Bhubaneswar, Sept. 17 -- https://images.odishatv.in/uploadimage/library/16_9/16_9_0/recent_photo_1712248924.JPG
The Orissa High Court nullified Life Insurance Corporation of India's (LIC) decision to cancel flat allotments under its Policy Holders' Housing Scheme at Jeevan Bima Nagar, Chandrasekharpur, Bhubaneswar.
In its order, the court has directed LIC to complete the allotment process within eight weeks, conditional on allottees paying an additional 10 percent over the original flat price.
According to the case details, in 2014, LIC conducted a lottery for 75 flats in Phase II of its housing scheme, with applicants paying an initial sum of Rs 1 lakh.
Later, citing legal hurdles such as forest clearance requirements and the absence o...