Dear Sir, you have to issue a legal notice to them and take legal action in this regard immediately.

1. Do not stop your instalments payment

2. Make the payment under cover of a letter in which you can ask about the copy of the insurance policy and also state that the EMI is being paid on 'without prejudice' basis and you shall be taking appropriate legal action against the lender for unilaterally availing a second loan without your instructions and using that loan to buy an insurance policy with very high and exorbitant premium

3. also state that you would be at liberty to recover the premium paid by the lender and also claim interest on the same

4. before buying the insurance policy the insurance provider always sends a proposal which the insured has a right to either accept or reject. Check if that was done in your case

5. if the lender has without any intimation and without your knowledge availed the insurance having an exorbitant premium then you will have to file a civil suit against the lender for recovering the premium paid with interest

file complaint against IIFL before consumer forum

2) mention they forced you to take TATA AIG policy with high premium

3)that your request for cancellation were rejected

4) that you have been paying premium of housing loans

5) to direct IIFL to cancel policy and refund your money with interest

case has to be filed in bangalore as loan taken by you in bangalore . it would be subject to jurisdiction of courts at Bangalore only

Send them a legal notice in the present matter.

If the needful is not done despite the legal notice, contact a local lawyer and file a consumer complaint against IIFL.

You may send the above legal notice through kaanoon.com

Show noitce,

Approach Consumer forum, as policy hired without your knowledge and consent.

You can file a mandamus writ in the High court making the IIFL and Tata AIG as respondents in this regard and raise objection on the insurance policy taken without your confirmation through cheating.

File an Consumer complaint as this is clearly prejudice to your right without your authorisation IIFl cannot sanction second loan this is malpractice and deficiency in services.seek cancellation and refund of the amount. further make an complaint to both banking and insurance ombudsman against both companies for the malpractice.

First issue a legal notice to IIFl for illegal practice for refund and cancellation if they deny file a complaint for refund and cancellation.

Firslty, as you said that you have many number of times contacted them verbally plus written for sharing the terms of the policy, but they didn’t do so.

Secondly, in fact it is very illegal to get the policy without even your signature on the same or if you signed them without providing all details to you.

Thirdly, you write them a representation about the same.

Fourthly, then wait for few days and file a Writ of Mandamus in the High Court to get the direction for hem to disclose the details and how did they do so.

Have you already paid the insurance premium?

If so, did you get the original policy?

Have you signed the proposal form for insurance policy?

Have you given in writing to the lender about your unwillingness for this insurance?

Did the lender finance company give any reply in writing to your letter demanding them to cancel the unjustified insurance policy which was forced on you against your willingness?

Did you writ to the insurance company requesting for cancellation of the insurance policy if the policy was already taken on your name by the finance company?

Gather all the documentary evidences on the above lines, and drage the company to the consumer forum for deficiency in service and for their atrocities which can be treated as unfair trade practice.

You can consult an advocate and initiate steps on all such further issues.

1)you have to invoke arbitration clause

2) suit is not maintainable in view of arbitration clause

3) you can however file complaint before consumer forum as it is an additional remedy

4) you can execute POA in favour of family member

5) once you have paid the installment dues notice would not be valid

1. The arbitration clause need to be invoked as it agreed by both the parties.but still this would not take away remedy as available in consumer court so you can still file a consumer complaint.

2. Suit is not maintianable when there is arbitration agreement. Further the consumer complaint can be filed on ground on malpractice and deficiency of services.

3. Give poa for filing complaint to your wife or any other relative.

4. If installment is paid in lieu of notice it is not valid now.

1. This grievance cannot be addr34essed by arbitrator, a solution for this is through consumer forum only.

2. Your grievances are the grounds for your complaint.

3. You can give a POA deed to somebody to represent you during your absence.

4. Yes, the notice is valid since it is for the repayment of the loan availed by you.

1. how can they refuse to provide original insurance policy? you are the insured so you should have the original. atleast a copy needs to be provided

2. what were the powers given in the POA?

3. to whom did you grant the POA?

4. court procedure is long and trecherous

5. write to the banking ombudsman and follow that up with Right to Information Application

6. for any legal action you wish to take, your presence will be required for signing the petitions and other papers. For that you can grant a power of attorney to some trusted person who can represent you in the court matter

7. once you pay the instalment demanded in the notice, the notice becomes infructous ie. of no effect

8. the lender must be registered with RBI....I strongly suggest you make a written complaint to the RBI Ombudsman. If you do not receive proper response you can file a Writ Petition in High Court. Thats much faster than consumer court complaint

1. Did IIFL threatened you that they will initiate SARFAESI action? If yes, the get a letter from the to that effect. Only a lending Bank/Financial Institution can issue SARFAESI action against its defaulting borrower whose property has been mortgaged with them. First of all collect date of premiums from all the insurance companies offering such insurance plans having similar insured period and all other terms. Thereafter file a complaint case before your local district Consumer Dispute Redressal Forum alleging deficiency in service and unfair business practice praying for refund of the huge amount they have already deducted towards the said insurance with interest, damage and cost. They should also be directed to accept the insurance from any insurance company selected by you.You shall have to file the case against Asrtha Properties, Bengaluru, IIF and also Tata AIG.

2. Your ground will be deficiency in service and unfair business practice which is clear from the records that they have arranged the insurance company which takes 17 times more amount towards premium than other insurance companies.

3. You can execute and affirm a POA in favour of any body in India who will file the said complaint case before the Consumer Forum.

4. You shall have to write to IIFL stating that you do not want to continue your insurance with Tata AIG and want to sift to some other insurance company to be named by you and IIFL shall have to deduct the premiums for the new insurance company selected by you and not for Tata AIG. The builder IIFL can not force you in picking up your insurance policy from the company they want.

1. Payment of Rs.3,46,000/- towards one time payment of premium for covering a housing loan of Rs.21, 33,000/- does not seem to be 17 times higher than the premium charged by other insurance companies for the same insurance terms. It will be prudent on your part to recheck since it may not be possible to insure your said property worth Rs.21,00,000/- and your life with one time premium of Rs.20,353/- being 1/17t of the premium you have paid to Tata AIG. there might be a gross mistake in understanding the matter.

2. If your POA holder has signed the insurance policy after seeing the terms then you hardly have any chance to agitate on the amount you are to pay towards the premium. However, Tata AIG is bound to supply you with the insurance details and even after receiving the said details you have the right to terminate your said insurance policy and start with any other insurance company of your choice.

3. If your POA holder has signed the policy agreement and one time payment towards the premium has already been paid by you then there is no point changing the insurer and there is hardly any ground on your side to agitate unless you can prove that the said one time premium charged by the Tata AIG is abnormally high in comparison to that charged by other insurance companies for the same terms and conditions of the policy.

4. When you have bought the flat, you shall have to insure your life and the property and assign the policy in favour of the lending institution to ensure that in case of your untimely demise before repaying the entire loan amount taken by you, the said financial institution can recover their dues standing in your name from the said insurance company.

Sir,

With regard to the insurance issue, you can get the address from the web site and write to them immediately. Please write to IRDA as well, with copy to the insurance company and IIFL. Please ask IIFL to send you the details of the EMI you are supposed to pay for the entire loan period and the statement of accounts showing how much have been credited to your loan account and for what. After you reconcile the statement of account and in the event you find any discrepancy or you see that the notice sent by them is not correct, then you have to go for Arbitration as the agreement has an arbitration clause. You can file a case through POA.

Regards

You can approach Consumer Court for the same. Only default of loan can cause you a action under sarfesi Act.