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Bharat   16 January 2016

Bank avoiding to release security papers even clearing full

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



Learning

 8 Replies

SIVARAMAPRASAD KAPPAGANTU (Retired Manager)     17 January 2016

Please ensure that you do not have any other direct or indirect liability with the Bank.

 

When you do not have any liability whatsoever with the bank, it is their bounden duty to release all the security documents including the title deeds deposited with them for creating a mortgage.

 

Write with full details to the head office of the bank, preferably by Registered Post A/D (not by courier) and preserve the acknowledgement. Give a reminder likewise after one week from receipt of acknowledgement.

 

Still no response from Bank or resolving the issue ie. release of title deeds to you, file a complaint against the bank before the Banking Ombudsman who shall issue notice to bank and resolve the issue. For more details as to how to file complaint, go the website with the help of following link:

 

https://www.rbi.org.in/Scripts/FAQView.aspx?Id=24 (click)

Kumar Doab (FIN)     17 January 2016

Repeated query:

 

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

 

Kumar Doab (FIN)     17 January 2016

Query repeated 4 times.

G.L.N. Prasad (Retired employee.)     17 January 2016

Just issue a Registered notice to Bank first, informing the date of closure of the account and request for returning of the documents offered as security for the borrowed amounts. In that notice inform Manager that you will be constrained to report the matter to Banking Ombudsmnan and RBI if documents are not made available within a week.

(Before that please check whether for cancellation of mortgage, any amounts are payable direct to sub registrar as official fees)

SIVARAMAPRASAD KAPPAGANTU (Retired Manager)     17 January 2016

Admin to the site please note that this person Bharat is misusing the forum by repeatedly posting the same question. The above question is recorded in his profile inthe following link:

 

https://www.lawyersclubindia.com/profile.asp?member_id=339683

 

Please take suitable action.

narendra.s.p (Chief Manager(Law))     25 March 2016

under section 60(a) of Transfer of property Act, if you have redeemed the mortgage security then you are entitled to get back your title deeds.

 

G.L.N. Prasad (Retired employee.)     25 March 2016

If the deeds are not yet returned, issue legal notice under CP Act demanding compensation for harassment.

Kumar Doab (FIN)     17 April 2016

Approach DCDRF


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