Submitted by: Shreya Poojari from FCRIMS Description: D. Srinivasan, his wife and his son D. Venugopal had obtained a housing loan of Rs. 30 lacs from the bank in the month of September, 2008 for the construction of the house. They were the joint loanee’s for thr loan amounting 30 lakhs from State Bank of Hyderabad. They also had a life insurance under the name of the son Mr. D Venugopal. A sum of Rs. 78,150/- was debited from their loan account towards life insurance cover, covering the life of D. Venugopal who was one of the joint loanee’s. The
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