Private bank not returning the plot original documents even after clearing all dues

JAGADEESH (Querist) 17 June 2014 This query is : Resolved
Respected All,

I have taken loan from DHFL to purchase a plot in the year 2013 and I have intimated 15 days before to close my loan in the year May, 2014 and paid all loan clearing dues. But DHFL not handover my orignial documents as they said that it will take another 15 days to handover the documents to me but already 13 days completed I have cleared my loan dues. To day I have called to the DHFL office and asked about my documents status, as they are informing that the concerned employee on leave it may take few more days. Now I need the documents very urgently to apply construction loan at another Public sector banks. Please advise how to approach and help me inthis regard.

Regards,

Jagadeesh
raghujagadeesh@gmail.com

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ajay sethi (Expert) 17 June 2014
generally 15 days time is taken for return of original documents . wait for a few days . they are bound to return originals.

Raj Kumar Makkad (Expert) 17 June 2014
You should wait at least 15 days time granted by banker failing which serve a legal notice and move ahead accordingly.

JAGADEESH (Querist) 17 June 2014
Thank you Sir for answering my query

Rajendra K Goyal (Expert) 17 June 2014
You can apply to another Bank for construction loan even the original title deed are with another institution. You can submit photocopies of title deed and assure to submit original at the time of disbursement of loan.

Devajyoti Barman (Expert) 17 June 2014
Bank take original only for giving it a look. They do not keep those in their custody and that to for 15 days.
Give them an ultimatum in failure of which send notice and then take legal recourse.

R.K Nanda (Expert) 17 June 2014
agree with experts.

Raj Kumar Makkad (Expert) 17 June 2014
None of the banker can entertain photocopies and moreover, if the property already stands mortgaged with another bank, the question of further advancement of loan over the same property d not arise.

Sudhir Kumar, Advocate (Expert) 17 June 2014
nothing more to add at this stage.

Guest (Expert) 17 June 2014
If the delay is not intentional by the bank you could obtain a Clearance certificate of Loan from them.You could also insist them to give an undertaking in writing when they would be able to hand over the originals.If the Loan is Registered you apply for Encumberrance Certificate in Registrar Office and Make sure the Loan Repayment Entry appears on it.Basing on all this the New Bank could start processing and the originals could be surrendered to them before disbursement.

Sankaranarayanan (Expert) 17 June 2014
nothing more to be needed

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