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Loss Of Title Deed Mortgaged by bank

(Querist) 10 October 2009 This query is : Resolved 
Sir,
My Father took home loan from Punjab National Bank 10 years back. within a period of few months he was informed that the title deed mortgaged has been lost from bank. there was no theft / robbery / natural-human calamity. only the deed and few drafts were reported to be missing.Since last 10 years we have been trying every possible thing but to no use.The managers keep on getting change and so does the staff therefore nobody takes the responsibility to answer. we filed complaint in "ombudsman", they initially assured us as the case was in our favour but later we received an answer that the bank is not liable for the same.
we are ready to pay back the remaining amount toady and want that the bank should get the property transferred in the name of my Mother and give us the title deed and nothing else.
->Are we expecting more?
->Is the bank not liable?
->What if the loan amount have been snatched from me in front of the bank,would I be held liable to pay the loan or not?

My father is 50+ and he cannot take it any more. its already been 10 years almost :(
adv. rajeev ( rajoo ) (Expert) 10 October 2009
U can obtain the certified copy of the tittle deed from the sub-registrar of ur city.
U request the Bank Manager to issue a letter stating that tittle deed is missing which was with them.
It is aleady time barred to file a consumer complaint
U clear the loan first and ask for the tittle deed again, after taking the letter from the bank go for consumer case and claim the compensation for the negligence of the bank.
Dont go with the money to the bank just if your father has got another a/c just issue the cheque of that bank because Ur afraid of the snatching the money.
PJANARDHANA REDDY (Expert) 10 October 2009
MR.RAJEEV'S SUGGESTION IS SUFFICIENT TO PROCEED.
Sachin Bhatia (Expert) 10 October 2009
Same opinion
Simran Juneja (Querist) 10 October 2009
Sir,
I already have obtained a certified copy and that too two copies. also i have a letter from the bank that they have lost the deed but
is the certified copy as valid as the deed itself??
and if filling a case in the consumer court then how should i proceed??
PJANARDHANA REDDY (Expert) 10 October 2009
CERTIFIED COPY IS AS GOOD AS ORIGINAL WITH BANK LETTER.APPROACH DISTRICT FORUM OF YOUR AREA AND FILE A COMPLAINT FOR THE NEGLIGENCE AND DEFICIENCY IN SERVICE ASK FOR THE REASONABLE COMPENSATION FOR THE ACTS OF THE BANK
A.P.Manoranjan (Expert) 10 October 2009
I FULLY AGREE WITH MR.JANARDHAN REDDY'S ADVISE. pLEASE FOLLOW.
Guest (Expert) 10 October 2009
My friends have correctly advised. Follow those steps. Issue cheque only for repayment of remaining loan.

About bank's attitude. It is nothing but "Goonda-gardi" and irresponsibility of the highest degree. Err is human and we can understand it. But, why they won't correct their silly mistakes and put the public in misery with their arrogance. The reason is that we cannot find time and means to haul them in court of law for their negligence and the compensation for 10 years long hardship.

The ombudsman is one more cunning card in the armoury of public instrumentality. This ombudsman does nothing. He has no power to do any thing against the bank officials and he cannot provide any relief to any one but a decorative piece to soothen the volatile public. Not only "ombudsmen", some more statutory authorities are created by parliament without giving them any teeth to bite and they also are doing the same thing, i.e., without giving any relief to the aggrieved public but put the matter in cold storage.

If you have time and means you approach the court of law (even criminal case lies against the bank) seek not only compensation but also departmental action against erring bank officials.
Simran Juneja (Querist) 10 October 2009
In my first post i asked:
"""What if the loan amount have been snatched from me in front of the bank,would I be held liable to pay the loan or not?""""

it meant that if i took something from the bank and say that i have lost it..in taht case i not responsible to pay it back,, because the bank says that it is lost and that is it and we aren't liable.

But i will follow as you stated above at the earliest.
THANKS.
Sachin Bhatia (Expert) 10 October 2009
If you have received the amount from the employee on duty abd the same has been snatched then you are liable to pay the loan amount.

Go with the advise of Mr. Prabhakar approach the competent court of law.
Raj Kumar Makkad (Expert) 11 October 2009
The opinion of Kiran is perfect.
Adinath@Avinash Patil (Expert) 11 October 2009
YOU CAN FILE CONSUMER COMPLAINT YOU CLAIM COMPENSATION.
IF YOU THINK TIME BARED, YOU FILE AN APPLICATION U/S 5 OF LIMITATION ACT FOR DELAY CONDONATITION. YOU WILL GET REMEDY FROM CONSUMER FORUM.


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