How Godrej Capital makes fake promises and do illegal activities

 So I'll start with Godrej Capital's modus operandi when applying for a loan. I applied for a loan with a person whom I'll call AKT for this post (his name is Ajey Kumar Thakur). At first, he made so many promises like literally no fees for anything and lowest interest rate available in market. When he gave me that number, it was indeed comparable rate (not the lowest though). 

Now when all the documents were approved, AKT gave me a sanction letter. It had high rate of interest. When I called that out, he promised me that he would lower it. He then came back but still missed the initial promise. He knew I was in hurry, so probably took advantage of it and retracted on initial promise of lowest interest rate. 

Next, after all process was completed, he told me that I would need to buy a health insurance through him failing which I won't get the home loan. I protested a lot (and he kept making fake promises that he will talk with his team) but later said that it was mandatory since because of Covid they don't want to take any chances. Since I needed the loan soon, I agreed. He didn't tell me the cost upfront but later I saw from disbursement documents that it was 5 lakh (freaking Rs 5 lakh). When I protested, he gave me in writing that when I close the loan, I would get prorated refund on this amount. 

Now, I was waiting on something from builder before disbursement. But he went ahead anyway and disbursed the loan. When I called him, he told me my mother signed on disbursement documents (she is joint loan holder). When I called my mother, she told me she didn't sign. 

I then asked AKT for signed documents and asked my mother why she signed. She identified that those were not her signatures. When I called AKT, he told that sometimes they sign for NRIs themselves. Such a fraud he is! I kept asking for an investigation from Godrej Capital's side on forging the sign but he kept ignoring.

Please prevent yourself from scams and don't go with Godrej Capital. In my next post, I'll detail on how they kept increasing rate of interest, how I understood their insurance fraud, and what all fees do they hide.