WITHOUT PREJUDICE

9th April, 2018

To,
The Governor,
Reserve Bank of India
Consumer Education and Protection Department,
Central Office, 1st Floor, Amar Bldg
Sir P.M. Road, Fort,
Mumbai-400001

Sub:– Unlawful, Illegal and Corrupt Practices adopted by ICICI Bank.

Ref: (i) Letter dated 18th April 2015 complaint against the ICICI Bank for the illegal
practices adopted by the ICICI Bank with respect to the Home Loan bearing
Account No: LBMUM0000186701
(ii) Your Acknowledgment Letter dated 23rd June 2015 to ICICI Bank.

Dear Sir,

We refer to our complaint letters dated 30th March, 2015 and 18th April, 2015 regarding the non-adherence by ICICI Bank to the established rules set by RBI (Annexure-1 Colly). We also refer to your letter dated 23rd June, 2015 which was addressed to ICICI Bank regarding our complaint against the said ICICI Bank. (Annexure-2)

We state that, in our letter dated 18th April, 2015, the complete and detailed facts as to harassment and arbitrariness meted out to us by ICICI Bank were enunciated by us. We had also stated about the sufferings aggravated by the ICICI Bank by issuing the illegal and mala-fide SARFAESI Notice, with a sole motive to harass us. That the conduct of ICICI bank and its subsidiary ICICI Lombard has not only harassed us and prejudiced our rights, but also caused us grave loss to reputation and opportunity in profession and finances which are irreversible and irreparable. We further say that the same was acknowledged and taken into cognisance by you i.e. the RBI through the letter dated 23rd June, 2015 addressed to the ICICI Bank, stating that the “contents of the of the Complaint are self-explanatory and request the ICICI Bank to look into the issues raised by us and asked the ICICI Bank to furnish the comment on same”. With reference to the above mentioned we submit that ICICI has not taken any reasonable efforts to resolve our issues nor does the RBI has taken any reasonable efforts to address the concerns for the same. We state that ICICI Bank further proceeded by flouting all laws and norms to harass the complainant by asking for penalty at no fault of his/her and/or providing false documents and RBI the regulatory body sat with deaf ears by taking no action or follow up against the complaint addressed by us.

We further state that, Complainant had made request to the ICICI Bank to provide the alleged Loan agreement bearing Home Loan A/c. No. LBMUM0000186701, for which the complainant also had to pay the fees to obtain the copy of the said agreement. The ICICI Bank failed to provide the alleged Loan agreement and instead produced a forged document of Loan facility Application.

We further state that this has caused agony, embarrassment, and loss of reputation, health adversities, deprivation of growth opportunities and financial loss and is still continuing and is irreparable and irreversible.

Thus, under such circumstances it is the duty of RBI to take the matter judiciously and give attention to it as a common consumer is being subject to continuous mental harassment and being made subject to penalty at no fault of his/her then such action should be seen as corporate high handedness and arbitrariness, and to take measures to regulate the functioning of the ICICI Bank and/or should also cancel License of the ICICI Bank, if there is any such faulty system or law exists then both needs to be properly amended and rectified.

We further state that in spite of writing several letters and complaints to the ICICI Bank, the ICICI Bank continued to harass us by flouting all the established laws, rules and norms and gone to the extent of abuse of judicial process (a complaint bearing Case No. 417/2018 in the Court of the Chief Metropolitan Magistrate at Esplanade, Mumbai has been filed by the complainant U/s 191,192,193,195,196,199, 200,208,209 & 210 of IPC read with 340, 250, 357 of Cr.PC against the ICICI Bank a copy of the said complaint is annexed as Annexure-3 with this notice for your peruse and record.) and the RBI being the regulatory body did not take any cogent action against the ICICI Bank even after taking the cognizance of the above mentioned complaint dated 18th April 2015 in their letter dated 23rd June 2018. Thus, due to inability to take any cogent steps by the RBI, and acting highly irresponsible amounted to loss of reputation and mental harassment to us.

In the circumstances aforesaid, I hereby finally call upon you to take measures to regulate the functioning of ICICI Bank and/or should also cancel License of the ICICI Bank and/or also call upon you to pay us Rs. 50,000,00/- (Rupees Fifty Lakhs Only) as damages but not limited to the loss and damage caused to us but also for the mental harassment, reputational loss, financial loss and loss of business and opportunity etc. within 30 days from the date of receipt of this Notice, failing which I shall be constrained to invoke legal action against you at your entire risk as to cost and consequences, which please note.

Yours Sincerely,

​

Neeraj Kumar Jha

(Advocate)

CC vide e-mail :
1. Ministry of Finance
E-mail: wim-dfs@nic.in

2. Central Bureau of Investigation.
E-mail : sp1acmum@cbi.gov.in

3. Hon’ble Prime Minister of India Office
E-mail: connect@mygov.nic.in