Bank avoiding to release security papers even clearing loan amount.

Bharat (Querist) 16 January 2016 This query is : Resolved
Swaraj Urban Bank acknowledge in writing of receipt full loan amount on 4/6/2007 but bank avoiding to hand over my original papers of my home which I mortgaged with bank for loan. Bank officials are insisting me for some cash amount from me to release security papers.

Kindly advice me how I can get my security papers release from bank.

Thanking you,

Yours faithfully

Bharat G
atbcentre@rediffmail.com

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J. P. Shah (Expert) 17 January 2016
You may approach MD of the bank and if it does not work in 15 days, issue bank notice under consumer protection act for deficiency in service and unfair trade practice, through an advocate. If this does not solve the problem move consumer forum through an advocate. If some good consumer protection NGO is working in your area, you may request it to intervene.

P. Venu (Expert) 17 January 2016
Is it a cooperative Bank? You may complain to the Registrar as well.

Kumar Doab (Expert) 17 January 2016
4 threads for the same query:

http://www.lawyersclubindia.com/forum/details.asp?mod_id=131999&offset=0

http://www.lawyersclubindia.com/forum/details.asp?mod_id=131998&offset=1

http://www.lawyersclubindia.com/experts/Bank-avoiding-to-release-security-papers-even-clearing-loan-amount--579696.asp