I approached M/s. Fullerton India Credit Company Limited. for Personal loan of about Rs.1 lakh for 3 yrs.During the enquiry at the office of M/s. Fullerton, I specifically, enquired about processing fee, other charges, and the levies, if applicable for the loan. However, I was not informed of specific charges apart from the loan amount inspite of the specific enquiry. On submission of all the required papers for the sanction of the Loan I was assured a loan amount of around Rs.1 lakh @ at about 18%. I was also assured that the sanction letter along with Welcome kit will be sent to me at my communication address. And I was orally informed that a loan amount of Rs.93000 has been approved.Thereafter, the sanction letter and the welcome kit was not delivered to me, but one communication in the form of welcome letter was sent me.The welcome letter did not have any details of the loan.I was regularly servicing the loan and never defaulted instalment for 18 months. Subsequently, I desired to close the loan by prepayment and demanded outstanding balance loan amount.To my surprise, the outstanding loan amount turned out at Rs. 65809 as on 11-05-2013, much higher than the loan disbursed inspite of regular repayments.I further state that M/s. Fullerton never gave me loan account statement or any other communication to know the status of loan repayment.On seeking status of the loan I was informed that I had availed a loan of Rs.100000 @ 33.68%, whereas in reality the first and final PL loan disbursement was made of Rs.93000 only.When enquired about the discrepancy between the sanction amt and the actual disbursement, I was informed that amt of Rs.7000 was deducted as processing fees and other charges, which is unjustifiable, as I had to pay the processing fees and moreover I was charged compound interest on the processing fee.On observing exorbitant outstanding loan balance inspite of regular repayments, I approached Thane Branch of M/s. Fullerton personally and explain my grievance to Shri Danny, who directed me to lodge complaint over the mail.As directed I had lodged the complaint on 21-08-2012

I was willing to settle the justified loan amount, the company from time to time, over again and again repeatedly misled us, caused us mental agony, financial losses, threatened us, mis-selled the products and charged us wrongly for the products and services which were never availed by us, neither submitted supporting documentary copies of acknowledged terms of sanction, sanction letter or agreement and treated us with humiliation, I am left with no other option other than seeking the appropriate legal remedy and appropriate compensation from the appropriate legal forum against unfair practices. I demand following reliefs. 1.The Quantification of Loan amount at actual disbursement less repayment. 2.Compensation of Rs.200000 for mental and physical harassment 3.Cost of Legal proceedings.

Complainant Information
name- Hetal13