I had applied for home loan thru LIC HFL Faridabad branch on 14th June’2012 and my loan account number is 310200001002. All the relevant documents along with property documents were submitted immediately with LIC The agreement to sale was valid till 19th of July. I was assured by LIC executives that loan would be disbursed in maximum 15-20 days. However, due to very slow processing by LIC HFL (rather sarkari attitude), the disbursement could not be made on 19th July. I was again asked by LIC to take 2-3 additional days from seller so that LIC can complete their formalities. Seller was not at all willing give additional time, but somehow, I managed to get the agreement date extended by another 6 days i.e. till 25th July. I was again assured by LIC executives that this time is sufficient and I will get the cheque in 2-3 days. However even after daily chase ups, I could not get the cheque by the due date. The reasons given to me was that printer in LIC office has gone faulty. As I could not make the payment to seller in agreed time, seller refused to sell me the property and demanded for additional Rs 3 Lakh as penalty. After many negotiations and requests, matter was settled by paying additional Rs 1.5 lakh to the seller. Delays created by LIC HFL resulted in not only financial loss of Rs 1.5 lakh to me but also mental harassment during that period. Again in next disbursement, I had to chase LICHFL for almost a month to get the disbursement, resulting in interest penalty from the builder

I cannot bear such huge penalties due to in-efficiency of LIC HFL. LIC HFL should arrange to compensate my losses.

Complainant Information
name- amit_sharma_us