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BRIJESH MESHRAM   09 September 2017

original title deeds lost by bank

My father has taken home loan from sbi bank in 2007 and repayment full amount in 2011 but the title deeds were not released by the bank.they said that we are tracing it. Now they are saying that the sale deed is misplaced by them and has provided in written to me.I had obtain certified copies from sro office but I can't sell the flat in future as no bank give loan on certified copies. so now how much compensation can I demand to them according to law?


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 17 Replies

Siddharth Srivastava (Advocate)     09 September 2017

Certified copy has the same affect as of original. You can claim damages as you think proper.

G.L.N. Prasad (Retired employee.)     09 September 2017

File for compensation of Rs.19 lakhs so that you can argue in person and attend in local district consumer forum.   Before fililng complaint in District consumer forum, it is mandatory to issue a notice under CP Act.  Once you get the notice issued through advocate with all relevant facts of consideration, deficiency of services, you can personally argue the case (As there is nothing to be argueed, as loss of title deeds is nto being disputed by Bank) and the expenses may not be more than Rs.500/- in all excluding the nominal Complaint fee.

Kumar Doab (FIN)     09 September 2017

You could have asked the Bank in writing under proper acknowledgment to release advt in newspapers, lodge FIR and get the documents recreated.

Obtain declaration given by bank by email/letter under provisions of RTI also.

Kumar Doab (FIN)     09 September 2017

You may pursue the recourses suggested by Mr. G.L.N. Prasad.

Kumar Doab (FIN)     09 September 2017

Why to repeat..............?

Kumar Doab (FIN)     09 September 2017

Approach your own very able LOCAL senior counsel of unshakable repute and integrity specializing in such/banking/civil matters and having successful track record.

BRIJESH MESHRAM   09 September 2017

G.L.N. PRASAD Sir,If I demand compensation above 20 lacs,I can argue personally or I have to consult an advocate? Also I had read somewhere that we can demand compensation of double the market value and Rs 100 per day of kelay charges. Is it true? What is the possibilities of compensation

BRIJESH MESHRAM   09 September 2017

G.L.N. PRASAD Sir,If I demand compensation above 20 lacs,I can argue personally or I have to consult an advocate? Also I had read somewhere that we can demand compensation of double the market value and Rs 100 per day of kelay charges. Is it true? What is the possibilities of compensation

G.L.N. Prasad (Retired employee.)     09 September 2017

Forum is the authority that can decide on the actual suffering and do not think what ever compensation is demanded complaint will be considered.  They may grant compensation, but not at the level you expect, as the actions are not deliberate and malafide.  You have to submit only one fact that there is deficiency fo service in not returning the title deed after liquidating the housing loan.  Burden of proof is on other party to establsih there is no deficiency of service. I do not know or even heard any where that one can demand double market charges and Rs.100/- per delay etc.  Forum may award compensation as there is negligence.

SACHIN AGARWAL (ADVOCATE)     09 September 2017

You have not disclosed the cost of teh property and the cost of stamp duty. However, you can sue the Bank for deficiency in servises because it was the responsibility of the Bank to keep the title documents safely, which they did not fulfill as such Bank is liable.

It is upon teh Consumer Forum to adjudicate the losses you suffered.

Now you cannot obtain the loan from any financial institution and also the property cannot be mortgage by way of equitable mortgage for which you may claim compensation.

 

Kumar Doab (FIN)     09 September 2017

Pool all posts/suggestions and act to defend your interest..

 

G.L.N. Prasad (Retired employee.)     09 September 2017

You can ask your father to execute some kind of document to get original title deed in favour of any of his children, to overcome this issue.

BRIJESH MESHRAM   10 September 2017

Sir,If I demand compensation above 20 lacs,I can argue personally or I have to consult an advocate?

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