[Resolved]  Oriental Bank Of Commerce, Shalimar Chowk, Nasik — Reguarding my LIC policy no[protected] &[protected].

Sir. I Ajaz Shaikh Lateef.Ihad given my LIC policy No.[protected] and[protected]. as a security to Oriental Bank of commerce, Shalimar chowk Nasik, for the loan which they had given to M/s Superb Auto Electric Works, Opp Manohar Market, 532, Poona Rd, Nasik. A/c no 127 current A/c, Prop Mr.M.A.Lateef for the purchase of Battery Plate Machinery. But after the death of Mr.Lateef. The said loan was transfered by Oriental Bank Of Commerce, in the name of Superb Auto Batteries, Opp Manohar Market, 532 Poona Rd, Nasik. A/c no. unknown, Mr Altaf Shaikh Lateef without intimating me and without my consent. after the said fact came to my knowledge, I approched the bank manager, the bank manager refused to talk to me thereafter a letter in writing was given to bank regarding the said unlawful transfer of loan.I requested the bank asking the borrower to arrange for another guarantor/security and return my policy back, as I had objection to the same because it was done with out my consent. as I had given my policy as security to Superb auto electric works proprietor Mr. M.A.Lateef but not to Superb Auto Batteries, prop
Mr.Altaf Shaikh.Also at the time of loan proposal, I had signed as a guarantor to Superb Auto Electric Works, but the bank has Misused the said signature and had used it for Superb Auto Batteries with out informing me. one point to be noted is that the loan was against machinery in the name of Superb Auto Electric Works, which was mortgaged with the bank and for additional security purpose the policy was given to bank, but the machinery still lies in the custody of the borrower and I am of the knowledge and opinion that bank has surrendered my policy .On 07.08.08, I once again approached the bank for getting the details about the same but the bank refused to provide me the details and said that the matter is now closed and no details can be provided anymore.That both the Bank and Borrower and has misused my policy, hence this being my complaint, my request is that the bank should Furnish me with the details of the same and should give the reason as to why at the time of the transfer of loan to another firm I was not informed and also at the time of the transfer of the afforesaid surrender of my policy. as also why the bank authorities did not bother to take my consent for the same . I also request to inquire as to why the machinery still lies in the custody of borrower.the bank along with the borrower has committed illegal and unlawful acts and have done a fraud with me .so please look into the matter at the earliest. Thanks. aijaz.