This is regarding the issue of settlement letter for a CV loan foreclosed. As the vehicle was set on fire during a mob in a engeneering college it had dues on its loan a/c in HDFC bank ltd even after depositing the whole amount the bank have'nt issued the settlement letter stating the receiving of payments resulting the suspension of claim by the insurance company due to the delays made by the bank and it has been a very clever and planned move against the borrower. The borrower is the ultimate sufferer as the amount paid was not earned by that vehicle as it was a total loss case and on the other hand the IDV covered was below the market price in all the bank officials had harresed the borrowr to get the settlement receiving in full after depositing the amount.
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