LIC Housing Finance to Auction Properties of Ex- MP Renuka
The company has invited e-bid submissions until March 23, 2026, and stated that the e-auction will be conducted on March 24, 2026
KURNOOL: LIC Housing Finance has initiated steps to auction properties belonging to former Kurnool MP Butta Renuka and her husband Neelakantha over alleged loan defaults.
According to official sources, the couple had availed loans amounting to approximately `340 crore from LIC Housing Finance in the past. While repayments were made initially, the accounts reportedly turned irregular later, leading to mounting dues. The outstanding amount is said to have risen to `782.07 crore, including interest and other charges.
Despite issuance of notices and efforts to arrive at a settlement, no alternative agreement could be reached between the parties. Consequently, the lender has commenced the process of auctioning the mortgaged assets.
In a public notice issued by the company’s Bengaluru branch, LIC Housing Finance announced the e-auction of a prime property located at Survey No. 1009, Phase-6, KPHB Colony, Hyderabad, measuring 3,833.28 square yards. The property includes the Meridian School building and has been valued at ₹65 crore.
The company has invited e-bid submissions until March 23, 2026, and stated that the e-auction will be conducted on March 24, 2026.
