Sub : _Please let us know the reason for rejection of Applicaton for
Housing Loan_

Sir,


We had approached Vashi Branch of LIC Housing Finance Ltd. for shifting
our existing Housing Loan from ICICI Bank due to the difference in
interest rates. We met Ms. Aditi Dani, Asst. Manager (as Area Manager
was on leave) and showed her the papers including the salary
slips/appointment letters etc. to know whether we were eligible or not
for home loan. I am working with M/s. Techno Shares and Stocks Ltd.,
Mumbai and Ms. Aditi told that this company is approved by LIC Housing
Finance. My wife (co-applicant) is working with Nuclear Power
Corporation, a central government undertaking. Ms. Aditi told us that we
were eligible for home loan and asked us to obtain NOC, Loan account
statement, track record and list of documents from ICICI Bank to process
further. Then we have approached ICICI Bank and paid Rs. 200.00 (bank
charges) for the same.


After 3 meetings with Ms.Aditi, we submitted our full bunch of papers
including NOC from ICICI bank on 3^rd March, 2009 and personal interview
of both of us was conducted by Ms. Aditi. Infact not even a single
document was pending at our end. On 6^th March, one executive visited my
office for verification. However, the same day evening, I got a call
from Ms. Aditi telling that they don’t give loan to share broking
companies. She also said that the cheque towards processing charges
given by us has been deposited on the previous day and asked us to
request the bank for stop payment. (However, they have managed to get
back the cheque from their bank). Kindly find attached the proof of
personal discussion.


I wonder and doubt whether LIC Housing Finance’s agenda is to harass
people. Nothing was told about the non-eligibility of share broking
companies in the three meetings and even the office verification was
over. When the government is encouraging the banks to lend more loans,
why LIC Housing Finance is giving such meaningless reasons for rejection
of loan application?


We have wasted our time and money due to the misguidance of LIC Housing
official. Where will we go for justice?


I would like to know from the senior officials why my application was
rejected ? Whether LIC Housing has never given loan to employees of
public limited share broking companies?

Sd/-


Gliry P. Paul & Sindhu. P.G.,
O.P.CHS Ltd., Kanchanjanga,
Flat No. 804, ‘A’ Wing, Plot No. 20,
Sector-11, Koparkhairane,
Navi Mumbai-400 709.