M/s Jamco (Pvt) Limited Reviews & Complaints
By: Engineer Jameel Ahmad Malik
Contact information:
M/s Jamco (Pvt) Limited
To,
MR. NAUMAN K. DAR,
PRESIDENT & CEO OF HBL,
HABIB BANK PLAZA,
I.I.CHUNDRIGAR ROAD, KARACHI.
Sub: COMPLAINT AGAINST THE LOAN BRANCH OF HBL.
Dear Sir,
Reference letter dated February 20, 2017 duly signed by Mr. Gul Buhar Khan, Senior Regional Chief-North and Mr. Abbas Ali Qizalbash, Regional Asset Head-Islamabad in which they stated as under:-
“Nevertheless, we look forward for mutually beneficial relationship and reiterate that HBL may consider your request for further increase in limit once the required performance is established besides the desired level of revenue and working capital need as envisaged in your financial statements. We are thankful for your time and considering HBL as your bank.”
2. And accordingly after the aforesaid reply, we mortgaged our property in favour of HBL vide registered Mortgaged Deed No.1007 dated 11-03-2017 before the Sub Registrar Attock and the same was entered in the revenue record vide Mutation No. 7594 dated 16-03-2017 in the name of HBL. We provided the original mortgaged deed and attested copy of the Mutation No. 7594 dated 16-03-2017 to HBL.
3. The loan of Rs.6.5 Million was approved and sanctioned by the competent authority but till now the loan branch of HBL has not released the sanctioned loan limit of Rs.6.5 M to our Company on one pretext or the other inspite of this very fact that we have mortgaged our property in the name of HBL. We have observed that the loan branch of HBL is working exactly on the pattern of the Government and not functioning as required in the private sectors of banking.
4. It is really very strange and looks awkward that the HBL after going through all the requisite documents mortgaged our property as security but after the lapse of more than one and half month of the mortgaged deed, not even a single penny was released to our Company from the approved and sanctioned loan limit of Rs.6.5 Million.
5. The latest un-necessary obstacle which the loan branch of HBL has now raised is that they want the original registry of the sale deed No.1705 dated 22.11.2001 of the property which has now been mortgaged in the name of HBL as above referred. In our humble opinion as and when, we have provided the attested copy of the registry of that sale deed No.1705 dated 22.11.2001 duly attested by the Registrar of Attock to HBL and moreover, the property in question has now been mortgaged in the name of HBL w.e.f 11-03-2017, what is the worth of the original registry of the sale deed now. In law and on facts, such an objection by HBL loan branch is nothing but just to humiliate those customers of HBL like us, who are taking loan from HBL first time in their life.
6. It is really very sad to say that our forefathers were maintaining account in HBL since the day it was incorporated. Moreover, I have myself an account in HBL for more fifty years but the way loan branch of HBL is treating us and our Company is not only uncivilized but against all the principles of business norms.
7. Keeping in view such a treatment by the loan branch of HBL with our Company, we have requested them number of times to redeem our mortgaged property but surprisingly neither the loan branch of HBL is willing to redeem our mortgaged property nor willing to give us a single penny out of Rs.6.5 Million loan which has been approved and sanctioned in favour of our Company against the mortgaged property as security.
8. Now, we have no option except to approach your good honour with two requests namely as under:-
Firstly – To direct the concerned loan branch of HBL to release our approved and sanctioned loan of Rs.6.5 Million forthwith to our Company against the property which was mortgaged in the name of HBL vide registered Mortgaged Deed No.1007 dated 11-03-2017 which was done before the Sub Registrar Attock and was entered in the revenue record vide Mutation No. 7594 dated 16-03-2017 in favour of the HBL.
OR
Secondly – To direct the concerned loan branch of HBL to redeem our mortgaged property forthwith, this has market value of Rs.30 Million in an open market.
9. Sir! I am myself feeling embarrassed to approach you again and again about this loan but it is due to the fact that the dealing and working of loan branch of HBL don’t look like a branch of the private banking especially as that of HBL and the same is operating in a way which normally the department of the Government functions and works. In the end, I request your good honour to take any decision out of two as aforesaid mentioned in the interest of your account holders like us and our Company. An early decision in this context is humbly and graciously requested.
With regards.
(Engineer Jameel Ahmad Malik),
Chief Executive of Jamco (Pvt) Ltd.
Cell No: 0300-9543331
Web: www.jamco.com.pk