Odisha HC junks plea against LIC over public auction of cancelled flat allotments
CUTTACK: Orissa high court has given a clean chit to Life Insurance Corporation of India (LIC) for reinitiating, through public auction, the sale of flats which were first allotted to policyholders through a draw of lots, and subsequently cancelled in 2014. A petition was filed by a policyholder who had deposited Rs 1 lakh and was among the successful applicants in the draw of lots, before the allotments were cancelled. The petition sought HC’s intervention, alleging that LIC is now attempting to profit from the same flats by hiking its cost to Rs 80.54 lakh from the earlier Rs 58.10…