Ombudsman Scheme

Serving customer needs satisfactorily is a top corporate priority for APAC Financial Services Private Limited (“APAC” or the “Company”). An important component of this priority is designing an efficient mechanism to provide for redressal of complaints against deficiency in services concerning loans and advances and other specified matters. With this objective, APAC has developed this Ombudsman Scheme (“Scheme”) for the Company’s customers.
The key guiding principles of the Company’s Scheme shall be:

Any person may file a complaint with the Ombudsman having jurisdiction, on any one of the following grounds of complaint alleging deficiency in services:

a) non-presentation or inordinate delay in the presentation of post-dated cheques provided by the customer;
b) failure to convey in writing, the amount of loan sanctioned along with terms and conditions including annualised rate of interest and method of application thereof;
c) failure or refusal to provide sanction letter/ terms and conditions of sanction in vernacular language or a language as understood by the borrower;
d) failure or refusal to provide adequate notice on proposed changes being made in sanctioned terms and conditions in vernacular language as understood by the borrower;
e) failure or inordinate delay in releasing the securities documents to the borrower on repayment of all dues;
f) levying of charges without adequate prior notice to the borrower/ customer;
g) failure to provide legally enforceable built-in repossession clause in the contract/ loan agreement;
h) failure to ensure transparency in the contract/ loan agreement regarding:

i. notice period before taking possession of security;
ii. circumstances under which the notice period can be waived;
iii. the procedure for taking possession of the security;
iv. a provision regarding final chance to be given to the borrower for repayment of loan before the sale/ auction of the security;
v. the procedure for giving repossession to the borrower and
vi. the procedure for sale/ auction of the security

i) non-observance of directions issued by Reserve Bank to the non-banking financial companies;
j) non-adherence to any of the other provisions of Reserve Bank Guidelines on Fair Practices Code for Non-Banking Financial Companies.

2) The Ombudsman may also deal with such other matter as may be specified by the Reserve Bank from time to time in this behalf.
The company shall follow the process as mentioned in “The Ombudsman Scheme for Non- Banking Financial Companies, 2018” Ref. CEPD.PRS.No.3590/13.01.004/2017-18 dated February 23, 2018 or as updated by RBI from time to time.

1) Any person who has a grievance against APAC on any one or more of the grounds of complaints mentioned in ‘Grounds of Complaints’ may, himself or through his authorised representative (other than an Advocate), make a complaint to the Ombudsman within whose jurisdiction the Branch/ Registered Office of APAC, is located.

(a) The complaint, when in writing, shall be duly signed by the complainant or his authorized representative and shall be, as far as possible, in the form specified in ‘Annex II’ or as near as thereto as circumstances admit, stating clearly:

i) the name and address of the complainant;
ii) the name and address of the branch or registered office of APAC against which the complaint is made;
iii) the facts giving rise to the complaint;
iv) the nature and extent of the loss caused to the complainant; and
v) the relief sought for.

(b) A complaint made through electronic means shall also be accepted by the Ombudsman and a print out of such complaint shall be taken on the record of the Ombudsman.

(c) The Ombudsman shall also entertain complaints covered by this Scheme received by the Central Government or Reserve Bank or other financial regulators and forwarded to him for disposal.
As highlighted in the RBI scheme, the Ombudsman shall not entertain a complaint unless:

a) the complainant, before making a complaint to the Ombudsman, had made a written representation to APAC and APAC had rejected the complaint or the complainant had not received any reply within a period of one month after APAC received his representation or the complainant is not satisfied with the reply given to him by APAC;
b) the complaint is made not later than one year after the complainant has received the reply of APAC to his representation or, where no reply is received, not later than one year and one month after the date of the representation to APAC;
c) the complaint is not in respect of the same cause of action which was settled or dealt with on merits by the Ombudsman in any previous proceedings whether or not received from the same complainant or along with one or more complainants or one or more of the parties concerned with the cause of action;
d) the complaint does not pertain to the same cause of action, for which any proceedings before any court, tribunal or arbitrator or any other forum is pending or a decree or Award or order has been passed by any such court, tribunal, arbitrator or forum;
e) the complaint is not frivolous or vexatious in nature;
f) the complaint is made before the expiry of the period of limitation prescribed under the Indian Limitation Act, 1963 for such claims; and
g) the complainant has filed along with the complaint, copies of the documents, if any, which he intends to rely upon, and a declaration that the complaint is maintainable under Clause 3-(a) referred above.
1) For the purpose of carrying out the duties under this Scheme, an Ombudsman may require APAC against whom the complaint is made, to provide any information or furnish certified copies of any document relating to the complaint which is or is alleged to be in its possession. Provided that in the event of failure of APAC to comply with the requisition without sufficient cause, the Ombudsman may, if he deems fit, draw the inference that the information if provided or copies if furnished, would be unfavourable to APAC.

2) The Ombudsman shall maintain confidentiality of any information or document that may come into his knowledge or possession in the course of discharging his duties and shall not disclose such information or document to any person except with the consent of the person furnishing such information or document;

Provided that nothing in this Clause shall prevent the Ombudsman from disclosing information or document furnished by a party in a complaint to the other party or parties to the extent considered by him to be reasonably required to comply with any legal requirement or the principles of natural justice and fair play in the proceedings
APAC should follow the settlement process as mentioned in “The Ombudsman Scheme for Non- Banking Financial Companies, 2018” Ref. CEPD.PRS.No.3590/13.01.004/2017-18 dated February 23, 2018 or as updated by RBI from time to time and would submit written submissions on any complaint received through the Ombudsman and or attend any meeting called to arrive at an amicable resolution.
APAC shall, unless it has preferred an appeal under Sub-Clause (1) of Clause 14 of the “The Ombudsman Scheme for Non- Banking Financial Companies, 2018” Ref. CEPD.PRS.No.3590/13.01.004/2017-18 dated February 23, 2018 or as updated by RBI from time to time, within one month from the date of receipt by it of the acceptance in writing of the Award by the complainant under Sub-Clause (8), comply with the Award and intimate compliance to the complainant and the Ombudsman.
a) APAC if it is aggrieved by an Award may within 30 days of the date of receipt of communication of Award or rejection of complaint, prefer an appeal before the Appellate Authority; Provided further that appeal may be filed by APAC only with the previous sanction of the Chairman or the Managing Director/ Chief Executive Officer or any other officer of equal rank.

b) Implementation/ Enforcement of Award

It shall be the obligation of APAC to implement the settlement arrived with the complainant or the Award passed by the Ombudsman when it becomes final and send a report in this regard to the Reserve Bank within 15 days of the award becoming final. In the event of non-implementation of settlement or the Award, the complainant may represent to the Reserve Bank and the Reserve Bank may initiate such action under the provisions of Reserve Bank of India Act, 1934 as it deems fit.
1) APAC shall ensure that the purpose of the Scheme and the contact details of the Ombudsman to whom the complaints are to be made by the aggrieved party shall be displayed prominently in all the offices and branches, in such manner that a person visiting the office or branch has adequate information of the Scheme.

2) APAC shall ensure that a copy of the Scheme is available with the designated officer of the company for perusal in the office premises, if anyone desires to do so, and notice about the availability of the Scheme with such designated officer shall be displayed and shall place a copy of the Scheme on its website.
3) (i) APAC shall appoint Nodal Officers at their Head/ Registered/ Regional/ Zonal Offices and inform all the Offices of the Ombudsman about the same.

(ii) The Nodal Officer/s so appointed shall be responsible for representing APAC and furnishing information to the Ombudsman in respect of complaints filed against APAC.

For the purpose of this scheme, Mr. Anand Asawa is appointed as a nodal officer at the Registered Office / Head Office.

Mr: Anand Asawa
Company Secretary & Compliance Head
Address (Registered Office): First Floor, Ashford Centre,
Shankar Rao Naram Marg,
Lower Parel West,
Mumbai - 400 013,
Email id:
Landline No (91) 22-6749 9760.

The Nodal Officer can be contacted during office hours (9:30 a.m. to 5:30 p.m.) on any of the working days of the Company.

(ii) The Nodal Officer/s so appointed shall be responsible for representing APAC and furnishing information to the Ombudsman in respect of complaints filed against APAC.
The Board of the Company have power to effect any changes, amendments or modifications, if any, in the Ombudsman Scheme at periodic intervals.

Address and Area of Operation of NBFC Ombudsman

SN Centre Address of the Office of NBFC Ombudsman Area of Operation
1 Chennai C/o Reserve Bank of India
Fort Glacis,
Chennai 600 001
STD Code: 044
Telephone No: 25395964
Fax No: 25395488
Tamil Nadu, Andaman and Nicobar Islands, Karnataka, Andhra Pradesh, Telangana, Kerala, Union Territory of Lakshadweep and Union Territory of Puducherry
2 Mumbai C/o Reserve Bank of India
RBI Byculla Office Building
Opp. Mumbai Central Railway Station Byculla, Mumbai-400 008
STD Code: 022
Telephone No: 23028140
Fax No: 23022024
Maharashtra, Goa, Gujarat, Madhya Pradesh, Chhattisgarh, Union Territories of Dadra and Nagar Haveli, Daman and Diu
3 New Delhi C/o Reserve Bank of India
Sansad Marg
New Delhi -110001
STD Code: 011
Telephone No: 23724856
Fax No: 23725218-19
Delhi, Uttar Pradesh, Uttarakhand, Haryana, Punjab, Union Territory of Chandigarh Himachal Pradesh, and Rajasthan and State of Jammu and Kashmir
4 Kolkata C/o Reserve Bank of India
15, Netaji Subhash Road
Kolkata-700 001
STD Code: 033
Telephone No: 22304982
Fax No: 22305899
West Bengal, Sikkim, Odisha, Assam, Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, Tripura, Bihar and Jharkhand


Salient Feature