HindustanTimes Sat,30 Aug 2014

Bank penalised for losing original documents of mortgaged property

HT Correspondent, Hindustan Times  Chandigarh, May 02, 2014
First Published: 23:40 IST(2/5/2014) | Last Updated: 23:41 IST(2/5/2014)

The district consumer disputes redressal forum, Chandigarh, directed the State Bank of Bikaner and Jaipur, Sector 17, to pay `50,000 as compensation to a city-based couple for harassing them by losing the original documents of their mortgaged property while securing loan.


Disposing of the complaint filed by Rajesh Kumar Sood and Geeta Sood of by Sector 46, the forum also directed the bank to pay `5,000 as cost of litigation, apart from issuing a certificate in the favour of complainants, which would facilitate them to establish their bona fide title to the property.

In February 2009, Rajesh and Geeta took a housing loan from the bank by mortgaging their house. They had submitted all original documents of the mortgaged property to the bank.

The complaint couple said that after a few months, they were informed that the loan case file of the said property had been misplaced and they were asked to fill the loan documents again, along with photocopies of documents, which was done. The couple claimed that all requests regarding locating original documents of the property failed to yield results.

In its reply, the State Bank of Bikaner and Jaipur said during the internal audit of the bank, the auditors pointed out non-availability of the sale deed and other documents and thereby the bank came to know that a bunch of security documents pertaining to this loan account was missing. The bank lodged a complaint regarding the loss of documents and even got certified copy of the sale deed from the office of sub-registrar, Chandigarh, duly attested on the requisite stamp papers.

The consumer forum presided over by PL Ahuja on April 25 held, "We feel that though the complainants are mortgagor, still the loss of their property papers/ documents is a cause of mental harassment to them.

The bank had admitted that it misplaced/lost the original documents of the complainants, therefore, it admitted its deficiency during the service rendered to the complainant."


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