Magma Fincorp Ltd. - harassing me
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Complaint by: on December 9, 2011, 12:46 pm in Loans All

Respected sir,
I am k.vijay kumar s\o manikyam i was taken loan from your finance company (proposal no.pg/0026/c/07/000950)for maruthi 800 AP 13N 8995.

My car as been seized in 22-11-2011, because due of 6 installments I gone with car and I talked with Ur officials I have money in my pocket Rs20000/- I said I will pay 20000 and will clear my dues by paying 2 installments for every month if u want i will give in written letter but your company officials nobody listened to my words. My car got accident on 9-11-2010, and I didn't repaired for 7 months I repaired in April of 2011, on that day I have 9 installments due for you. I spent money for car repairing Rs 70000/-. I asked for your officials y you seized my car as per agreement we seized the car for rules regulation. The car is in garage nearly 6 months and 9 months due y didn't u seized on that day as per regulations.
After seizing car your officials said pay Rs 35000/- then we can release your car. I paid Rs10000/- on 26-11-2011. They gave in written. Now they r not giving response and they r telling to payRs45000/-.

So kindly release my car I will pay Rs25000/- try to release my car. If u wont I will go through TV media and press. even your officials didn't given any seized letter while seizing car and u didn't informed me before seizing the car.

Kindly release my cars please don’t harass custamur.try to understand my problem and release my car I will pay regularly my installments. Otherwise I will approach through TV media and press and court.







1. My check as been dropped by you in my account on 13-oct-11 without intimation about settlement.
2. Y did you taken Rs 4250/- on 30-10-2011 and Rs 10000/- on 26-11-2011 after the settlement.
3. Without intimation my account has been settled and seized the car.
4. When my car got accident the car is in garage for six months at that time 9 installments are in pending y didn’t u seized the car at that time I repaired the car with Rs70000/-
5. But u has given information for selling car but u doesn’t have time for previous matters to intimate.
6. I am waiting for your response. Otherwise I will approach TV media and print media finally court.
7. If I talked anything wrong though paper for that I am sorry can u send agreement Xerox copies for me if u doesn’t mind.


Waiting for your reply

Thanking u

Yours faithfully,
k.vijay kumar
Ph: ********99

Complainant's Goal: I want my car i will pay Rs 25000\- and i will pay installments regularly.
Complainant's Target: Magma Fincorp Ltd.
Complaint Location: IndiaAndhra PradeshHyderabad
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Fri, 09 Dec 2011  Message from iComplaints.in Helpdesk

An email communication has been sent to Magma Fincorp Ltd. on December 9, 2011, 12:46 pm