Indiabulls Went on Deducting Accounts Despite EMI Deferment

The well-known Indian financial group Indiabulls had been heavily complained by investors last week for unjustified loan deduction during the coronavirus pandemic. A week later, instead of being intervened by the government, the companys practice of “fishing in troubled water” has become even worse.

Why were investors accounts deducted after EMI moratorium？

Through investigation, WikiFX learned that many investors have already applied for EMI (Equated Monthly Installment) moratorium in early April, yet payments were still being automatically deducted from their accounts while they were bombarded with the companys texts.

Worried investors contacted the company for many times to find out why were their accounts deducted even after they requested for loan moratorium, but couldnt get a satisfactory explanation as the emails were never returned and the customer centre remained unavailable. It seemed as if the company had been hiding from clients.

Indiabulls customer service was unresponsive to customer complaints

Frustrated Indian middle class voiced their disappointment on social media

In a complaint against Indiabulls, a middle-class investor expressed his frustration and confusion, saying that no one cared about how the middle class is suffering from the recent financial crisis, and he couldnt understand why the government had not yet taken actions to tackle the issue despite massive similar complaints on social media.

Middle-class investor complained against Indiabulls after unjustified account deduction

What should investors do to recover losses？

If you are one of the victims of Indiabulls, you can send the transaction records, customer service communication records and other evidences to WikiFX Exposure Forum (click here to download: bit.ly/3ajawKO), or follow WikiFX's official Facebook page wikifx.IN to file complaints and defend your rights. WikiFX team will reply to you within 5 working days. For the safety of your funds, please raise your risk awareness and be careful during investment!

Investors expose Indiabulls on WikiFX

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