Rajesh Kanna
New member
- Bank Name
- Equitas bank and Cholamandalam investment & finance both 50lakhs+30lakhs loan
- Loss Amount
- 8000000
- Ratings
Daylight robbery & fraud, manipulation by Equitas bank charging 23% instead of 10.25%, Cholamandalam investment charging 14.5 instead of 12.5%. Charging foreclosure, visitation, penalty & all type of charges. Suppressing facts using sarfesai act. Justice is due.
When will RBI fine two repeated violators inspite of several court orders and RBI guidelines both Equitas bank and Cholamandalam investment & finance. Manipulating interest, charging usurious interest, visitation charges, unimaginable charges, foreclosure charges and suppressing facts and filing sarfesai act and taking possession. Justice is due. Will RBI, Supreme court, Consumer council, Finance ministry please look into the matter. Running pillar to post for justice. Cholamandalam staff mocking to DRT, CJM, Ombudsman every officer a plumpy purse thrown to shut their mouth and turn blind eye. Justice is due desperately.
The Hon’ble DRAT Mumbai held that the scheme of the SARFAESI Act makes it amply clear that the creditor is required to consider such representation of the borrower within the stipulated time before proceeding to resort to any measures under Section 13(4) of the SARFAESI Act. Since there is a blatant violation of the provisions, the SARFAESI action has to fail going by the maxim sublato fundamento cadit opus which translates to “remove the foundation and structure falls”
When will RBI fine two repeated violators inspite of several court orders and RBI guidelines both Equitas bank and Cholamandalam investment & finance. Manipulating interest, charging usurious interest, visitation charges, unimaginable charges, foreclosure charges and suppressing facts and filing sarfesai act and taking possession. Justice is due. Will RBI, Supreme court, Consumer council, Finance ministry please look into the matter. Running pillar to post for justice. Cholamandalam staff mocking to DRT, CJM, Ombudsman every officer a plumpy purse thrown to shut their mouth and turn blind eye. Justice is due desperately.
The Hon’ble DRAT Mumbai held that the scheme of the SARFAESI Act makes it amply clear that the creditor is required to consider such representation of the borrower within the stipulated time before proceeding to resort to any measures under Section 13(4) of the SARFAESI Act. Since there is a blatant violation of the provisions, the SARFAESI action has to fail going by the maxim sublato fundamento cadit opus which translates to “remove the foundation and structure falls”
