i rida Agnihotr & ies, WITHOUT PREJUDICE 18% April 2015 RPAD To, (A) The Authorized Officer, ICICI Bank Led. RPAG Towers, Opposite Hotel Kohinoor Continental, Andheri Kurla Road, J.B Nagar Andheri, Mumbai. (8) Mr. Amol Rane (Contact No: +91-9870171036) ICICI Bank Led. RPAG Towers, ‘Opposite Hote! Kohinoor Continental, ‘Andheri Kurla Road, J.B Nagar Andheri, Mumbai. (©) The Branch Manager, ICICI Lombard General Insurance Company Led. Zenith House, Keshavrao Khadye Marg ‘Opp. Race Course, Mahalaxmi, Mumbai PIN- 400 034 Sub:- Home Loan Account No: LBMUM0000186701 Ref:- (i) Letter dated 31s March, 2015 regarding revocation of your Notice U/S 13(2) of SARFAESI dated January 31, 2015. (ii) Representation / Objections dated 30% March, 2015 under Section 13 (3A) to your Notice U/S 13(2) of the Securitisation & Reconstruction of Financial Assets & Enforcement of Security Interest Act, 2002; dated January 31, 2105. I. Please refer to your notice dated 31» January 2015 under section 13(2) of the SARFAES! Act (hereinafter “SARFAESI Notice”). Vide our letter dated 30% March 2015 (hereinafter “Objections"), we have replied to the said Notice raising our strong objections to the Notice, as the same was based on incorrect facts and thus illegal, untenable and lacking any force of law. Vide our said Objections, we had also put you as well as RBI and Government of Fi WAgnihotri India through Secretary Banking, Ministry of Finance: to Notice under section 80 of CPC and called upon you to withdraw your said Notice. We are in receipt of your letter dated 31 March, 2015 (hereinafter “Reply” / “Revocation ”) in response to our Objections dated 30% March, 2015, which was received by us on 06% April, 2015. By the said Reply, you have revoked the said SARFAESI Notice. ‘Admittedly and evidently, the said Notice under Section 13(2) of the SARFAESI Act was bad, illegal, faulty and without any force of law, hence withdrawn by you. However, we were shocked and surprised to note the reasons adduced in your letter dated 31s March 2015 for revoking the said SARFAESI Notice. In your reply to our objections, you have vaguely extended sole reason that “... due to some unintentional typographical errors the sanction amount as mentioned in above referred notice Uls.13(2) is incorrect, and hence we hereby revoking the above mentioned notice issued to you, which you may please note and shall issue a fresh notice in case if you fail to clear your outstanding dues. We sincerely regret the inconvenience caused 10 you in this regard.” Please note that the reason adduced in your Reply / Revocation in response to our Objections are vague, evasive, and it does not addresses our Objections at all. You have deliberately failed to disclose the ‘typographical error’ in the sanction amount. Further, vide your Reply, you have threatened to issue a fresh notice in case of our failure to clear the outstanding dues, contrary to it you yourself had failed to specify the actual legitimate ‘outstanding dues payable by us to the ICICI Bank. Please note that, as an Authorized Officer, while issuing the said SARFAESI Notice, you were very well aware of the Breach of Contract committed by the ICICI Bank and its willful and arbitrary act of non-disbursal of sanctioned Home Loan amount in full, maliciously disputing the Final Sanction Amount. Apparently, your contention of “unintentional typographical errors” in the SARFAESI Notice is merely an afterthought to evade the responsibility and answerability as an Authorized Officer to address the Objections raised by us. This is highly irresponsible approach at the level of Authorized Officer issuing Section 13(2) Notice under SARFAESI Act. WwSrSy MATTERS RELATED Agnihotrigy Jha Associates 6. Please note that in the Objections, we have specifically and categorically pointed our that we had always been ready and willing to repay ICICI Bank the lawful, valid and accrued ‘outstanding home loan amount provided they must have to be valid, accrued, legitimate, lawful, reasonable and not otherwise. You have not only adopted an evasive approach towards the just and legitimate objections raised by us, but have irresponsibly and deliberately failed to address the grievances and objections raised by us in our letter dated 30% March, 2015. Moreover, you have added threat of issuing fresh notice in case we fail to clear the ‘outstanding dues, but nowhere specified the valid, accrued, legitimate, lawful, reasonable outstanding dues, 7. This approach at your level is highly unwarranted, high handed and cuts a sorry state of affairs (being a large banking services organization) within your organization at the cost of gullible and innocent borrowers like us. 8 The admitted position laying foundation for the revocation of your SARFAES! Notice exposes the arbitrary and irresponsible action at your end in issuing the said Notice to us, without verifying your own records, which were repeatedly brought to the ICICI Bank’s notice by our letters, e-mails, and complaints time and again. This act by you and your employer ICICI Bank has caused huge reputational, financial, emotional, moral and physical damage and loss to us, land that the same can neither be recovered nor will any financial damages / compensation justify the sufferings illegally forced upon us for the sole reason that we availed the said home loan facility from ICICI Bank, which you may kindly note. 9. Further, in the said Reply / Revocation, you have deliberately again not disclosed and explained the ‘typographical error’ in the sanction amount. You have also failed to put forth the actual legitimate payable outstanding amount and threatened us to take actions against us if we don’t make the payments of the outstanding, which again is a disservice and doesn’t befits of a bank of a repute of ICICI Bank.ociates = Agnihotr @ Jha As: 10. This casual, lackadaisical manner of response to our Objections, at the stage of issuing and revoking statutory notice under section 13(2) of SARFAES! Act, is not only highly irresponsible and condemnable act on the part of the ICICI Bank but it also goes to prove that our concern and contention that the ICICI Bank has throughout acted arbitrarily, in ‘complete violation of the standard banking practices, and even the Authorized Officer(s) issuing the aforesaid SARFAESI Notice and Reply were equally careless and irresponsible throughout. Our concern towards the harassment and arbitrariness meted out to us by ICICI Bank, its Officers and its Agents is once again inter-ali pointed out for your convenience as under: From the very first disbursal of Home Loan Amount, ICICI Bank has repeatedly charged undue and unjust interest on the amounts disbursed by issuing pre-dated ‘cheques and handing over the same for disbursal at a belated stage. Due to this act of ICICI Bank, we were compelled to pay unjustified interest amount and also, due to belated disbursal from ICICI Bank, the Builder repeatedly imposed penalty for late payment. (See Builder's Legal Notice Annexure 55 to Our Objections dated 30.03.2015). ‘At one instance, ICICI Bank knowingly with malice intention issued cheque for disbursal of an amount much higher than the amount required for disbursal under the demand letter. ICICI Bank coerced us to handover the cheque to the Builder. Also it arbitrarily charged interest on the excess amount as well. Later, when the builder offered to refund the excess amount to the Bank, ICICI Bank refused to take the refund of the excess amount. (See correspondence Annexures-24 Colly, 25 , to ‘Our Objections dated 30.03.2015). Subsequently, ICICI Bank disputed its own sanction letter/ sanction amount of Rs. '48,00,000/- towards Home Loan despite of our pointing out to the ICICI Bank about the final sanction letter and the final sanction home loan amount ICIC! Bank willfully and deliberately disputed the final sanction loan amount and went ahead to stop any further disbursal highly prejudicing our rights and interest in the said subject property.ICICI bank wrongfully and maliciously continued to charge interest on the previously disbursed amount though it failed to make further disbursals on evidently false basis. ‘Ac this juncture we were under huge pressure from the Builder to pay the disbursals as per the Demand Letters issued by the Builder including the amount, which the ICICI Bank was required to pay under the Home Loan agreement. The Builder issued Legal Notice through its Advocate to cancel the allotment of the said Flat Premises (which was the subject matter of the said Home Loan) if we failed to pay the amounts due to the Builder which amount was payable by the ICICI Bank under the said Home Loan Agreement. Admittedly and evidently, the ICIC! Bank, despite our repeated request, deliberately failed to make disbursals it was obligated to pay under the Home Loan Agreement, and we were at the verge of losing the allotment of the said Flat premises as also losing the entire money invested so far against the said Flat Premises (Annexures 55, to Our Objections dated 30.03.2015 being the Legal Notice issued by the Builder’s Advocate threatening to cancel the Allotment of the said Flat Premises). In the circumstances, we were constrained to stop the interest ECS facility as the ICICI Bank was drawing illegal interest, at the cost of breach of the Home Loan ‘Agreement, such the instruction for the stop of payment to the ECS of pre-equated interest on the till then disbursed amount was intentionally instructed to our source bank in order to draw the attention of ICICI Bank towards our grievances and to address and resolve the issues at the earliest. In addition to this, for the mischief on its own part, the ICICI Bank declared our home Loan as NPA. As a result of this, our CIBIL Rating / Financial reputation got negative. This totally jeopardized our ability to avail loanfinancial facility from financial institutions, even for any other purposes especially amount required to increase the office infrastructure to meet out our professional growth opportunities, Forget about the huge loss of professional growth opportunity, we were left with no option but to borrow loans from friends, relatives and others, apart from gold loan against our family jewelries at much higher rate of interest, to pay to the Builder the amounts, ICICI Bank was under obligations to disburse under the Home Loan WyAgnihotri Jha Associates Agreement. (See Annexures 64, 65 to our Objections dated 30.03.2015 being the receipts against gold loans etc.) Further. ICICI Lombard, a subsidiary of ICICI Bank, which was introduced by ICICI Bank to me and which issued Home Insurance Policy against the said premises, also confirmed that the premium charged by it from us towards the Insurance was for an amount of Rs48 Lakhs being the sanction amount declared by ICICI Bank, with respect to Insurance Policy No: 4013/ICICI-HSP/379406/00/000, whose validity is for five years ise 25/07/201 | ~ 24/07/2016; We also wrote a letter dated 10® July, 2013 to ICICI Lombard informing it about the abrupt breach of contract by ICICI Bank and the Bank's failure to disburse further loan amount, and thereby calling upon the ICICI Lombard to make good the balance disbursal to the Builder, and sent them the e-mail too regarding the same. It is pertinent to note that, ICICI Lombard should had addressed the grievances of its customer, or should had given the response to the grievances. However, ICICI Lombard chose to refuse to receive the letter sent to it by Registered AD and we found that the letter returned back to us with a note “Returned without Instruction”, showing the meeting of mind and common modus with ICICI Bank in harassing us. Further, the ICICI Bank, under the guise of resolving the issues, which were created ‘out of its own mischief, did nothing at all, except using it as time buying tool. Ie is a matter of record that the ICICI Bank never reverted to or addressed any of our grievances; complaints repeatedly communicated to it by way us by way of Written ‘Complaints, emails, and telephonic communications. It is pertinent to point out that ‘the Officials of the Bank have time and again unofficially and off the record admitted the blatant error, mistake and deliberate deficiency in services by the ICICI Bank, none dared to state the same officially for obvious reasons. For taking us for a ride for years together, the ICICI Bank suddenly issued the SARFAESI Notice, which it abruptly revoked without addressing or replying to the objections categorically raised by us in our Objections. Ne:on Agnihotri ha Associates . That the conduct of ICICI Bank and its subsidiary ICICI Lombard. as are evident form records and also from the sequence of events, has not only harassed us, prejudiced our rights and interest in the said Flat Premises, but also caused grave loss to reputation, loss of opportunity in profession, and finances which are irreversible and irreparable. The agony, embarrassment, stress, anxiety, reputational loss, health adversities, deprivation of growth opportunities and financial loss undergone by us, are still continuing and are irreparable and irreversible. |. The sufferings were aggravated by the ICICI Bank issuing the illegal and malafide SARFAESI Notice, which was evidently issued without application of mind, and with the sole motive to harass us further. . The said Reply of the Authorized Officer of the ICICI Bank also is vague, evasive, threatening, to further harass us. The motive of the ICICI Bank, as reflected from its conduct throughout, was to earn maximum interest by all possible illegal and/or illegitimate means, and to compel us to fall to its trick, it applied all possible methods, which were apparently unjust and illegal, from belated handing over of the cheques for disbursal, to excess disbursal at one instance, to finally denying any further disbursal, leading to blatant breach of the Home Loan Agreement by the ICICI Bank. Even from the tone and tenor of the SARFAESI Notice and the Reply, it is clear that these were in continuation of the harassment to which we are subjected from the date of the Home Loan Agreement. In view of the above, kindly take notice that we will be taking necessary advice from our Legal ‘Advisors and shall proceed against you, ICICI Bank and its subsidiary company, and also against the RBI and Govt. of India for being highly irresponsible tantamounting to being handin glove and collusive in fleecing the public money by illegitimate means and doing a very bad service to your clients. Also the reputational injurylloss, mental harassment and loss of opportunity attributable to the ICICI Bank will have to be made good to us. We call upon you to pay us Rupees Ten Crores Only (Rs. 10,00,00,000/-) as damages for the loss ‘and damage caused to us including but not limited to the mental harassment, reputational loss, financial loss, loss of business and opportunity etc. for which ICICI Bank is solely responsible. 18, We hope better sense will prevail and you will abstain from taking any actions as threatened. Yours,sincerely, Copy marked to: |. Managing Director, ICICI Bank; 2. Governor, RBI 3. Secretary Banking, Ministry of Finance: Govt. of India; P'S : For convenience of reference and with an intent to save paper and being environmental friendly, please “copy” the following link and paste to the “internet browser” to get access to the complete content of Objections dated 30% March, 2015. heeps//drive google com/opentid=0B2xKvQnOFnW_dmNTNXFCTIKSSHe8authuser=0 Enck Copy of ICICI Letter dated 31-03-2105a ICICI Bank = = March 31, 2015, Mrs. Rati Agnihotri Jha A701, Kalpataru Classic Chincholi Naka Malad Dal Mill Compound, Off S.V Road, Malad (W) Mumbai - 400064 Mrs. Rati Agnihotri Jha Flat No. 1501, 18th Fir, Antartica-C, Bldg. 9, Lodha Aqua, Vill-Mahajanwadi, Dahisar (E)., Mumbai 400068 Mr. Neeraj Kumar Jha 4-701, Kalpataru Classic Chincholi Naka Malad Dal Mill Compound, Off S.V Road, Malad (W) Mumbai - 400064 Mr. Neeraj Kumar Jha Flat No. 1501, 15th Fir, Antartica-C, Bldg. 9, Lodha Aqua, Vill-Mahajanwadi, Dahisar (E)., Mumbai 400068 Mr. Neeraj Kumar Jha Agnihotri and Jha Associates ‘A-27 Ram Kutir Bungalow Pushtikar Soc, Jogeshwari Mumbai 400102 Mrs. Rati Agnihotri Jha Agnihotri and Jha Associates ‘A-27 Ram Kutir Bungalow Pushtikar Soc, Jogeshwari Mumbai 400102 Advocate Anant Upadhyay ANP Chambers Advocate & Solicitors A.27, Ram Kutir , Pushtikar Society, Jogeshwari West, Mumbai-400102 ICICI Bank Limited Regd. Office: "Land Mark", Race Course le, Vadodara 390007 naa CIN Leste0GJTeB4PLcozi0r2 2 Bhopal 3360777 Chennai 3366777 Te 3366777 « Gujarat 8000667777 « Gur; = Himachal Pradesh. 9817667777 -» ‘Changigart Emakularr fon 338677 Te Haryana 901768777) ‘Hyderabad 33667777» Jaipur 3366777 Kemataka 8008607777 '« | Kerala 9020687177 « Kolkata 23687777 Lucknow 3306777 « Madhya Pr 7 «Maharashtra. 9021667777 = Mumba 3366777 «Paina 3300777» Punjat Shimle 7877667777 » Ranchi 3366777 7 pth bh find S306777 © Chime7 @icici Bank Dear Sir/Madam, Ref: 1. Home Loan Account no. LBMUM00001867601 2. SARFAES! 13 (2) Notice dated January 31, 2015 bearing Reference No. ‘SARIB13/P/151763/29729/LBMUMO0000 1867601 ‘SARIB13/P/151735/29729/LBMUMO0000 1867601 ‘SARIB13/P/151708/29729/LBMUMO0000 1867601 ‘SARIB13/P/151795/29729/LBMUM00001867601 SARIB13/P/151738/29729/LBMUM00001867601 ‘SARIB13/P/151817/29729/L BMUM00001867601 3. Your reply dated March 30,2015 to our SARFAESI notice dated January 31, 2015 This is with reference to the captioned SARFAESI 13 (2) Notice dated January 31,2015 (hereinafter referred to as ‘the said Notice’) towards your aforementioned Home Loan Account no. LBMUM00001867601 with ICICI Bank Ltd, Please note that due to some unintentional typographical errors the sanction amount as mentioned in above feferred notice U/s. 13 (2) is incorrect, and hence we hereby revoking the above mentioned notice issued to you, which you may please note and shall issue a fresh notice in case if you fail to clear your outstanding dues. We sincerely regret the inconvenience caused to you in this regard Yours Sincerely, Fog ICICI Bank Ltd., ICICI Bank Limited Abovedebad 39861777 ae eae 1 ahgyal Sd6oi7? 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