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ICICI Bank putting Lien on Saving Account

This is a discussion on ICICI Bank putting Lien on Saving Account within the Banking forums, part of the Business & Finance category; Hi, I am having saving account in ICICI Bank, Marine lines, Mumbai where my salary gets credited. On 29.07.12 when ...

  1. #1
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    Default ICICI Bank putting Lien on Saving Account

    Hi,

    I am having saving account in ICICI Bank, Marine lines, Mumbai where my salary gets credited. On 29.07.12 when I tried to withdraw cash from the ATM the transaction declined due to insufficient fund showing account balance -586613.68. On the same day I contacted the customer care to ascertain the reason. I was informed that my account has been marked lien and the exact reason they can give me only on the next day.
    Next day when I contacted then they informed me that it is because someone has taken used car loan in 01.06.2006 for 215000 at Bhubaneswar (Orissa) and has not repaid any amount and my name appears to be as co-applicant.
    On 30.07.12 I received a courier from ICICI Bank loan department, Lower parel, Mumbai with letter dated on 27.07.12 that

    "We are in the banking business and issue Loans for the benefit of our customers. Under the said scheme you had applied for an ICICI Bank Loan LUBBS00006994229. While applying for the said loan, you agreed to abide by the terms and conditions governing the usage of above said loan and assured to make payments regularly to the bank on their respective due dates as per the statements rose upon you for the use and utilisation of the loan in-question.

    We regret to inform you that you have failed and neglected to honor your own commitments and evaded the payment of the amount standing due in your aforesaid Loan Account.
    We would also like to inform you that despite sufficient time and opportunity, you had failed and neglected to clear your outstanding dues under above said Loan, which were payable on demand.
    Therefore, as per the terms and conditions governing usage of Loan as more particularly mentioned in the welcome booklet, the bank has duly exercised its rights and powers.
    We therefore call upon to pay us the total outstanding amount of Rs. 591986.00 within 10 days from the date of this letter, failing which, we will be constrained to exercise our right of lien and set off in conformity with the terms and conditions of the Loan whereby the said lien amount will be adjusted towards the outstanding loan EMI dues.
    "

    1. Bank is projecting me as main applicant and marked my account lien
    2. I doubt I have signed the document as co-applicant. I know the borrower but I fear that he has misused my documents.
    3. The said loan was disbursed in June 2006 and bank didn't care to contact me as a co-applicant if no EMI is paid against the loan.
    4. I am not aware of what is the development between borrower and bank and what action the bank has taken till date
    5. Why Bank has not taken stern action against the borrower or even taking back the vehicle and why the co-applicant (if so) kept in dark for past 6 years.
    I am a previlege customer of ICICI Bank but with such action and behaviour I am losing my peace of mind and being the sole bread earner, It has created a lot of financial trouble. I am planning to take legal action against the bank.
    Please advise me for further course of action.
    Regards,
    Subrat Kumar Behera

  2. #2
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    Hi,

    We are sorry for the inconvenience caused to you. We have made a note of your loan account number. Our official will get back to you soon.

    Regards,
    ICICI Bank Customer Service Team

  3. #3
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    I had visited the loan disbursing branch at Bhubaneswar on 07.08.12;

    "
    1. I was shown the photocopies of documents related to the sanctioned loan and found The signature in Loan application and agreement has been forged and documents misused and the bank has not enough care for for cross verification.
    2. As per ICICI bank car loan guideline "Who can be the co-applicants for the loan?
    Your spouse or any blood relative staying in the same residence can be a co-applicant ".
    I am not any blood relative of this borrower.
    3. Bank has issued me a letter projecting me as main applicant after marking my account lien and didn't care to inform me any manner before taking action.
    4. Bank has sanctioned loan to a senior citizen without any fixed source of income and without knowing his where abouts.
    5. The address of borrower shows to be at the centre of Bhubaneswar then what are the actions initiated by Bank side since no EMI was paid and each cheque got bounced. Bank has shown liniency and not taken stern action against the borrower or even by taking back the vehicle and the co-applicant (if so) kept in dark for past 6 years.
    6. Now bank is saying that they have taken enough action against the borrower and not ready to disclose the detail.
    7. As per bank the person is not treceable/contactable and now thay are trying to make me the scapegoat."
    Please advise me for action against the bank for such gross negligence and putting me through all these trouble and against the borrower for fraud.


    Regards,
    Subrat Kumar Behera
    Mob-9999800405

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