| Address: LIC Housing Finance Visakhapatnam Main Branch |
Respected Sir / Madam,
I wish to lodge a complaint regarding serious irregularities and fraudulent practices in connection with my LIC Housing Finance Loan bearing Reference No.[protected], sanctioned for an amount of Rs. 46, 00, 000.
At the time of processing and sanctioning my housing loan, two executives, Mr. Mahesh and Mr. Srinivas, collected Rs. 60, 000 from me as processing charges/fees. I paid the amount believing it was required for the loan process.
LIC Housing Finance initially released Rs. 37, 60, 000 to the builder, M/s Nalluri Projects Pvt. Ltd. I was informed that any further disbursement would be made only after obtaining my confirmation as the borrower. They informed that that is the rule without confirmation from the customer single amount was not released.
However, without my knowledge, consent, or written authorization, an additional amount of Rs. 2, 35, 000 was released. The builder withdrew the amount without informing me. When I questioned the builder regarding how the amount was released, he stated that Mr. Mahesh had released the amount and asked me to contact him.
When I contacted Mr. Mahesh regarding the unauthorized disbursement, he admitted that the amount had been released due to pressure from the builder and Mr. Srinivas, without obtaining my consent as the customer. Such action is a serious violation of customer authorization procedures and has caused me significant concern.
Further, Mr. Mahesh informed me that Mr. Srinivas, who had initially approached me for processing my housing loan, was an ex-employee of LIC Housing Finance. Despite no longer being employed by LIC Housing Finance, he continued to process my loan application and obtained all my personal and financial documents. This raises serious concerns about unauthorized access to customer information and possible collusion with serving employees of LIC Housing Finance, particularly Mr. Mahesh of the Visakhapatnam Main Branch.
The above facts indicate serious lapses in internal controls, unauthorized disbursement of loan funds, misuse of customer information, and possible collusion between the builder, an ex-employee, and a serving employee of LIC Housing Finance.
In view of the above, I request you to:
1. Conduct a thorough investigation into the unauthorized release of
Rs. 2, 35, 000.
2. Investigate the role of Mr. Mahesh, Mr. Srinivas
3. Verify the collection of Rs. 60, 000 from me in the name of processing
charges /fees.
In view of the above, I request to take strict disciplinary and legal action against all persons found responsible.
Was this information helpful?
Post your Comment