Name of Complainant	Prabhu Agarwal
Date of Complaint	March 14, 2019
Name(s) of companies complained against	State Bank of India
Category of complaint	Banking
Permanent link of complaint	Right click to copy link
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Text of Complaint by Prabhu Agarwal:

Sh. Ram Mohan Mishra

Additional Secretary & Development Commissioner (MSME)

Tel.: 23061176, Fax: 23062315

Room no:-701

Email : dcmsme@nic.in

 

Sh. Sudhir Garg,

Joint Secretary (MSME)

Tel:011-23062241

Room no:-712

sudhirk.garg@gov.in

 

Sh. Piyush Srivastava

Additional Development Commissioner

Tel:23062694 Fax:23061972

Room no:-715

adc1@dcmsme.gov.in

 

Sh. S. Mitra,

Additional Development Commissioner

Tel:23061847 Fax:23061017

Room no:-721

santanu.mitra@nic.in

 

Sh. Anand Sherkhane

Additional Development Commissioner

Tel:23061611

Room no:-717

anand.sherkhane@nic.in

 

Dear Mr. Mishra, Mr. Garg & other decision makers in MINISTRY OF MICRO, SMALL & MEDIUM ENTERPRISES, Government of India.

 

As per the scheme introduced by you, we applied online and were sanctioned in principle and details are given below at the bottom.

 

However, after that, umpteen number of reminders to them, i.e. SBI, to multiple concerned people, SIDBI, Mission DFS i.e. department of financial services, government of India, have been reminded multiple number of times, but none of the persons have bothered to respond.

 

We are manufacturers of LED lights on latest state of art SMT line and assembly line in heart of city of Hyderabad. It is a promising and very fast growing business and we thought at least after your scheme, companies like us would get some support, may be minor, but some. Unfortunately, even that is not coming and same attitude continues. Please find our performance details

 

S.No.	B/E.No. & Date Imports	IGST Paid	Month of Sales	Sale Value	SGST	CGST	IGST
1	7994089/10.09.18(LED)	505712	September,2018	5961842	159920	159920	397886
2	18510/26.09.18(Air-PCBs/Ics)	2141	October,2018	5381804	78833	78833	421770
3	13746/20.09.18(Air-LEDs)	14036	November,2018	3345309	61462	61462	285303
4	8341126/05.10.18(LED Chips,PCBs)	49371	December,2018	4052295	65788	65788	355789
5	8340832/05.10.18(LED)	915498
6	8947413/21.11.18(LED)	856051
7	13916/09.01.19(Air-Signal Card)	1811
8	9708467/19.01.19(LED)	605687
9	9708897/19.01.19(Trolleys)	191929
	Total :	3142236		18741250	366003	366003	1460748

 

You could see in last 5 months i.e. from September to January 2019, we have paid a GST of 31,42,236/- and for a loan of Rs. 65 Lakhs which was approved online, has not been taken up in spite of repeated requests which could be assessed from the mails below. A company with such huge turn over, promising business, promoted by government of India, is struggling to get bank advance which is not even equal to the GST paid, is not proper. Please tell us why banks are doing like this? Why they don’t want to give loans to industries like us, which are contributing to society, labour, government, taxes, and what not. What is wrong with us that the bank does not even bother to reply.

 

Please let us have your help in the matter at your earliest and oblige.

 

Thanks & Best Regards,

Prabhu Dayal Agarwal

 

“Bigapple Arcade”, 1-8-167 to 179, S.D.Road, Secunderabad – 500003. INDIA Ph: 040 – 2789 9222 Mob & Whats App: 939 2727 939 Fax: 040 – 2789 6969 E: pda@bigapple.in Web: www.bigapple.in

 

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From: Prabhu Agarwal [mailto:pda@bigapple.in]
Sent: Monday, March 11, 2019 6:14 PM
To: ‘comml_secbad@sbi.co.in’ <comml_secbad@sbi.co.in>; ‘agmsmegm1.lhohyd@sbi.co.in’ <agmsmegm1.lhohyd@sbi.co.in>; ‘pawan.kumar51@sbi.co.in’ <pawan.kumar51@sbi.co.in>; ‘Sbi.20828@sbi.co.in’ <Sbi.20828@sbi.co.in>; ‘sbi.21495@sbi.co.in’ <sbi.21495@sbi.co.in>; ‘sbi.21495@sbi.co.in’ <sbi.21495@sbi.co.in>
Cc: ‘support@psbloansin59minutes.com’ <support@psbloansin59minutes.com>; ‘newdelhi@sidbi.in’ <newdelhi@sidbi.in>; ‘Ahmednagar@sidbi.in’ <Ahmednagar@sidbi.in>; ‘balanagar@sidbi.in’ <balanagar@sidbi.in>; ‘mission-dfs@nic.in’ <mission-dfs@nic.in>
Subject: RE: In-Principal Approval Letter Business Loan

 

Dear Mr. Sukumar,

 

Would appreciate your response in the matter.

 

Thanks & Best Regards,

Prabhu Dayal Agarwal

 

“Bigapple Arcade”, 1-8-167 to 179, S.D.Road, Secunderabad – 500003. INDIA Ph: 040 – 2789 9222 Mob & Whats App: 939 2727 939 Fax: 040 – 2789 6969 E: pda@bigapple.in Web: www.bigapple.in

 

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From: Prabhu Agarwal [mailto:pda@bigapple.in]
Sent: Saturday, March 9, 2019 3:07 PM
To: ‘comml_secbad@sbi.co.in’ <comml_secbad@sbi.co.in>; ‘agmsmegm1.lhohyd@sbi.co.in’ <agmsmegm1.lhohyd@sbi.co.in>; ‘pawan.kumar51@sbi.co.in’ <pawan.kumar51@sbi.co.in>; ‘Sbi.20828@sbi.co.in’ <Sbi.20828@sbi.co.in>; ‘sbi.21495@sbi.co.in’ <sbi.21495@sbi.co.in>; ‘sbi.21495@sbi.co.in’ <sbi.21495@sbi.co.in>
Cc: ‘support@psbloansin59minutes.com’ <support@psbloansin59minutes.com>; ‘newdelhi@sidbi.in’ <newdelhi@sidbi.in>; ‘Ahmednagar@sidbi.in’ <Ahmednagar@sidbi.in>; ‘balanagar@sidbi.in’ <balanagar@sidbi.in>; ‘mission-dfs@nic.in’ <mission-dfs@nic.in>
Subject: RE: In-Principal Approval Letter Business Loan

 

Kind attention : Mr. Sukumar – 95501 00550

 

As guided in the personal visit to SBI, the mail is once again forwarded on the same email address i.e. sbi.21495@sbi.co.in with attention of Mr. Sukumar.

 

May we request you to please read the mail from bottom and oblige.

 

Thanks & Best Regards,

Prabhu Dayal Agarwal

 

“Bigapple Arcade”, 1-8-167 to 179, S.D.Road, Secunderabad – 500003. INDIA Ph: 040 – 2789 9222 Mob & Whats App: 939 2727 939 Fax: 040 – 2789 6969 E: pda@bigapple.in Web: www.bigapple.in

 

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From: Prabhu Agarwal [mailto:pda@bigapple.in]
Sent: Tuesday, March 5, 2019 5:08 PM
To: ‘comml_secbad@sbi.co.in’ <comml_secbad@sbi.co.in>; ‘agmsmegm1.lhohyd@sbi.co.in’ <agmsmegm1.lhohyd@sbi.co.in>; ‘pawan.kumar51@sbi.co.in’ <pawan.kumar51@sbi.co.in>; ‘Sbi.20828@sbi.co.in’ <Sbi.20828@sbi.co.in>; ‘sbi.21495@sbi.co.in’ <sbi.21495@sbi.co.in>
Cc: ‘support@psbloansin59minutes.com’ <support@psbloansin59minutes.com>; ‘newdelhi@sidbi.in’ <newdelhi@sidbi.in>; ‘Ahmednagar@sidbi.in’ <Ahmednagar@sidbi.in>; ‘balanagar@sidbi.in’ <balanagar@sidbi.in>; ‘mission-dfs@nic.in’ <mission-dfs@nic.in>
Subject: RE: In-Principal Approval Letter Business Loan

 

 

 

From: Prabhu Agarwal [mailto:pda@bigapple.in]
Sent: Saturday, March 2, 2019 4:15 PM
To: ‘comml_secbad@sbi.co.in’ <comml_secbad@sbi.co.in>; ‘agmsmegm1.lhohyd@sbi.co.in’ <agmsmegm1.lhohyd@sbi.co.in>; ‘pawan.kumar51@sbi.co.in’ <pawan.kumar51@sbi.co.in>; ‘Sbi.20828@sbi.co.in’ <Sbi.20828@sbi.co.in>; ‘sbi.21495@sbi.co.in’ <sbi.21495@sbi.co.in>
Cc: ‘support@psbloansin59minutes.com’ <support@psbloansin59minutes.com>; ‘newdelhi@sidbi.in’ <newdelhi@sidbi.in>; ‘Ahmednagar@sidbi.in’ <Ahmednagar@sidbi.in>; ‘balanagar@sidbi.in’ <balanagar@sidbi.in>; ‘mission-dfs@nic.in’ <mission-dfs@nic.in>
Subject: RE: In-Principal Approval Letter Business Loan

 

M/s. SIDBI (SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA)

Telephone Number   –   079-41055999

Mail ID                      –   support@psbloansin59minutes.com

New Delhi                      –   011-23448300, Mail ID – newdelhi@sidbi.in

Ahmednagar                  –   0241-2426066, Mail ID – Ahmednagar@sidbi.in

Balanagar,Hyderabad    –   040-23770295, Mail ID – balanagar@sidbi.in

 

Department of Financial Services,

Government of India.

New Delhi

Stand up India Scheme  –  011-23344462

Stand up India Mission   –  011-23361571

Mail ID                            –   mission-dfs@nic.in

 

Dear authorities in SIDBI / Department of Financial Services,

 

You had come out with a scheme, said 59 minutes approval, we went on the website, gave all the details, paid the money and SBI approved. However, after that, we keep writing and there is no response, not even a formal reply and that too after addressing to 4 officers in the bank and copy of the same is given below for your ready reference.

 

We are manufacturers of LED lights on latest state of art SMT line and assembly line in heart of city of Hyderabad. It is a promising and very fast growing business and we thought at least after your scheme, companies like us would get some support, may be minor, but some. Unfortunately, even that is not coming and same attitude continues. Please find our performance details

 

S.No.	B/E.No. & Date Imports	IGST Paid	Month of Sales	Sale Value	SGST	CGST	IGST
1	7994089/10.09.18(LED)	505712	September,2018	5961842	159920	159920	397886
2	18510/26.09.18(Air-PCBs/Ics)	2141	October,2018	5381804	78833	78833	421770
3	13746/20.09.18(Air-LEDs)	14036	November,2018	3345309	61462	61462	285303
4	8341126/05.10.18(LED Chips,PCBs)	49371	December,2018	4052295	65788	65788	355789
5	8340832/05.10.18(LED)	915498
6	8947413/21.11.18(LED)	856051
7	13916/09.01.19(Air-Signal Card)	1811
8	9708467/19.01.19(LED)	605687
9	9708897/19.01.19(Trolleys)	191929
	Total :	3142236		18741250	366003	366003	1460748

 

You could see in last 5 months i.e. from September to January 2019, we have paid a GST of 31,42,236/- and for a loan of Rs. 65 Lakhs which was approved online, has not been taken up in spite of repeated requests which could be assessed from the mails below. A company with such huge turn over, promising business, promoted by government of India, is struggling to get bank advance which is not even equal to the GST paid, is not proper. Please tell us why banks are doing like this? Why they don’t want to give loans to industries like us, which are contributing to society, labour, government, taxes, and what not. What is wrong with us that the bank does not even bother to reply.

 

Please let us have your help in the matter at your earliest and oblige.

 

Thanks & Best Regards,

Prabhu Dayal Agarwal

 

“Bigapple Arcade”, 1-8-167 to 179, S.D.Road, Secunderabad – 500003. INDIA Ph: 040 – 2789 9222 Mob & Whats App: 939 2727 939 Fax: 040 – 2789 6969 E: pda@bigapple.in Web: www.bigapple.in

 

Reach us on:

 

From: Prabhu Agarwal [mailto:pda@bigapple.in]
Sent: Wednesday, February 27, 2019 3:37 PM
To: ‘comml_secbad@sbi.co.in’ <comml_secbad@sbi.co.in>; ‘agmsmegm1.lhohyd@sbi.co.in’ <agmsmegm1.lhohyd@sbi.co.in>; ‘pawan.kumar51@sbi.co.in’ <pawan.kumar51@sbi.co.in>; ‘Sbi.20828@sbi.co.in’ <Sbi.20828@sbi.co.in>; ‘sbi.21495@sbi.co.in’ <sbi.21495@sbi.co.in>
Subject: RE: In-Principal Approval Letter Business Loan

 

Would appreciate your reply.

 

Thanks & Best Regards,

Prabhu Dayal Agarwal

 

“Bigapple Arcade”, 1-8-167 to 179, S.D.Road, Secunderabad – 500003. INDIA Ph: 040 – 2789 9222 Mob & Whats App: 939 2727 939 Fax: 040 – 2789 6969 E: pda@bigapple.in Web: www.bigapple.in

 

Reach us on:

 

 

 

 

 

From: Prabhu Agarwal [mailto:pda@bigapple.in]
Sent: Friday, February 22, 2019 5:57 PM
To: ‘comml_secbad@sbi.co.in’ <comml_secbad@sbi.co.in>; ‘agmsmegm1.lhohyd@sbi.co.in’ <agmsmegm1.lhohyd@sbi.co.in>; ‘pawan.kumar51@sbi.co.in’ <pawan.kumar51@sbi.co.in>; ‘Sbi.20828@sbi.co.in’ <Sbi.20828@sbi.co.in>; ‘sbi.21495@sbi.co.in’ <sbi.21495@sbi.co.in>
Subject: RE: In-Principal Approval Letter Business Loan

 

Would appreciate your response in the matter. Please do needful and oblige.

 

Thanks & Best Regards,

Prabhu Dayal Agarwal

 

“Bigapple Arcade”, 1-8-167 to 179, S.D.Road, Secunderabad – 500003. INDIA Ph: 040 – 2789 9222 Mob & Whats App: 939 2727 939 Fax: 040 – 2789 6969 E: pda@bigapple.in Web: www.bigapple.in

 

Reach us on:

 

 

 

 

 

From: Prabhu Agarwal [mailto:pda@bigapple.in]
Sent: Wednesday, February 20, 2019 6:31 PM
To: ‘comml_secbad@sbi.co.in’ <comml_secbad@sbi.co.in>; ‘agmsmegm1.lhohyd@sbi.co.in’ <agmsmegm1.lhohyd@sbi.co.in>; ‘pawan.kumar51@sbi.co.in’ <pawan.kumar51@sbi.co.in>; ‘Sbi.20828@sbi.co.in’ <Sbi.20828@sbi.co.in>; ‘sbi.21495@sbi.co.in’ <sbi.21495@sbi.co.in>
Subject: RE: In-Principal Approval Letter Business Loan

 

Mr. P. Sasank, Chief Manager,

M/s. State Bank Of India.,

Ph: 040 2714 4018 / 2714 4019

Fax : 0404 2714 4017

Mob: 95732 37864

Email: sbi.21495@sbi.co.in

 

Mr. G.SURYAPRAKASH RAO.
Asst.General Manger

State Bank of India

Hyderabad

Mob: 9959573300

 

Mr. Pawan Kumar,

Relationship Manager (Medium Enterprises),

M/s. State Bank Of India.,

Ph: 040 2772 0813 / 2781 2128

Mobile : 88600 58844

Email : pawan.kumar51@sbi.co.in

Sbi.20828@sbi.co.in

 

Dear Sirs,

 

With reference to the below mentioned approval, we wish to inform you that we have no property to offer as collateral and would appreciate your sanction as per the policy of giving loan without collateral. We also invite you to visit our office and factory and check things yourselves.

 

A reply in the matter would be highly appreciated.

 

Thanks & Best Regards,

Prabhu Dayal Agarwal

 

“Bigapple Arcade”, 1-8-167 to 179, S.D.Road, Secunderabad – 500003. INDIA Ph: 040 – 2789 9222 Mob & Whats App: 939 2727 939 Fax: 040 – 2789 6969 E: pda@bigapple.in Web: www.bigapple.in

 

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From: Ankit Agarwal [mailto:ankit@bigapple.in]
Sent: Wednesday, February 20, 2019 3:37 PM
To: ‘Prabhu Agarwal’ <pda@bigapple.in>
Subject: FW: In-Principal Approval Letter Business Loan

 

 

 

Thanks & best regards,

Ankit Agarwal

 

Reach us on:

 

 

From: Ankit Agarwal [mailto:ankit@bigapple.in]
Sent: Wednesday, February 20, 2019 2:51 PM
To: Ankit Agarwal <ankit@bigapple.in>
Subject: Fwd: In-Principal Approval Letter Business Loan

 

 

 

———- Forwarded message ———
From: <no-reply@psbloansin59minutes.com>
Date: Tue, Nov 13, 2018 at 5:43 PM
Subject: In-Principal Approval Letter Business Loan
To: <ankit@bigapple.in>
Cc: <comml_secbad@sbi.co.in>

 

CW-AWC-29664   13-11-2018 To BIGAPPLE LIFESTYLE PRIVATE LIMITED, We are pleased to inform that we are agreeable in-principle to provide a loan of Rs. 6,018,020 /- to you, subject to satisfactory submission of various documents etc. by you and satisfactory Due Diligence and other Reports as per requirements of the Bank.   Product   Working Capital – 1 Year ITR new e-smart score24102018 Loan Amount   Rs.6,018,020 Interest rate   9.75% ** Loan Tenure   Renewable Annually EMI Rs.   NA Processing Fees   @0.35% of loan amount plus applicable GST   Branch Details Branch Name : COMMERCIAL BR SECUNDERABAD Branch Code : 20828 IFSC Code : SBIN020828   Address : , BLOCK NO :11-16-20,SURYA TOWERS,S P ROADSECUNDARABAD, , Telangana, Hyderabad, 500003 Contact Number : –   The Bank or our Due diligence agency representative will contact you soon for further proceedings. Now all you need to do is to keep the below mentioned documents ready in original along with a copy of this letter for swift proceedings and processing. These documents/papers/enclosures (copies and originals) will be required for appraisal and processing of loan. (*Applicant will also be liable to bear the actual expenses pertaining to Stamp duty, Registration Charges, Government & Other charges and taxes as and when applicable. In addition to this, Legal fee, Valuation and Other actual costs pertaining to the processing of loan will be borne by the applicant.) (**For sanctions above Rs. 50 Lacs, rate of interest will depend upon Internal Credit Rating of the bank.) Indicative List of Documents: i. Annual Report (Latest 3 Years) (Audited if applicable) ii. ITR (Latest 3 Years) iii. Bank Statement Copy (Last 6 Months) iv. Sanction Letter Copy (If Any, previous loans availed from any bank) v. Provisional /estimated /Projected Financials for current /future years vi. Net Worth Statements of Directors /Partners /Proprietor vii. Financials (Balance sheet and Profit & Loss statements) of the unit /Holding /Subsidiary /Associate (If Applicable) viii. Sales tax/Income Tax Assessment orders for the last three years, for the unit as well as Proprietor /Partners /Promoters /Directors as applicable ix. Memorandum of Association and Article of Association (If Applicable) x. Certificate of Incorporation (If Applicable) xi. Copy of PAN Card xii. PAN card of all the promoters/Directors/Partners/Proprietor xiii. Residence Address Proof of all Directors/Partners/Proprietor xiv. Colour photographs of all Directors/Partners/Proprietor xv. Copy of Udyog Aadhar Number (registered on udyogaadhar.gov.in) xvi. MSME Registration Number & Certificate The document requirements mentioned above are indicative and Bank reserves the right to call upon additional documents at its discretion based on credit, risk, compliance, loan and other applicable policies/guidelines of the Bank. NOTE: In Case of Limits approved for below Rs. 10 Lacs, Bank shall consider total limit of borrower to be considered & taken up, thereby making the total limit of Bank be minimum INR 10 Lacs. Disclaimer: The in-principle approval for loan is subject to correctness of information provided by you, its successful verification and satisfactory completion of detailed due diligence as per Bank norms and requirements. This letter shall stand unilaterally revoked and cancelled by us and shall be absolutely null and void, if there are any material changes in the information you have provided based on which the said loan is in-principally approved by the Bank. Please note that availability of Loan/Finance shall be at sole discretion of the Bank. psbloansin59minutes.com merely acts as online Platform for availing Loan from Bank and does not guarantee any loan on itself as well as on behalf of the Bank. There will be no liability of the Platform with respect to the Products rolled out by any Bank on the Platform.

 

—

Thanks & best regards,

Ankit Agarwal

 

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