Maharashtra co- op society act
jimmy
(Querist) 12 February 2012
This query is : Resolved
We had a loan case with a cooperative bank which we lost and so made to pay the entire loan amount with interest as prescribed by the bank in march,2011. But after repayment, the bank has not returned our documents/ security check, nor it has given us a release deed on our attached properties!! It has not even issued us a No-dues certificate!
All that the bank is saying is to collect all these documents from the banks head office! Whereas as the bank had disbursed the loan and attached our properties from our city branch! The repayment was also made at the local branch. So, why is the compulsion to go to their head office at a diffrent city altogather??
Is it a law of maharashtra cooperative society to obtain the release deed and all clearance documents from the head office if the bank, and that too by personally visiting that H.O.??
We have filed a criminal case under section 409 on the bank manager and recovery officer, as we know certainly that they are personally harrassing us for returning our documents.
Kindly advice us the best solution to obtain our documents in the local branch.
Thanks.
V R SHROFF
(Expert) 12 February 2012
First of all, you should have APPEALED/ REVISION APPLICATION U/S 154
CO-OP SOCIETIES ACT, 1960.
in Mar 2011. You lost that opportunity.
You already Paid a lot.
Now for small matter, why you are wasting time, and keeping your Doc with Bank. you go to H.O. & get back. It may be their procedure.
Better First Collect your Original Documents.
Raj Kumar Makkad
(Expert) 12 February 2012
Bank branch which disbursed the loan and got entire re-payment has to issue Clearance Certificate and release of mortgaged properties with return of all relevant deposited title deeds etc. which has not been done in the given case so this is certainly a deficiency of service on its part. File a consumer complaint simultaneously with the criminal case.
M V Gupta
(Expert) 14 February 2012
Where did you make the deposit of title deeds to create the mortgage? if the deposit was made at the HO of the Bank, the HO will return the documents to u against your ack. If the deposit was made at the branch office, then the branch should return the documents to you. No dues certificate also will be issued by the Office where the loan account is maintained.If the Bank dooes not return the documents it will be deficiency in servioce making it liable to pay damages to u. You may have to file complaint before the Dt Consumer Forum.
