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Bank not returning property papers despite clearing the loan
21-Oct-2023 (In Recovery Law)
Can a bank hold the property papers for more than a year now. I have cleared all the loans and am no longer associated with the company in any capacity. Despite writing to the bank several times they are not replying. nnWhat is the law for this?
Hi,
You may file a consumer complaint and also prior to that file a complaint before the Ombudsman. There are several judgments now whereby Bank is liable to pay damages by way of compensation to such customers whose Property documents have been misplaced and lost. You immediately issue notice to the Head office of the bank along with a Police complaint to be done by you. You also have to get a news paper notice issued by the bank in event such documents are not traceable.
Please connect with an attorney who can follow the above process appropriately.
Thanks Adv Sarthak Shah
You may file a consumer complaint and also prior to that file a complaint before the Ombudsman. There are several judgments now whereby Bank is liable to pay damages by way of compensation to such customers whose Property documents have been misplaced and lost. You immediately issue notice to the Head office of the bank along with a Police complaint to be done by you. You also have to get a news paper notice issued by the bank in event such documents are not traceable.
Please connect with an attorney who can follow the above process appropriately.
Thanks Adv Sarthak Shah
Helpful?
Adv. Sarthak Shah
Mumbai | 100+ Answers
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Well, then you have to file a case in Consumer Court against Bank on the ground of adoption of such kind of malpractices and deficiency of services. You can also file a case in High Court for the Breach of your Privacy, as such Document if remain with the custody of the Bank, can spoil your Right to Privacy.
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Adv. Pankaj Bajaj
Mumbai | 500+ Answers
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