LIC Housing Finance Fined for Losing Property Papers

LIC Housing Finance asked to pay Rs 10 lakh after losing borrower’s original property papers

LIC Housing Finance must pay Rs 10 lakh compensation for losing a borrower's original property documents after loan repayment. The consumer commission upheld the order, finding the company guilty of deficiency in service. Despite the borrower's repeated requests, the lender failed to return the crucial title deeds, leading to the significant penalty.

By TOI LEGAL DESK