal Nodal Officer, RBI grievance mechanism, National Consumer Helpline, Consumer Commission through E-Daakhil, and other competent authorities.
Yours faithfully,
Sachin Narayan Nagle
Loan Account No.: MHPUPMSV00160
Mobile: 9552596015
Email: sachinnagle@gmail.com
 
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