LIC Housing Finance — Home Loan disbursement pending for 4 years and 4 months

Address:	122011
Website:	ferrousinfrastructure.com

This is regarding the loan Ac #[protected] on which there was a demand of Rs 370000(approx) raised by the builder(Ferrous Infrastruture Pvt Ltd.) in the month of September '2011 for my flat in Sec-89, Faridabad. The demand letter was sent to me and the carbon copy of the same was sent to LICHFL as well. I contacted my agent Mr. Jaiswal who asked me to contact Chandan(LICHFL employee at Kaushambi office) to get the payment released. On this Chandan asked me to send an authorization email and also a signed copy of a few documents, which I eventually did in the first week of October. Since then I kept chasing Chandan & Jaiswal however did not find any solution. In the month of December I had to go out country for a project before which I visited LICHFL Kaushambi office and had a word with Mr. Pandey and was assured that the payment will be released in a weeks time. I came back after a week and checked with Chandan again on which I was told that all the formalities are done and within 3 days the payment will be made. After this I had to go to Bangalore for some official work however as I was assured by the branch manager that the payment would be made I thought it will be taken care of this time for sure. However to my surprise when I came back in the month of April I was told by my builder that the payment is still pending and they are charging me 24% interest as penalty on the outstanding payment. On this when I checked with Chandan and Jaiswal they had no idea and they wanted me to visit the office and meet Mr. Pandey again. When I visited the LICHFL office Mr. Pandey was not present and I was asked to visit the office again. When I tried calling back I was told that there is someone at LICHFL who does the patch work(I don't know what that is) has left the job and there is no replacement for him because of which the payment is not getting released. Post this I sent an email to RO north and even visited his office at Sansad Marg, where I was told that it will be taken care of on priority. However after that I am chasing and writing emails to them every now and then however not getting any reply. I am currently posted in Mumbai since 2013 and visit LICHFL's office whenever I visit Delhi, however every time I am given some or the other excuse. This according to me is not only highly unprofessional service but also the harassment to the customer. I even wrote several emails to RM north and have not received any response on the same. I am totally fed up with LICHFL at this point and would like to take this case to the consumer court now as they are not making the payment and the builder is charging me an interest of 24% on outstanding payment. However before I initiate any legal proceedings, I thought of taking this route once if things can be settled outside.