LIC has no policy to insure its heritage structures in Chennai against demolition. That’s what emerges from the recent actions of the Life Insurance Corporation of India, when it comes to matters concerning the heritage buildings in its possession in the city. This is a policy, or a course, that is completely in contrast with what the LIC has done in Bombay and Calcutta, two other cities where it owns some splendid heritage structures, all of which it has splendidly restored and maintained extremely well.

In Chennai, however, that does not appear to be the case and LIC is keen to demolish them all, thereby cashing in on their real estate value. A few years ago, it evicted all tenants who were in occupation of a building in its possession in the Linghi Chetty Street area. This structure was a part of the old Madras Christian College premises which the LIC, or the earlier insurance companies that later constituted the Corporation, and banks had acquired. These made way for a series of rather handsome art-deco structures and the only buildings that remained of the old MCC were the Anderson Church (now with the CSI) and what had become a lawyers’ block. These two were identical in design and rather complemented each other. But the LIC decided that it preferred commerce to uniform skylines and demolished the lawyers’ block. New construction is, however, yet to begin on the site.

The LIC’s most splendid possession in the city is of course Kardyl Building (aka Bharat Insurance Building) on Mount Road. This specimen of Indo-Saracenic at its riotous best has been facing an uncertain future. As has been documented in these columns, the High Court of Madras ruled against its demolition. The LIC has decided to contest this in the Supreme Court where matters rest as of now. In the meanwhile, the LIC has suddenly removed the scaffoldings that it had put up all around the building. These were originally positioned ostensibly to protect the structure which has remained roofless for a couple of years after a demolition attempt was stayed by the High Court. Now, going by the same logic, it is feared that the building may collapse, for want of structural support.

Fronting this structure, on a triangular patch of land, is Bharat Insurance Building, which now gives its name to the whole property. It cannot be structurally weak by any standard for it is a beautiful specimen of art-deco architecture, built in the 1930s. But that too has been emptied and denied maintenance of any sort by the LIC. Instead, its walls now provide a convenient place for the Corporation to advertise its various insurance policies and schemes.

A couple of years ago, at a function got up for the release of a book by the Editor of Madras Musings, the then Finance Minister, Government of India, who was Chief Guest, made an announcement that Bharat Insurance Building (meaning the entire premises) would not be demolished but restored and made over into an art-gallery and museum. With his subsequent shift to another portfolio, it would appear that the LIC has decided not to pay any heed to his words. It would cost a financial conglomerate like LIC a mere pittance to restore and maintain such buildings. But if they were to be demolished, the city would be impoverished of a lot more of its heritage.