I have also faced similar problem with ICICI HFC. I was sanctioned a loan of 15 Lakh and got 3, 5 lakhs disbursed for purchase of land. But before starting the construction I had to leave on a onsite assignment and made arrangements for downsizing the loan to 3.5 lakhs and start the EMI.
I have submitted all the relevent documents required for downsizing the loan to the ICICI executive. This include all my original documents and post dated cheques for 24 months as requested.
Checking after 6 months found that the Pre EMI ws still on. On enquiring the ICICI executives over phone ( Spent more than 50 GBP on ISD calls ) was assured that the EMI will start SOOON. When this didnot happen after couple of months called up the corporate office im Mumbai, only to be told that the documents have been lost and requested to provide a fresh set of Post dated cheques
Sent the details as requested by post in Jan 2005 and kept following it up with the Adyar branch of ICICI HFC collection centre
I was promised that the processing is on for a backdated starting of the EMI and it will start soon.
After much delay the EMI could start from July 2005
To my astonishment I ended up paying pre EMI for 18 months and my EMI has started in Jul 2005 after much trouble