[Resolved]  DM Consultant & Co / LIC Housing Finance — SALE OF LIC INSURANCE PRODUCTS IN THE NAME OF LOAN FROM LIC HOUSING FINANCE

Dear Sir,

1. I would like to bring to your kind notice of an instance which is an absolute contradiction to "Fair Practice Code" by agents OF LIC HOUSING FINANCE. The details are as follows:-

2. Having got a lucrative offer from Mr Sumit/Abhay (D.M. Consultants & Company, 1028/15, Tilak Bazar, Ist Floor, Chandni Chowk, Delhi - 110006, Mobile Numbers - [protected], [protected] & Land line No[protected] I got duped by the false statements. I had applied to LIC Housing Finance for a loan of Rs 5 Lac in first week of Dec 2009 with a promise of hassle free loan by said representative. I had categorically asked the person if my papers do not fulfill I will never opt of LIC Policy/process charges but Mr Sumit had assured me that my cheques will only be presented if your loan is sanctioned.

3. At very early stage of this process, Mr Sumit/Abhay were callingn me twice a day for documents/cheques despite of my reluctance/low interest in the process due to number of hassles involved in such cases. I owe a house with a value of almost more than 30 Lacs (Loan applied just for 5 Lacs to save taxes in future). After a number of calls from above representatives, they earned my faith and I handover them all documents/2 cheques on a very good failth. One of the cheque amounting to Rs 7210/- has already been deducted from my account on 22 Dec 2009. It seems to be a good technique of selling the LIC products. Another cheque of Rs 1103/- is also with them which they can produce any time to be deducted to my account and I am still bereft of clear cut picture of my loan status. I work on nets more than 12 hours a day and hence know all pros & cons of investments. I already have sufficient pure term insurance and prefer to invest in equities/mutual funds and not in LIC policies.

3. Despite of my reiterative calls to Mr Amit since last week, he is not giving due response on my calls. It has now become my prerogative to take such an action which deemed fit. I have no intention of defaming the concerned company but to bring false promise/offers by the representative in light of your Company and other concerned.

4. Hence you are requested to take action to get my whole amount refunded at the earliest possible otherwise I will have no option but to take legal action accordingly.

5. Such agents will surely harm the good credibility of company like LIC HOUSING FINANCE and is not good for long practice. Hope you will understand the nuances of the case and will take an action which deemed fit to settle the case.

With warm regards,

Sanjeev
[protected]