• IndiaBulls not providing any services (closed all services) - want to close home loan

Hi,

I would like to close my homeloan from IndiaBulls. But they are NOT opening their branch offices, not attending customer care calls , neither responding to official email address. I have received banker cheques those to be submitted in IndiaBulls. But as they are NOT opening all are with me and I am paying interest both parties.

All financial institutions should be running now but IndiaBulls neither opening nor running even proper customer care service for streamline
I need suggestion how to take it up, appreciate your help and gidences
Asked 2 years ago in Consumer Law

3 answers received in 10 minutes.

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20 Answers

Is branch office in red zone ?

 

if so offices may  remain closed till lock down is lifted on 31 st May 

it is for state govt to permit opening of branch office of housing finance companies 

 

 


You can make online payment by transfer into finance company account 

Ajay Sethi
Advocate, Mumbai
89849 Answers
6516 Consultations

5.0 on 5.0

Write them mail of closing home loan. You are willing to clear full payment today and not liable to any interest. Now arrange the process and till than you are not paying any further amount.

And i think, today it may have opened ?

Yogendra Singh Rajawat
Advocate, Jaipur
21481 Answers
31 Consultations

4.4 on 5.0

You can make online payment t by NEFT transfer 

Ajay Sethi
Advocate, Mumbai
89849 Answers
6516 Consultations

5.0 on 5.0

Its due to COVID probably , write a email to the head office and if you still dont get any reply send them a legal notice.

Swarupananda Neogi
Advocate, Kolkata
2951 Answers
6 Consultations

4.7 on 5.0

send a legal notice to them through your counsel on the registered office address as well the residential addresses of the directors and give them 15 days time, if they are not ready to accept the amount within notice period then after the notice period you may instruct to your bank for stop payment and file a writ petition before the High Court for the same.

 

Feel Free to Call

Nadeem Qureshi
Advocate, New Delhi
6220 Answers
302 Consultations

4.9 on 5.0

You must create an evidences fot the steps taken by you in this regard,.

For that you write a letter communicating your decision to close the said loan by fully discharging the loan amount and the interest accrued as on date.

send this letter by registered post to their office address, get it returned undelivered, keep the correspondences secured so that you can prove it ass an evidence before court in case of any dispute ion this regard after the office opens for normal functions.

 

T Kalaiselvan
Advocate, Vellore
80016 Answers
1674 Consultations

5.0 on 5.0

Hi,it is advisable to wait for sometime as due to lockdown the work force the staff has been effected ..

Hemant Chaudhary
Advocate, Gurgaon
4627 Answers
67 Consultations

4.9 on 5.0

You may not get responses for your emails because once the office is not functioning then how can you expect any response from them.Hence you were advised to write to them and send the communication by registered post.

Due to current pandemic crisis, you will not find any office functioning in normal manner hence you may have to wait for some more time to allow the things to return to normalcy.

T Kalaiselvan
Advocate, Vellore
80016 Answers
1674 Consultations

5.0 on 5.0

You can send them a legal notice for the same to their registered office address and keep the proof of sending the legal notice with you for future use.

After 7 days file a specific performance suit against the company if the efiling portal of your district court is working 

Rahul Jatain
Advocate, Rohtak
5365 Answers
4 Consultations

4.8 on 5.0

- Actually , the statement from IndiaBulls Housing comes under amid arrest of Yes Bank co-founder on alleged money laundering charges , and further Indian independent and professional investment information and credit rating agency (ICRA) downgrades outlook on Indiabulls Housing to negative.

- Hence the IndiaBulls reconstructing its functions , as per the memorandum of RBI. 

- Since, you want to deposit the bankers cheques for closing your home loan , and facing difficulty due to non functioning of its branches in Bangalore, hence for showing your intention for the same , you should send a notice /letter/complaint with its head office based in Gurugram i.e. Indiabulls Housing Finance Limited, Indiabulls House, 448-451, Udyog Vihar, Phase - V, Gurugram - 122001, Haryana, or also lodge your complaint on its head office website dully available online. 

- Further, inform that you will not responsible to pay any interest due to deficiency of services on the part of Indiabulls. 

 

Good luck and dont forget to rating Positively. 

Mohammed Shahzad
Advocate, Delhi
10663 Answers
132 Consultations

5.0 on 5.0

If you have the money bmbut they are not responding then you may file a consumer complaint in the district consumer forum after the lockdown opens. You were ready to pay but they didn't care resulting in losses for you. Collect all evidence relating to the correspondence.

Rahul Mishra
Advocate, Lucknow
13945 Answers
65 Consultations

5.0 on 5.0

1. Then serve a lawyer's notice to it at its main branch in Bengaluru and seek redemption of mortgage.

2. If you still do not receive a reply then on the commencement of regular functioning of courts you can sue it in Consumer Forum to demand the return of documents and also compensation for mental agony. 

Ashish Davessar
Advocate, Jaipur
30763 Answers
972 Consultations

5.0 on 5.0

You need to file a complaint with banking ombudsman if not addressed you can approach consumer court with complaint of deficiency of service. 

Prashant Nayak
Advocate, Mumbai
28570 Answers
101 Consultations

4.4 on 5.0

loans cannot be pre-closed online, therefore you are required to find the nearest branch, where you can pre-close your loan.

Mohammed Mujeeb
Advocate, Hyderabad
19036 Answers
32 Consultations

4.5 on 5.0

you have to wait until lockdown lift. 

Mohammed Mujeeb
Advocate, Hyderabad
19036 Answers
32 Consultations

4.5 on 5.0

Dear querist, 

1. transfer the amount through online mode(Preferably NEFT transfer)

2. send the notice of intimation on their registered mail id and cc your loan agent also. 

3. To be very certain once the lockdown ends, you cans end the formal notice of intimation in hard copy. 

 

even if, they are not responding, it will be considered that you closed the loan once you made the full and final payment including the interest amount upto the date thereof. 

 

Regards, 

YUGANSHU SHARMA 

ADVOCATE 

Yuganshu Sharma
Advocate, Delhi
422 Answers
1 Consultation

5.0 on 5.0

Issue a legal notice to their registered head office in India, stating that you are dissatisfied with their services and want to close the home loan or shift the home loan to another bank. If they do not respond, then approach the consumer court seeking out your redressal.

Kiran N. Murthy
Advocate, Bangalore
1298 Answers
194 Consultations

5.0 on 5.0

Dear Sir/Madam,

You are suggested to write to ombudsman regarding the said action of the IndiaBulls. 

Ganesh Singh
Advocate, New Delhi
6646 Answers
16 Consultations

4.5 on 5.0

1. You should try to make online payment in your loan account.

2. If this situation continues then approach consumer forum against Indiabulls for not providing proper customer service due to which you had to suffer huge loss of interest.

3. Claim waiver of interest and compensation for delay and harassment suffered. 

Mohit Kapoor
Advocate, Rohtak
10687 Answers
7 Consultations

5.0 on 5.0

You can write (email, whatsapp, sms) to the the Head Office and your home branch of India Bulls from where you obtained loan, stating that, you intend to close your home loan by submitting banker cheques  and make a specific mention of not paying interest due to their non availability.

Using the above, you can claim waiver of interest payable.

You have to wait till lifting of lock down, and close the same immediately on their commencing of business.

 

S Srinivasa Prasad
Advocate, Hyderabad
2876 Answers
9 Consultations

5.0 on 5.0

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