We all buy the home of our dreams for well living of our Family. Almost 90% of Indians buy homes by borrowing money from banks or financial institutions because they are not able to pay at one time. That is the reason they get ready to pay interest on their loan, trusting the banks.
Suppose, you take a loan for a home from a well-known bank. You have all the things clear in papers and eventually, after few years, you notice that the interest you are paying is not according to the contract you made with the bank. You came to know about the fraud and complain to the concerned authority of the respective bank. But your voice goes unheard. Then you seek police and court help. Again, no actions. What will you do? Who will you go to for justice?
This is not just an assumption, in fact, a real incident happened to the Sandhu brothers. This is a real story of harassment by banks.
Today, I want to draw your attention to the alarming situation of Bank Fraud with a middle-class family. The Kotak Mahindra Bank not only did fraud with the family but also harassed this family mentally and ignoring the court notices on a continuous basis. Even after the FIR and court notice, this family is not getting any justice and is being harassed mentally by the bank.
Incidents of financial fraud are taking alarming proportions, with middle-class people accounting for the bulk of victims. Individuals are struggling with making financial choices. They somehow manage to take loans from the bank for purchasing houses, vehicles, or for education.
But what happened next is, they have to face the fraud here too.
Now, we can’t trust a bank with big names also.
The middle class is that section of society whose voice remains unheard most of the time. This group however manages to cop up with the increasing price rates and demands of families. In order to fulfill his dreams, a middle-class man at last trusts the banks for loans.
But today, the bank also has breached his trust along with the contract made while signing for the loan.
We are talking about a middle-class family who has taken a loan from Kotak Mahindra Bank for purchasing a bungalow. But the Kotak Mahindra Bank did fraud with this family, harassed them mentally, as well as ignoring the court orders on a continuous basis.
What’s The Actual Matter?
The matter is about Sandhu brothers, Mr. R.S. Sandhu and Mr. Bakshish Sandhu. They have taken a loan from Kotak Mahindra Bank for purchasing a bungalow in Andheri (west), Mumbai in the year 2008. The loan was for 10 years and it was on the floating rate of interest that means their EMI will be high if the rate of interest is high and vice versa.
But in few years of taking a loan, the Sandhu brothers noticed that the interest was not as per the sanction letter. They found that the Kotak Mahindra Bank tampered with the contract signed while taking the loan and increased the rate of interest to double.
When Mr. Sandhu filed a case against the Kotak Mahindra Bank in High Court, the court issued notice to the bank regarding this fraud. Still, the bank seems to have no effect on the court notice. Instead, they continue photographing the bungalow during the pandemic also and harassing the Sandhu family on a continuous basis.
How Long Will Middle Class Suffer?
Every now and then, our society came across such scams and frauds by the banks. Rich section of the society somehow manages it very easily through their connections. But what about the middle-class people? How long this middle-class group has to suffer? When they will get justice? This is a big question for today!
Even after the police intervention, the Sandhu family is suffering from this harassment. This not only shows the loophole in the banking system but also clearly shows the incapability of our judiciary or police to serve justice or secure the people.
Let’s stand together and raise our voice against this fraud. Because today it is the Sandhu family, God knows who’s next and how many people like Sandhus are suffering this silently.