Union Bank Of India — Complaint against Officials of erstwhile Andhra Bank, Kapra Sainikpuri branch ,Hyderabad

Address: MUMBAI

I lodged complaint with the Chief Vigilance Officer of the bank for gross negligence, flouting of norms and standard banking guidelines by 5 officials of erstwhile Andhra Bank in 2018 before it got merged with the Union Bank. Right from sanction of term loan to disbursement of loan amount for up-gradation of an existing hospital, the said officials violated guidelines leading to misappropriation of loan amount from term loan as well as Overdraft account. Only after sudden death of husband of the Partner cum co-promoter of the firm, all these procedural lapses by bank officials came to light. My family offered vacant plot/s of lands as collateral and stood as surety. Without commencement of operations, more than INR 2 crs was disbursed to unrelated entities including chit fund companies, without verification /inspection for for physical delivery of hospital equipment and other items. Finally after 4 yrs of continuous follow up and lot of correspondence with the Vigilance department, bank came forward to settle the matter, but with a precondition that, all complaints lodged by us against their errant Officials for their involvement in gross procedural lapses as surety must be withdrawn. Due to extreme pressure and coercive manipulations by the bank officials and their legal officers, we had to withdraw our complaints and we paid all dues to the bank by August, 2023. But even after months, bank officials are deliberately delaying to issue NOCs for releasing MOTD(memorandum of title deeds), because we lodged fresh complaint with the DFS, ie. Dept of Financial Services for not maintaining confidentiality and failure of the bank in taking suitable action on the errant officials of the bank and using all coercive methods in forcing us to withdraw our complaint to protect their officials.