LIC Housing Loan from Mumbai
Not returning FD given as a Collateral securities

I, Mr Ketan D Kumbhare have taken a home loan from LIC Housing and deposited a Collateral securities. From the following evidences it will be clear to you that how LIC Housing is avoiding to return my collateral Securities which they are holding illegally with them.

At the time of disbursal of loan in year as the matter of MHADA Lottery was pending with High Court, on request of LIC Housing I have given a Collateral Securities of my father’s Fixed Deposit worth Rs. 8 Lacs. LIC Housing have also informed me that the said Collateral Securities will be return on submission of Original Allotment letter & Original Possession letter issued be MHADA Authority.

On 07/01 I have submitted original Allotment and Possession Letter to LIC Housing. In said Letter I had requested to return the Collateral Securities as per their earlier verbal commitment but they have shown their inability to return the Collateral Securities as they were unaware about the result of Public Interest Litigation filed with the High Court.

Again on 21/05 I have gave them 2nd reminder letter along with Judgement copy passed in Hon’ble High Court Judge F . I . Rebello & R . v. More on dated 16th June mentioning the Public Interest Litigation is dismissed. and again requested them to return the Collateral Securities but again they have shown their inability to return the Collateral Securities and ask me to produce the Judgement of Supreme Court.

On 05/06 I have submitted to LIC Housing a letter issued by Hon’ble Chairman Sahakar Nagar Cosmo Plaza CHS mentioning that their charge on subject flat have been created by the society and society has also undertaken to issue and send share certificate directly to them.

On 27th August I have again submitted my 3rd request letter along with DNA News paper-cutting mentioning the judgement of Hon’ble Supreme Court that Hon’ble Supreme Court had refused to pass an interim order staying the allotment of 3863 tenements.

From the above everments you will find that I have many times requested to LIC Housing to return the Collateral Securities i.e. Fix Deposit Receipts of my Father Shri Dattatray N.Kumbhare for Rs. 8 Lacs. But every time they have failed, neglected and avoided to return the Collateral Securities for the reason best known to them even after I have fulfilled their every requirements. A Collateral Securities which they have hold illegally with them have never demanded by them at any stage of Sanctioning the Housing Loan to me. Neither they have gave me any letter regarding demanding or holding of Collateral Securities against the said loan nor they have mentioned the condition of keeping Collateral Securities in their loan sanctioned letter dated 31/078 issued to me. For fast processing my father offered them the said Collateral Securities for temporary period and same was agreed by them verbally.

The same letter I have forwarded to LIC Housing Regional Manager Mumbai, But they haven't taken any action against it.

Kindly help me in the above matter.

Ketan D Kumbhare

email: ketan.kumbhare@gmail.com

Kindly Suggest me where

Company: LIC Housing Loan from Mumbai
Country: India
State: Maharashtra
City: Mumbai City

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