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prashant (counsultant)     04 January 2011

bank not releasing DOc and NOC of pre closed home loan

TO,

Lawyers club

 

I am living in Mumbai since last four years. Earlier I used to stay at Gujarat; in 2001 I had one home loan with bank of Baroda, umbergaon town, dis bulsar, Gujarat branch. I pre closed loan on 4 th dec 2010 by paying full amount, after paying loan I ask for NOC and all DOCUMENTS of said property.

 

Bank manager release standard NOC to my friend who paid loan on my behalf and to whom I sign authority (registered power of attorney) of same property. But he refuses to give NOC for society and notified area (as property is in industrial area) and all original documents of property. He ask me to come personally to branch to collect all doc and NOC, we submit power of attorney to him but he stick to his point, I explain him all the point that I cannot come personally on working days at least till march . when he can give one noc to power holder why can’t he give all other NOC and doc to him, at the time of pre close he promise us that there is no need of borrower to come personally to collect doc and NOC and he can release all to power holder.

 

Now please help me, I already have word with RM of bulsar but he only says come to branch then only they will release everything, I told him one year back when I settle my property loan with same branch earlier branch manager release all NOC and doc on simple fax which I sign to one of my relative.

 

Please guide me .



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 5 Replies

Asha Pole (Legal)     04 January 2011

Generally bankers or financial institution do not recognise power of attorney hence they are reluctant to hand over noc to the attorney general, since they do not want to take any onerous arising out of such transfer.

I agree you may have personal problem but then it is advisable to visit the bank to get the required document

1 Like

RAJESH KUKREJA (ADVOCATE)     04 January 2011

MR PRASHANT YOUR POINT COULD BE RIGHT AS ASHA SAID GENERALLY BANKERS DON'T HANDOVER THE PROPERTY PAPER TO OTHER/THIRD PARTY AS THEIR ARE SEVERAL LEGAL POINT ABOUT POWER OF ATTORNEY ETC YOU PROVIDED,

ANYWAY IT IS BETTER TO COLLECT THE PAPERS PERSONALLY, HOWEVER YOU CAN REQUEST "NO OBJECTION CERTIFICATE" THAT CAN SENT THROUGH POST TO YOUR RECORDED ADDRESS 

1 Like

prashant (counsultant)     05 January 2011

thnx maa'm, i agree for doc but he is not sending me or giving my friend NOC , i ask him that he can send it to bank of baroda mumbai branch, in which i have saving account since last four years, and i can sign in front of branch manager and collect NOC ,  or he can courier it to my mumbai address, pls guide

Asha Pole (Legal)     05 January 2011

Well Mr.Prashant, I just had a word with one of the relationship manager of some other bank. And they had the same opinion ,bankers do not hand over such crucial documents to a third party unless the banks have a good rapport with the clients on a personal level. Since they do not want to invite any hassles in future. I think it's very logical and imperative for the bankers to protect the client & their own prestige so probably the only alternative is to come down and collect your NOC.

nishad (Asst.Manager Legal)     05 January 2011

Rightly advised by Asha...Yes bankers do not release the title documents to a third party even on the strength of the POA...so it would be advisable to go down and collect the same....contents of POA are subject to interpretation and bankers do not take chances on such varied interpretation on the same instrument.


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