Bank should pay in cash against demand loan

Allahabad Bank Phagwara fails to make payment for Demand loan in cash

Case No.
First date of hearing:
Next date of hearing:


COMPLAINANT: Rajneesh Madhok.
R/O. Nehru Nagar,
Streeet No. 2,
Railway Road,
Phagwara
Versus
RESPONDENTS:
1. Chairman Allahabad Bank, 2, Netaji Subhash Road, Calcuta.
2. Managing Director, Allahabad Bank, 2, Netaji Subhash Road, Calcutta.
3. The Branch Manager, Allahabad Bank, G.T. Road, Phagwara.
4. TOfficial, Allahabad Bank, G.T. Road, Phagwara



COMPLAINT FOR NON -PAYMENT OF CASH AGAIST LONG TERM DEMAND LOAN. FDR SUBMITTED AS LIEN NO. TD 746919 FOR DEMAND LOAN @ INTEREST AT 8.5\% ON QUARTERLY BASIS.

Respectfully,

I submit

INTRODUCTION,

1. That I, Rajneesh Madhok S/O. Shri. Sat Parkash Madhok resident of Nehru Nagar, Street No. 2, Phagwara, District Kapurthala, Ph. 01824-262569 (O), 268210 (R), Mobile: 094173-06415, Tele-fax: 01824-262569, E-mail: [email protected] aged 43, is the compainant in the case . I requested Branch Manager, Allahabad Bank to please make payment in cash Rs. 30,000/- against long term demand loan. The Term Deposit Receipt No. TD/E 746919 had been submitted as lien against the above mentioned loan a/c. Sir, the loan amount could not be disbursed in cash without any restriction/hindrance by the Concerned Manager & Staff. But the concerned Branch Manager & Staff refused my request and returned my documents without assigning the justified reasons.
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2. That I also requested to accommodate me by giving my reference that I, Rajneesh Madhok, is the Registered member of CORE. (India?s On-line Consumer Redressal System). Where Consumer?s complaints are acknowledged and speedly resolved by the decision making level. An official agency of Ministry Of Consumer Affairs, Govt. Of India, New Delhi. So, the case should not be lingered on.

3. That I requested Branch Manager and staff to resolve complaint but they could not accomodate. Though it was of great value for them and the staff should need prompt attention to have satisfied customer. Even then they failed to consider my requests.
4. That due to the non payment of Admission fees for the exams of my daughters for which I had been immensely in need of the funds on the same day the career of the students have been blocked.

COMPLAINT:
1. That on April 12, 2007 the complainant approached the Allahabad Bank, Phagwara Branch for sanction of Long Term Demand Loan at 10:30 A.M. The Branch Manager, retruned documents though all the documents were in order All the necessary formalities have been completed. The Concerned Manager had not accommodated by giving Revenue Stamps from the Bank?s premises. The complainat got harassement by collecting the same from one or the other post office for getting those. Lastly he got the Revenue stamps after so much struggle from the Civil Courts Stamp vendors after so much insistence. Though the documents with full formalities have been completed even then the loan could not be disbursed. All those documents are in complainat possession those had not been accepted by the concerned Branch alongwith the F.D.R. number TD 746919, the required document for disbursement of loan.
2. That the Branch Manager and officials behave rudely on the request to disburse loan and make payment in cash.
3. That the complainant requested to the concerned staff that the amount of Term Loan can be disbursed in cash according to the R.B.I.?s guidelines. But the staff did not accommodate the request.
4. That When the consumer requested for non deduction of Cash withdrawal tax, the concerned Manager refused to entertain his request saying that we have not got the guidelines from the Head office. Whereas Honourable Finance Minister has enhanced the permissible limit w.e.f. April 1, 2007.
5. That Under the consumer Protection Act 1946, kindly adjudicate uncerned branch, Branch Manager and the Head office official I could not avail the facility to get the loan whereas the documents which I tried to submit had been returned by the concerned officials on the one pretext or other. So, the complainant should be compensated for the mental and physical harassement by the concerned officaials. So I request to Honourable Commission that I should be granted Rs. 1,00,000/- as compensation for the harassement and mental agony alongwith the expenditures in litigation.
8. That as I was in need of funds with immediate effect but the concerned official refuse to make payment to me. So, I humbly request to Honourable commission to kindly take up my case on day to day basis of hearing.
9. That I am submitting this application on line with that of affidavit duly authenticated for necessary action by the Hon?ble Commission.


Phagwara:
Date:
(????????????.)
Signature of Complainant.
Rajneesh Madhok,
Nehru Nagar, Street No. 2,
Phagwara-144401 (Pb)