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Not returning of Share Certificate Money

Complain ID : CCN025496   37  

Loans Complaints Complaint Date: January 12, 2017
  • State :  Maharashtra
  • City :  Pune
  • Address: Flat-2, Vishwas Place, Near Trimuti Hospital, Wadgaon Budruk, Singhad Road
Dear Sir/Madam,

I took loan from Saraswath Bank, on OCt-2014 and during that time as per bank T&C condition I will

suppose to buy Share of Saraswath Bank of amount Rs. 25,000/-. As per bank T&C after I will get back

the share amount money once i will return/ Close the loan amount. For this T&C I have written

document from Bank.

Now I have transfer my Loan amount to SBI bank on Sep-2016, and after that when I ask for the share

amount money they will not give me any reply and finally yesterday Mr. Avinash (Br. Manager) told me

that as he discuss with his bank official they will not going to return the money. So as per them

they will be only return the money after 10yrs from the date of issue of share certificate.

But my question is if it is locked for 10yrs why not they inform me and as per the Bank T&C they

told me that after I return the loan amount I will get back my invested share amount of Rs.25,000/-.
So, requesting you to have a look into this issue, it is purely case of fraud done by Saraswath

bank.

Please find the attached document which support all my statement, nowhere it was written that the

share money was locked for 10yrs.
Attached document as below.

1. CHARGES-Fees -screen shot.....here in this sheet at S.No. 2 clearly written that SHARE MONEY (

Refundable after closure of Loan Amount)

2. Screen shot of mail from Bank Mgr.

All doc was there in original, please have a look I can produce those original if required.

Thanks

Best Regards
Bidhan Konar
Pune
Mob: 9764003212
Complaint Against / To: Saraswath Bank

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