loss of title deed in the custody of bank

Querist : Anonymous (Querist) 20 February 2010 This query is : Resolved
sir

legal protection to the bank, when the document was misplaced while in the custody of the Bank. legal remedies protecting the interest of the bank, or protections available to the bank. case law if any

with regards

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bhupender sharma (Expert) 20 February 2010
make a publication in this regrd in the national news paper and a Non cognizable report before the police station under section 155 of the code of criminal procedure.

Querist : Anonymous (Querist) 20 February 2010
thanks it is procedural steps to be initiated on behalf of the bank. but the borrower insists document and tried to initate steps before courts for document, then the defence to the bank

Raj Kumar Makkad (Expert) 20 February 2010
No specific defence is available with the bank except human error and this error can be corrected only by issuing the certificate to the borrower that those documents have lost from their custody so that duplicate documents may be obtained by him. Bank should make the payment of the expenses o be incurred by the borrower in these circumstances.

Y V Vishweshwar Rao (Expert) 21 February 2010
I agree with Shri Raj Kuamr Makkad and mistakes are common for Bank as well as individuals . The Costs of the Publication ,Docuemtn Copy/CC charges to be paid by the Bank and Bank shall issue a certificate that the document is misplaced from the custody of Bank and there is no mortgage on it .

Querist : Anonymous (Querist) 21 February 2010
thanks for sharing the views my dear professional

Kumar Thadhani (Expert) 08 March 2010
These are common issues for the bank,The bank are responisble for all costs and expenses and to thereby issue certificate stating the loss of documents.

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