While the Company primarily provides business loans, if any personal loan has been sanctioned and disbursed, the following process will be followed to return original movable or immovable property documents to the legal heirs in the unfortunate event of the death of a sole or joint borrower.
Upon receipt of a formal request from the legal heirs of the deceased borrower or collateral owner, the Company will require submission of the following documents:
Death Certificate Copy along PAN / masked Aadhar / Voter ID / Passport Legal Heirs Certificate or Survival Members Certificate issued by the Competent Authority.
In case of Multiple Legal Heirs, all the Legal Heirs to be present for document handover along with KYC Documents like PAN / masked Aadhar / Voter ID / Passport in Original to doing Original Seen.
After verifying the submitted documents and confirming the entitlement of the legal heirs to the property documents (which may include obtaining an opinion from external legal counsel), the Company will arrange for the orderly release of the movable and immovable property documents to the designated legal heirs, in compliance with all applicable legal and regulatory requirements.
If original movable or immovable property documents held by the Company are lost or damaged, the customer will receive the following assistance:
The Company will promptly notify the borrower in writing, specifying details of the documents that have been lost or damaged.
The Company will file a police complaint with the local authorities reporting the loss of the documents.
The Company will issue a public notice in a local newspaper informing the public of the loss and advising against any dealings with the property based on those documents.