Name of company/service: Mahindra finance
This is to register a complain against the Mahindra Finance.
I have taken a car loan for an amount of Rs.1,00,000.00 from Mahindra Finance,Hyderabad 0n 29-Jan-2012. The loan tenure is 1 yrs, for an amount of Rs. 9200.00 EMI. Mr. Ramakrishnan (Sales Manager)in MF, is the person assisting on this case. I gave him 12 cheque leafs for 1year tenure without date at the time of processing the loan. He stated that the cheque will be dated on 1st of every month and collected an amount of Rs.400/- towards the service charge for availing the date. As my salary will be credited on 31st of every month, I’m ok with date(1st of every month).
In the month Feb 2012 , It was reported the cheque was dishonored due to insufficient fund. On analyzing the fact, I came to know that the cheque was deposited on 26th Jan 2012 instead of 1st Feb 2012. When I enquired Mr. Ramakrishna on this case, he said that it was their accountant mistake, saying that the cheque wrongly dated on 25th of the previous month. He collected a cheque of Rs. 9,060.00, by promising that he will give NOC(no objection) to my bank and respective adjustment as cheque bounce charges.
Again next month, cheque get bounced. This continuous annoying me on every month if my balance is not sufficient on 25th of that month. Bank as well charged a cheque return charges. Even though I report this incident to Mahindra guys on every month, no action taken till date.
Due to this incident, I lost the reputation with bank, I could not able to take Home loan. I haven’t did any mistake apart being a customer of Mahindra Finance.
I recently married person, my dream is buy a car and house. Mahindra Finance broke all my dreams.
This is a disappointing experience I had banking with Mahindra Finance and extremely frustrated
Please take necessary action on Mahindra Finance on this case.
Company Name : Mahindra Finance
Branch Address: 2nd floor VT plaza Road no.1 C-14, KPHB colony, Kukatpally, (opp. SBT rangareddy), AP
Loan type: Car loan
Agreement no#: 1877244
Executive Employee ID:14905