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In case a successful applicant(TATA NANO) has,in the meanwhile,changed his mind what happens to the amount deposited with TATA MOTORS? Will the amount refunded in full or forefeited partly or wholly?
By H K TEWARI 06 June 2009
Expert`s comment:

If booked through loan then Rs 3500 will not be refunded.If booked in cash,in case of non-allotment full refund will come.In case of allotment refund may come with deducation of admin fees.

Answer by Shiva Shankar 06 June 2009

Even I had got the allotment and I had paid cash through the bank.The bank people say it wont get refunded and said it a booking amount and Tata Nano people will not refund it.

Answer by Sheetal 07 July 2009

The answer given by SHIVA appears to be incorrect. In case of cancellation within 30 days from the date of allotment no administration charges to be deducted. The admin charges already covered by retaining interest free funds for 3 months(approx.).In case funds raised from Bank some money will be deducted.
As regards Sheetal's point she/he may talk to Tata Nano Call Centre by checking telephone No. from and find out the procedure.It may not be correct to suggest that money may not be refunded. The only deduction may be interest payable to the Bank.

Answer by HKTewari 07 July 2009
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