I have purchased “TVS Fiero” two wheeler from ‘Raigad Autos’ at Alibag-402209, on 4th Oct’2003. Total cost of two wheeler was Rs.52,000/- for which I was introduce to a scam by dealer stating that 60% I have to pay down payment and remaining 40% (i.e Rs.24000/-) I have to pay by loan for 15 months. At Rs.1,600/- EMI.
I was asked to pay Rs.29,800/- (Rupees Twenty Nine Thousand Eight Hundred only), which I paid through Delivery Memo no. 3122 and out of which Rs. 28,700/- was paid to ICICI bank ltd, Mumbai. As per receipt no. 554 by cash and for balance amount, i.e Rs. 24,000/- at an EMI of Rs.1,600/- for 15 months.
While submitting post dated cheques for 15 months, dealer asked me to pay 1+35 cheques, when I asked why should I pay 1+35 cheques. Dealer told me that after 15 EMI of Rs. 1,600/- the remaining 21 EMI cheques will be added as saving loan on which I will get interest of 6.5 to 7 % at the time of maturity i.e after payment of my last cheque EMI, I will get 21xRs1600/- + interest which should come around Rs.36,000/- at the time of maturity.
As per ICICI Bank schedule for payment of loan amount with starting date 7th Nov’2003, till 7th Sep’2006. I have paid all the EMIs as and when the cheque was submitted for clearance from SBI bank. This is as per my saving pass book records.
I received letter from ICICI Bank Ltd dated 1st Sep’2006 stating that installment over due for month of August’2006 Rs 1600/- with over due charges Rs.100/- and cheque return/other charges Rs.225/- total due Rs.1925/- and at the bottom of letter stating “If the payment is already paid. Kindly ignore this letter”.
Again in the month of 1s tOct’2006, I received a Demand Notice, stating upon perusal of your records, we find that a sum of Rs.3850/- is due and payable by you as on 10/10/2006. Net outstanding amount Rs3850/- and ask me to pay the amount within 48Hrs.
I enquired at my bank SBI at Alibag and conformed from bank manager that there is no cheque bounce and said all the cheques are been paid to ICICI bank Ltd as and when they have submitted.
Final on 9th Dec’2006. I received a notice from Mr. R.L Motwani Advocate High Court, Mumbai. Stating to clear one outstanding EMI of Rs 1600/- eash along with the delayed payment charges, bounce charges etc. within 48Hrs.