LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Arika Songra   27 September 2017

Lost of original property papers by bank

I have purchased a property in 2010 for which we took loan from the bank. Now in 2017 I want to transfer my home loan to some other bank who is offering me home loan at a lesser rate. When we asked our bank for our original papers we came to know that bank has lost our original property papers. It was us who has notified after 7 years about our original property papers. Bank has never informed that original papers are not missing with them. Now after our regarous follow ups, bank has agreed to borne the amount which will be required to pay during the procedure of certified copy. As per latest update bank is saying that they have arranged for the certified copy and want us to sign an idemnity bond stating in good faith bank acknowledge the lost of original documents and in good faith will lodge an FIR and advertisement in news paper. Also stating that in future customer should put any case against bank in any court and neither in consumer forum. They are asking us to sign the bond and after that they will lodge FIR and advertisement. Please advice what has to be done. Should i put a case against them? Will i get any compensation for that? Will the price of my property come down with this certified copy if in future i want to sell? Kindly advice on this.


 9 Replies

Kumar Doab (FIN)     27 September 2017

It is your choice.

The Bank is deliquent and deficient.

Your very able senior LOCAL counsel of unshakable repute and integrity specializing in Consumer mattters having successful track record can update you on prospects of compensation from DCDRF.



Kumar Doab (FIN)     27 September 2017

Same Query:

Master Warrior (AOR)     27 September 2017

I would consult with local counsel as Kumar has said.

The bank lost your papers, and even a certified copy may not do for some potential buyers. The bank should provide you with more documentation that a buyer of the property would see that it was the bank that lost the papers not you (or that bank had them, you didn't just misplace them or lie about them).

The indemnity is to protect themselves. Lodging an FIR and ad in local newspapers is something they should be doing even BEFORE you sign an indemnity bond, because if you don't sign it and they say "We won't file an FIR", what's to stop you from going to court and demanding that the bank produce the documentation? Court may be an option though as then there will be a court order or agreement clearly stating that the bank lost the documents.

You said "Also stating that in future customer should put any case against bank in any court and neither in consumer forum." did that mean "put a case in court and not in consumer forum" or neither court nor consumer forum?




Arika Songra   28 September 2017

Wording in idemnity bond are like " customer should not file any litigation against LIC in any court of India and also includes consumer court of India"

Kumar Doab (FIN)     28 September 2017

LIC wants to save and defend its interest.

It is your call.



Arika Songra   28 September 2017

Yes, they are saving themselves. On the other hand they are saying we are doing all the formalities and we will bare the cost. But as discussed with my friends, the cost of my property will come down once the buyer see those certified papers. So I have decided to file case against LIC and ask for some solid proof that it was LIC fault and also they have to pay me the compensation

Kumar Doab (FIN)     28 September 2017

Subsequent to talking to your friends, discuss with a very able counsel handling revenue matters  that can advise you the best for proeprty related matters  and then consumer matters that can advise you for compensation that you are thinking of.

SHIRISH PAWAR, 7738990900 (Advocate)     29 September 2017

Arika you have strong case against bank so you can proceed and file case against bank in consumer forum for compensation.

Kumar Doab (FIN)     29 September 2017

Visit nearest DCDRF and try to speak counsels appearing there.

You can also access informatin at;

and the judgments also.



Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register