I had a card no 5543787380233630 with Standard Chartered Bank in the year 2001 and I had used a amount of 21000 for my sister in laws treatment and she eventually passed away. I lost my job and was in a bad situation financially and could not pay up the dues on time.
Then I was approached by a person by the name of Datta Pansare from Standard Chartered Bank and was offered a settlement for 15000Rs.

I paid Rs15000 cash to Datta Pansare in three installments and he had offered me a letter of settlement and told me that the card was now closed and I do not owe anything to the Bank.

I never got any statement or any notice from the Bank after that, and suddenly Shaha Finlease called me up first in December 2010 and then again kept calling all the time saying I owe money to Shaha Finlease as Standard Chartered Bank has sold my account to them and the amount I need to pay is Rs569878.

I was shocked to hear this and I told them that it was already settled in 2001 and they said that it was not possible and asked me to produce the letter. I have misplaced the letter as it has been more then 10 years since I closed the account with them.

They also alleged that a lot of cheques issued by me had bounced and when I asked them to produce the proof they refused. They then approached me to settle the account for 15000Rs vide letter no PU6310 dated 26th July 2011 and then I paid the amount to them in three installments as agreed upon and they had promised to get my name of the Cibil records.

After making this payment they are refusing to remove my name from the Cibil Records which is illegal and should be looked upon as I am not getting any loan from any Bank due to this. Please solve this issue for me at the earliest as I am urgent need of a Loan.

I was promised that this will close the account by a lady called Sarika and now after I have made all the payments she is completely denying the fact. This is very unfair that they have put up a exorbitant amount of 5laks plus on my Cibil without even intimating me about the same.

Standard Chartered Bank never bothered to send me a letter that they have sold my account to Shaha.

They never sent me any communications since the last ten years so this is totally illegal.

I have still not heard back from anyone about my issue and now Shaha Finlease is demanding that I pay them another 30k in one stroke to get my name off the cibil records. I tried to convince them as I am the only earning member in my family and I cant pay this amount in one stroke and I asked for 6 installments. They refused for that and now it is more then six months since they refused or it could have been closed. This is nothing else but total Dadagiri and I hope RBI get's up from it's sleep now and intervenes in this matter, unlike the US and UK where they have Credit Bureau defaulters they also have ways to get Loans at a higher interest rates from the Banks but in India once you become a CIBIL defaulter for any reason be it the Mistake of a Bank you become an untouchable and shall have to beg for the rest of your Life. Indians need to wake up and take this case to the concerned authorities as only a hand few will not make any change.

Best Regards,

Praveen Bellur

Cell: 9270628743