My Brother Mr. Shyam Sundar Seshadri and myself Satish Seshadri had
approached IDBI Homefinance and applied for a home loan during
August 2nd Week wide the Case No: MUMDAD00006154.
Case in brief:
We had received the offer letter ref no: IHFL/ MUMDAD6154/1 dated
27/08 on 7th September.
Meanwhile we had arranged for the Registration on 25th August and
submitted all the documents required on the very same day i.e 07
September.
The seller of our Property had taken a Loan from ICICI which was closed
recently before submitting the papers to your office.
During the closure of the above mentioned loan, they missed out the
supplementary document (Registration Receipt) of the earlier agreement. As
they had misplaced the document, our seller Mr. Rajan sent a notice for
the same to the company through his property lawyer on the same. The
company denies of holding the said recipt.
Hence to save time fighting the matter out in court with ICICI, he
arranged for an Affidavit and submitted the true copy of the receipt which
has been legally honored at the court. Supporting to this he also arranged
for the declaration that the receipt was misplaced by him, lodged an FIR,
made an Advertisement (as advised by IDBI Dadar branch post over 2 months
of the loan application due to their delay).
The documents were processed only during the end of September by the
Officer at Dadar Branch, as she was on leave / other reasons (of festive
season etc.). And after over 2 months they say that the loan cannot be
processed as a supplementary / supporting receipt is missing. (Main Legal
document i.e agreement copy is still available in original with IDBI).
The Legal Search, Technical Search etc are all clear in regards to the
case, as informed by the Dadar Branch.
Since only a supporting supplementary receipt is missing for which the
formality of FIR, an Indemnity bond etc have been completed, the documents
shall be given an approval.
Logic to the case:
The registration receipt of the agreement between the ex Seller to the current Seller is missing.
1) If the receipt was missing before the Loan was disbursed from ICICI, then ICICI would not have disbursed the loan, which is not the case as the loan was closed just over a month. Even the documents of Legal notice etc support the same.
2) If ICICI has disbursed the loan, it implicates that the receipt is just supplementary document and the main legal document which is the Agreement copy is still in place.
In any case the process should have been expedited or IDBI shall bear all expenses with respect to the losses to be borne by me owing to the cancellation of the deal.
3) Since IDBI is into a professional business catering to the public, there should not be delay in the processing of the document due to the absence of a concerned officer for a long time (3 weeks in this case).
Request for sanction of the above case within a day.
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