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Original Property Documents Lost by Bank

After Home Loan closure, the most shocking news for any borrower is that one of his original Property Documents Lost by Bank. On last Friday, one of my blog reader Mr. Amarnath Nagpal has gone through same trauma. He wrote a distress mail to me seeking my opinion on what to do next. He was called by his Home Loan Provider (One of reputed PSU bank) to collect his original Property Documents after he closed his Home Loan with the Bank.

The situation is no different even if page/s are misplaced by the bank from most critical documents like Sale Deed, Sale Agreement etc. Once the document or page/s are misplaced then the owner will find it very difficult to sell the property or avail loan against property. The buyer of the property will not get Home Loan easily as the banks suspect that property might have been mortgaged with some other lender specially if entire document like sale deed is missing.

When you avail Home Loan, all the original documents of property pass through multiple hands before being dispatched to central repository. For most of the banks central repository is in Mumbai. If you request for xerox of documents during Home Loan period then the documents will be pulled out from central repository by the bank. After taking xerox, documents will be again kept in locker of central repository. These central repositories are normally maintained by 3rd party. After the loan is closed, original documents goes through same cycle before being handed over to the owner. There is always possibility that Original Property Documents Lost by Bank in this process.

As i always suggest my readers that when you are collecting original documents from bank after Home Loan Closure, kindly check each and every page. It is advisable to carry xerox of all the documents with you to match in case of doubt. If you observe that any of Original Property Documents Lost by Bank then what to do next…Let’s find out

property documents lost by bank
property documents lost by bank

1. Don’t accept any original document from bank: If you observe any original document or page/s are missing then it is advisable to return all the original documents back to bank. Bank might insist you to take rest documents & sign acknowledgement. Bank will assure you to locate and handover missing document/pages very soon but be firm on your stand and return all the documents back to bank.

2. Do not sign any acknowledgement/undertaking: Normally banks take acknowledgement/undertaking first before handing over original documents. If you find out that Original Property Documents Lost by Bank then kindly destroy any acknowledgement/undertaking signed by you. Ideally don’t sign the acknowledgement without checking all the documents. Remember once you signed the acknowledgement you can’t claim that document/page is lost by the bank.

3. Register written complaint with bank regarding lost document/s or page/s: Immediately register a written complaint with bank and do mention that original document/s or page/s are missing & lost by the bank. Don’t forget to take acknowledgement from Bank official along with Bank seal.

4. Register Police FIR against bank: If any govt issued document is lost or misplaced, it is mandatory to register Police FIR. In Police FIR, clearly state that Bank has lost your original Document/s or Page/s which you submitted with the bank in original against Home Loan from bank.

5. Submit copy of Police FIR with the Bank: Take acknowledgement from bank that they have received the copy of Police FIR. 

6. Submit Court affidavit to registrar of co-operative societies: In affidavit mention that your Original Property Documents Lost by Bank. You may give written request to bank to do the needful as it is bank’s responsibility. This step  is required to avoid any fraud.

7. Public Notice in 2 Newspapers: Now the Bank will put a public notice in 2 newspapers (One English Newspaper and Another in Vernacular Language of state e.g. In Maharashtra bank will put notice in English and Marathi newspaper) mentioning Original Property Documents Lost by Bank with your property details in Notice. If anyone has objection from General Public then he/she can file the objection within 15 days.  

8. Indemnity bond from bank: In the next step, bank will issue indemnity bond to you on stamp paper stating that original documents lost by bank. The indemnity bond should contain property details, Police FIR details and details of advertisement published in 2 Newspapers. Indemnity bond should be attested & notarized by Govt Notary.

9. Duplicate share certificate: You should request for duplicate share certificate from society by submitting Police FIR copy. Clearly state in application that Original Property Documents Lost by Bank

10. Certified copies from registrar office: In next step, bank will obtain certified/duplicate copies from Registrar Office.  The bank will submit Police FIR, Duplicate Share Certificate from Housing Society, the Newspaper advertisements and the undertaking at the deputy registrar’s office. Bank will pay the required charges. Registrar will then issue the duplicate copy of the sale deed.

11. Encumbrance Certificate from Registrar Office: Once the process is completed, request for latest Encumbrance Certificate from registrar Office to ensure that everything is fine.

12. File complaint in consumer forum: You may file complaint in Consumer forum and can claim compensation from bank for service deficiency i.e. Original Property Documents Lost by Bank. You can demand compensation equivalent to double the value of your property depending on nature of loss. In such cases decision is always in favor of customer.

13. Penalty on Bank: Besides compensation, bank is also liable to pay 100 Rs per day if there is delay in providing documents beyond 15 days from date of loan closure. This is over and above the compensation for deficiency in service.

Last but not the least

(a) You need not to do any running around for all the above steps. If Original Property Documents Lost by Bank then It is the responsibility of the bank to close all the above mentioned steps.

(b) Entire cost to complete the legal process will be borne by the bank.

(c) Take all the documents from bank for your reference i.e. Newspaper Notice, Indemnity Bond, Duplicate Sale deed etc.

Copyright © Nitin Bhatia. All Rights Reserved.

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shivaram marigoli
shivaram marigoli
10 years ago

When we contacted our local police station on lost housing loan documents by bank, we were told that the bank should file an FIR. Also wanted a draft of indemnity to be given to Bank so that everything is included and we do not have any issue on the same later.

Nitin Bhatia
Nitin Bhatia
10 years ago

Bank will not register the FIR. You register FIR against bank that bank has lost your original document while in bank’s custody as a Mortgage. Police cannot refuse your FIR against Bank.

You should should hire local lawyer who can draft indemnity bond for you. As i don’t have your documents & know your complete case so can’t draft. You can send me the indemnity bond shared by lawyer, i will check and let you know if any changes required to safeguard your interest.

Dinesh Kodiyattu
Dinesh Kodiyattu
10 years ago

I am selling a old flat for agreed price of 38 Lakhs.buyer says he will make two agreements , 1) for 32 Lakhs to submit to LIC . He will show as 25 L loan+ 7 lakhs advance paid to me + 3 lakhs to be paid at time of deed (rejistration willbe for 32 L) 2) Personnel agreemnt for 38 L. ( 25 L as loan + 10 Lakhs advance given+ 3 L balance to pay) He will pay 10 L to me ( 4 L chq+6 L cash). Is this scheme ok? My query is A) there any risk in giving sale agreement for less than the agreed price? B) Is there validity for personnal agreement.? where are u located? can i discuss in telephone? Pl reply

Nitin Bhatia
Nitin Bhatia
10 years ago

I am not in favor of signing 2 agreements but it is common practice in some parts of India like in Delhi, Mumbai, Haryana etc. As i understand correctly you will get 10 lacs at the time of signing these agreements and your outstanding will be 28 Lacs. Out of 28 lacs, 25 Lacs will be paid through Home Loan and 3 Lac by the Buyer at the time of registration.

Though in both the agreements total value is different but you are mentioning correct outstanding amount i.e. 28 Lacs in both the agreements which is due & to be paid at the time of registration therefore personally i don’t foresee any issue in this. To safeguard your interests
1. You can prepare 2 original copies of each agreement i.e. total 4 original copies. Both you and buyer will retain original copies of both the agreements.
2. At the time of registration, you should take original personal agreement from buyer and destroy both the copies i.e. yours and buyers original copy of personal agreement.
3. I would not suggest you to mention CASH in the agreement as any Cash Transaction for property is illegal and is considered Black Money. Preferably you accept 6 Lac also through Cheque.

L.Anthony
L.Anthony
10 years ago

i am closing our home loan with an International Bank in Mumbai. and i have reasonably confirmed doubt that they have lost our original property documents.
while buying the property we had decided to buy Flat No. 2 , building no 10 and all formalities were done like signing of documents for this flat
But at the last moment we changed it to Flat no. 1, Building No. 5 and currently the bank is communicating with us on Flat No. 2 , building no 10, address which is different to the address we own the property (we own Flat no. 1, Building No. 5)
I did not receive any copy of sale deed from the bank, but mahada possesion letter and share certificate’s are with me and also a copy of the receipt of the cheque from the bank paid to mahada is there with me
Please advise what should i do in the below senario’s :
1. if the bank says we have issued your loan on Flat No. 2 , building no 10 and we will give you those documents.
2. The bank says we have not financed for Flat no. 1, Building No. 5
3. Bank dosent have any original property documents

Please give me your email ID or telephone number where i can contact you.

Nitin Bhatia
Nitin Bhatia
10 years ago
Reply to  L.Anthony

It is important to know what is mentioned in your sale deed and whether you informed the bank regarding this change or not. Prima facie it seems that sale deed was signed for Flat No 1 and Building No. 5 & loan was approved for Flat No 2 & Building No 10. As a 1st step you may request the bank to provide copy of sale deed to clarify your doubt and check your Home Loan sanction letter. One possibility is that bank has not updated your communication address in their records that is why you are receiving bank communication on wrong address.

To answer your query 1 & 2, if you are closing the Home loan & clearing all the dues than bank is least considered whether loan was approved for Property A and you bought Property B with/without intimating them. If it your fault than it is equal fault of bank as they should have checked property documents before releasing Home Loan disbursement so don’t worry.

For query 3: You may check my following post
https://www.nitinbhatia.in/home-loan/original-property-documents-lost-by-bank/

I would request you to post your queries in comments section of my blog. If you wish to avail my personalized consultation service on chargeable basis, you may write to me at info@nitinbhatia.in

P A NIKKER
P A NIKKER
10 years ago

Dear Mr Nitin, I have taken a home loan, at present I am a defaulter, because when I tried to foreclose my home loan, bank people told me that they have lost all my original documents.I stopped paying my EMI,s from that day. Now Bank is trying to sell my asset, how they can sell my property without any original documents?

Nitin Bhatia
Nitin Bhatia
10 years ago
Reply to  P A NIKKER

There are 2 different issues i.e. Original documents lost by bank and default on payment. Legally both should have handled separately i.e. a borrower should not default on payment if original documents are lost. A borrower may demand compensation from bank in this case provided Home Loan was paid on time.

Bank can auction the property by following the process as mentioned by me in above post i.e. by declaring original documents lost.

Subhash Bisht
Subhash Bisht
10 years ago

Hi nitin –

I would like to know if I can get a copy of my property documents form bank (while my home loan is running).

Can you please share the process and details and how I should be approaching to Bank.

Regards
Subhash Singh bisht

Nitin Bhatia
Nitin Bhatia
10 years ago
Reply to  Subhash Bisht

You can give application on plain paper to bank or bank will provide the application form for same. Bank may charge nominal amount for same but you will get copy of all property documents within 2-3 weeks time. Few banks/HFC take this request through Helpline No and you need not to visit branch.

Ravi
Ravi
9 years ago

Hi Nitin,

You have mentioned that I can approach the consumer forum to claim compensation equal to double the value of the property. Is there any specific law or regulation which quantifies this compensation? Or is this the compensation amount that is usually given by the consumer courts for loss of property documents?

Also, is this in addition to the indemnity bond, certified true copies of the documents from the registrar office, duplicate share certificate, etc?

Thanks in advance,
Ravi

Nitin Bhatia
Nitin Bhatia
9 years ago
Reply to  Ravi

Compensation is decided by consumer court on case to case basis. I only mentioned that you can file your claim for compensation of upto 2 times property value. Few of my readers received twice the property value as compensation for loss of original documents.

Naveen
Naveen
9 years ago

Hi Nitin,

Recently i have purchased flat and i applied through home loan only.i have done my Sale of Deed 2 days back.After done the registration we both seller and purchaser visited to bank to get the check and also document verification at that time my seller said his bank lost his original documents and now he is having only certified register copy of original documents and he didn’t filed any complaint against bank.Now In my bank they are asking original documents but they are not accepting the certified copy of original documents and they want FIR complaint copy,public notice,Affidavit from the bank.
Now i am worrying because i paid the token amount around 4 lac remaining around 20 bank loan.
So please tell me how the seller going to solve this problem and also in future any problem will come for me at the time of sale.

Thanks,
Naveen

Nitin Bhatia
Nitin Bhatia
9 years ago
Reply to  Naveen

If proper process is not followed as i explained in this post then probability of cheating & fraud is very high. You may cancel the deal by signing cancellation deed and register police FIR against seller for recovery of amount paid as he suppressed facts at the time of sale.

Naveen
Naveen
9 years ago
Reply to  Nitin Bhatia

Thanks Nitin for spending your valuable time for me.i’ll follow the same thing as you mentioned above with the seller.

Sharath Aithal
Sharath Aithal
9 years ago

Hi Nitin,
Once we are done with registration and submit the papers to bank, what are documents expected from bank as acknowledgement

-Thanks
Sharath

Nitin Bhatia
Nitin Bhatia
9 years ago
Reply to  Sharath Aithal

An acknowledgement on bank’s letter head with list of documents submitted in original. It should be sealed and signed by bank employee with employee no mentioned on acknowledgement.

Ayrus Patel
Ayrus Patel
9 years ago

Hi Nitin,
Your this blog is very very much helpful. Thanks a lot. I will file complaint in Consumer Forum Because while sanctioning loan they verify everything and if we don’t have any one original document then they reject the loan. So while returning also they should return all original documents. For me original sale deed and EC documents are with bank but “Agreement of sale” and “Agreement” letter they lost it. Thanks again for your post and helping needy people.
Thanks
Ayrus

Nitin Bhatia
Nitin Bhatia
9 years ago
Reply to  Ayrus Patel

Thanks for liking the post.

Ayrus Patel
Ayrus Patel
9 years ago
Reply to  Nitin Bhatia

HI Nitin,

Filing a case in consumer forum for “Agreement of sale” and “Agreement” letter, is it worth? because as per my knowledge consumer forum decision takes minimum 18 months and I am not sure for these 2 documents it is allowed to demand for double the price of house. If sale deed is misplaced then definitely we can go to Consumer forum and we can demand double value. Will RBI banking ombudsman help anything on this case?

As everyone is saying sale deed is important document and if that document is with you then you will not get any trouble in future. what would be your advise? Thanks in advance :)

Nitin Bhatia
Nitin Bhatia
9 years ago
Reply to  Ayrus Patel

I only shared general example in my post based on my experience. Compensation may vary from case to case basis.

In my opinion, Agreement of sale is equally imp document.

Ayrus Patel
Ayrus Patel
9 years ago
Reply to  Nitin Bhatia

Thanks for your reply, it is very nice that you are helping to the people, thanks a lot.

Jagan Mohan
Jagan Mohan
9 years ago

Dear Nitin Bhai,

I am planning to purchase Flat in PUNE and almost finalized the deal. But while giving preliminary token advance, the seller told that he lost the 1) Purchase Agreement 2) Index-II3) Dast Goshawara. He told that he will get the Duplicate copies from Registar office. i have given 10K token advance.But i do realized that lot of banks resit to give Home loan which i need desperately. Since the deal is very good , i would like purchase this property.Please guide what are the documents/Steps that i need to ask from him and as well as to get the Home loan from the banks. It will be great help for me if you can revert back quickly.
What are the other Caluses/steps/Precautions that i need to follow during token advance agreement and final purchase agreement regarding these lost Original docuements.
Thanks,
Jagan

Nitin Bhatia
Nitin Bhatia
9 years ago
Reply to  Jagan Mohan

I have mentioned steps in the post on this page. If you wish to avail personalized consultation on chargeable basis on how to safeguard your interest legally you may call on +91 94800 21000 to discuss the same.

vijay bajaj
vijay bajaj
9 years ago

nitinji,i have misplaced my office proprty purchase deed of 1979,that time there was no registration etc,please give me draft of affidavit required by police for lodging FIR

Nitin Bhatia
Nitin Bhatia
9 years ago
Reply to  vijay bajaj

You may approach lawyer for same.

Ayrus Patel
Ayrus Patel
9 years ago

Hi,

Bank has taken 4 Original documents while sanctioning loan to me

· Sale Deed

· Agreement

· Agreement to sale

· Encumbrance Certificate.

Same is acknowledge by bank by providing list of documents twice held by bank.

Now after paying full loan amount they are saying they don’t have Original documents for ‘Agreement’ and ‘ Agreement to sale’ and when I requested them replied like this

“As explained, you have been demanding to return the two original documents alleged to have been deposited with the Bank i.e., Unregistered Agreement and Unregistered Agreement to sale. This is owing to the reason that the Bank had, due to inadvertent clerical error, acknowledged receipt of documents.

We humbly submit that the acknowledgement provided by the Bank on October 25, 2010 and July 28, 2011 were erroneous. To corroborate the said fact, we submit that the list of documents mentioned in the said letters bear a mention about two documents, which are in no manner connected to your property. For the sake of clarity, the copies of the said unregistered documents bear no mention in the list of documents provided by the Bank on the dates mentioned in our above stated acknowledgement letters. Hence, due to the said reason, the alleged originals of the said unregistered documents were never received by the Bank. Hence, the return of such non-existent documents is not feasible, and is beyond the control of Bank.

We have engaged with you extensively and have clarified the aforementioned position. We have also tendered an apology for the typo/clerical error. Further, as a matter of abundant caution, the Bank has also sought legal opinion on loss of the aforementioned two documents. Through the opinion received from our legal counsel, we have ascertained that the unregistered documents would have no bearing on the title of the property and does not in any way affect the title or valuation of the property.

We believe that the Bank has been extremely transparent in explaining its position to you. Given that the inadvertent typo/clerical error has no material impact to you or to the title or valuation of the property, ”

What should I do? can I file a case against bank for not returning all original documents? I have proof when they asked for all originals and acknowledgement for list of original documents. But now they are saying it is unregistered and it will not impact on title or valuation of the property. But if they have taken the originals then they should return also else compensate if they have lost it. Can I ask for compensation? if they don’t agree then can I file a case for not returning original documents?

Nitin Bhatia
Nitin Bhatia
9 years ago
Reply to  Ayrus Patel

You should file police FIR against the Bank for misplacing original property documents. Don’t accept any documents from bank and submit application that bank should not send any documents through courier/registered post.

You can file case in consumer court to claim compensation. Even if documents are not registered still they are crucial as you will face problem in future to sell your property. It may devalue your property.

Sekar
Sekar
9 years ago

Dear Mr. Nitin,

I have taken home loan in 2004 and running currently. They didn’t provide me the acknowledgement for the list of original documents submitted. Unfortunately i dont know how to get it at that time. Is it possible to get the acknowledgement now from bank for my future safety. if so, please tell how to approach the bank OR should i have any other choices.

Thanks
Sekar

Nitin Bhatia
Nitin Bhatia
9 years ago
Reply to  Sekar

You can submit written request for ack of original documents. To cross check, you can also demand photocopy of original documents with the bank. Bank may charge nominal amount for same.

Mahesh Sahu
Mahesh Sahu
8 years ago
Reply to  Nitin Bhatia

Namste Mr. Nitin,

I have applied for ack for documents but it is told orally that they are not able to locate my files and they have already taken one and half month. Area manager of LIC housing is asking for one more week. I am not able to transfer my home loans to better option as i dont have list of documents.
I will be grateful for kind guidance.

Nitin Bhatia
Nitin Bhatia
8 years ago
Reply to  Mahesh Sahu

You can submit written request for copy of property documents and ack of all documents submitted. Wait for written revert from LICHFL.

Katyayan pandey
Katyayan pandey
8 years ago

Hi Nitin ji,

Thanks for your the valuable information shared with the public.The whole blog is really informative.

I have a similar but a bit different case wherein after the execution of sale deed , the acknowledgement receipt was kept by the bank(India bulls finance limited) as they had to collect the original documents from the sub registrar’s office. Mean while after after a month of registration, they told us that the sub-registrar is not giving the sale deed and it seems that the registrar has misplaced it. Also, the original acknowledgement receipt is with the bank. We also approached the sub registrar wherein he conceded that the our original copy of sale deed is not traceacle. Also, he gave us the true copy and gave us a letter stating that it is still under search.

Adding to that, the bank has sent us a loan recall letter after 8 months without taking any action on this issue for so many months stating that since we were supposed to submit the sale deed to them (inspite of having the original acknowledgement receipt with them), we are at fault and we should pay all the outstanding amount.

Kindly suggest what should we do.? Shall we send a legal notice to bank for negligence.

We have already submitted a written complaint to sub- registrar stating all this and taken a receiving from the bank.

Nitin Bhatia
Nitin Bhatia
8 years ago

It seems that Sub Registrar office is at fault. IndiaBulls is not at fault as they need original sale deed. You may file FIR against Sub Registrar office for loss of original sale deed. Submit the copy of FIR to IndiaBulls and request them to re-consider decision to recall loan as Sale Deed is lost by Sub-Registrar.

Katyayan pandey
Katyayan pandey
8 years ago
Reply to  Nitin Bhatia

Nitin ji,
Now india bulls is telling us to re regsiter the document in the name of my wife by taking a top up loan from them and be secured? Is it the right way? Shall we complain with the banking ombundsman?
Please suggest.

Nitin Bhatia
Nitin Bhatia
8 years ago

I will not suggest as it will not solve the core issue.

Prakathi
Prakathi
8 years ago

Hi Sir,
In 2014 Nov I have bought a flat through Home Loan near MUMBAI. After doing the registration of property in my name only we get to know that Mother Document is missing for that property, Due to that home Loan get cancelled. Since from 7 months I am pushing the Owner to do cancellation of deed and getting token advance (Registration Fees and token advance get refunded) that I paid. He is not responding to that. Now he rented that flat also. We pushed him a lot for doing cancellation of deed,he was telling within 10 days,every time by saying some execuses he is extending the cancellation.

but now he had sent one legal notice states that we have not given the balance amount to the Seller after doing registartion and asking as to do the settlement of remaing amount to take the possession of the Flat.Also while giving token advance we have signed a doucment ,that tells as if this transaction not happend within 15 days ,the amount paid will not be refunded.The seller is a very big Fraud.what we have to do next?please give suggestion.

Nitin Bhatia
Nitin Bhatia
8 years ago
Reply to  Prakathi

In my opinion, you have to take legal route only. As i have not seen documents therefore cannot comment but you can make “Suppression of Facts” i.e. missing mother document as key argument for cancellation deed.

prakathi
prakathi
8 years ago
Reply to  Nitin Bhatia

Thanks Nitin .It become nearly 10 months after doing registration.If am doing cancellation Is the Registration fee and stamp duty will get refunded ? state to state the rule is changing.let me know in Maharashtra ? is there any period for that ?

Nitin Bhatia
Nitin Bhatia
8 years ago
Reply to  prakathi

Stamp duty and registration charges are non-refundable. You can claim the same from seller on grounds of suppression of facts.

Vinod
Vinod
8 years ago

Hi Nitin,
I had the same problem with my bank, home loan was availed on my Mother’s Name. Once we cleared the loan and approached the bank for Documents the said the docs were lost/misplaced. We were provided with a Xerox copy of the docs by attesting the same with bank’s seal and were told that they are investigating and hunting for the originals…later the manager was transferred. We had to approach the new manager and raise our voice saying we will file an FIR against the Bank, we were asked to provide a week’s time. Within 4 days we were called and told that they found the documents that were misplaced.
I lost my mother few years back, we are 3 brothers & my Father. Now to get the documents from the bank should we present any kind of document stating that we are a family.
Please advise
thanks,
Vinod

Nitin Bhatia
Nitin Bhatia
8 years ago
Reply to  Vinod

You need succession certificate or probate to claim the documents.

Shaks
Shaks
8 years ago

Hi Nitin, I was processing the home loan from sbi and in that context submitted the original sale agreement to the bank. Now I have got the loan sanction letter but they have already misplaced my sale agreement and have not been able to give me a copy. I need to now go for sale deed registrar. What should I do ?

Nitin Bhatia
Nitin Bhatia
8 years ago
Reply to  Shaks

Just to check, have you received acknowledgement from SBI that they received your sale agreement in original.

Mathi
Mathi
8 years ago

Hi Nitin,

I’ve taken a home loan with Axis Bank in Jan’2013 and have closed the loan in Oct’2015. Upon closing this loan, I’ve received only part of the original documents from the bank.

I have bought an apartment as a re-sale(second sale) from the previous owner(Mr.X) and he has submitted Original Sale and Construction Agreement and Original Sale Deed(Executed between Mr.X and builder), to the bank on the day of registration. In addition to this document, they bank has also collected the original Sale Deed and Agreement of Sale documents executed between Mr.X and myslef. In total, we have given the following set of documents to the bank

1. Sale deed of Mr.X to the builder

2. Construction agreement of Mr.X to the builder

3. Sale deed between Mr.X and myself

4. Sale agreement between Mr.X and myself

Now, when I preclosed my home loan account, the bank has returned only #3 and #4 document to me. The bank is claiming that they have not received #1 and #2 documents. I don’t have any checklist showing the of documents collected by the bank. My question is two fold

1. What are the implications of not having document #1 and #2?

2. What should be the next steps I can take against the bank?

Thank you for your time in reviewing this and providing your feedback.

Nitin Bhatia
Nitin Bhatia
8 years ago
Reply to  Mathi

1. It has legal and financial implications. There are multiple possibilities. The documents can be misused. You will find it difficult to sell the property in future and it will de-value your property.

2. Unfortunately, if you don’t have any proof that you submitted originals with the bank then nothing much can be done. At the same time, a home loan cannot be approved without these documents then you can ask bank how they approved home loan without these documents. Secondly, you can file a case against bank to pull out details which may not be shared by the bank. Your lawyer can ask for bank records on legal verification and records of centralized locker where the documents were stored. It can be proved that documents are lost by the bank.

Charanjit Reddy
Charanjit Reddy
8 years ago

sir can u quote the article or clause where it clealy mentions that the bank has to borne all the espenses in getting the duplicate certificate from the registrar??AS my bank lost original docuents and forcing me to apply for all the docuents myself and not even agreeing to pay the charges that I wil incurr to apply for the duplicate documents..I want to show them the law ..

Nitin Bhatia
Nitin Bhatia
8 years ago

There is no law but you can check the bank’s policy in this regard. As a standard policy, all banks bear the cost/expense in this regard. Please check the compensation policy of SBI through following link. It clearly mention that bank will cover out of pocket expenses for obtaining duplicate documents. Refer to point no 4.15

https://www.sbi.co.in/portal/web/customer-care/compensation-policy

Charanjit Reddy
Charanjit Reddy
8 years ago

Thx u very much sir

Dipak kumar
Dipak kumar
8 years ago

hello sir,
i m Dipak.
I inquired with one lawyer of consumer court and he told me that better to file a case in CITY CIVIL COURT instead of CONSUMER COURT because consumer court have limited powers. e.g. it dose not consider ‘future loss’ while granting compensation. is this true?

Nitin Bhatia
Nitin Bhatia
8 years ago
Reply to  Dipak kumar

In my opinion it is trap from lawyers. They want case to drag for long so that they can make more money. Consumer forum decide the case within 3 months. In my opinion first you should approach consumer forum. Depending on decision of consumer forum you will always have an option to approach civil court in future.

The future loss is always considered by consumer forum to decide the compensation. As i shared in my comments that in some cases my clients received compensation equivalent to fair market value of the property.

Dipak
Dipak
8 years ago
Reply to  Nitin Bhatia

Thank You Sir for prompt reply.

But that lawyer himself take only consumer court cases. Even then he adviced me to go to some other layer (name he didnt suggest) who take civil court cases.

Nitin Bhatia
Nitin Bhatia
8 years ago
Reply to  Dipak

As i have not checked all the documents therefore i can only comment based on short info provided by the readers. You may consult a lawyer to decide future course of action. My opinion still remains the same as i shared in my previous comment.

Dipak
Dipak
8 years ago
Reply to  Nitin Bhatia

sir, can i have your phone number? can u take my case? or can u suggest any good lawyer in AHMEDABAD? My mobile number is-09879215847. thank you.

Nitin Bhatia
Nitin Bhatia
8 years ago
Reply to  Dipak

I am not a lawyer by profession. We do not provide references.

Dipak kumar
Dipak kumar
8 years ago
Reply to  Nitin Bhatia

sir, Following are some queries.

1.Can we file a criminal case (Breech of trust) against the home loan provider company(Tata capital housing finance pvt ltd.) for loss/Misplacement of our original sale deed?
2.Tata capital have also given a police complaint by submitting an AFFIDAVIT to police. But in that affidavit they have mis-spelled my wife’s name (Co-owner of the property). so i insisted them to do new affidavit with correct name. but they told me that instead of doing new affidavit they will give a stamp undertaking mentioning correct name. Any clue, Why they are hesitant in creating a new affidavit?
3. They have also give News paper publications with same mistake (Wrong name). they are ready to give new publication. but not ready to do new affidavit. Why? any idea?
4. They also told me that FIR cant be lodged in case of loss of documents (This is what told to them by police ). so they only lodged a formal complain and not an FIR. Is this true sir?

Please help. Thank u in anticipation.

Nitin Bhatia
Nitin Bhatia
8 years ago
Reply to  Dipak kumar

You can book a telephonic consultation through following link

https://www.nitinbhatia.in/telephonic-consultation/

Amit Kumar
Amit Kumar
8 years ago

Hi Nitin,

I took Home loan from HDFC on january 2013.

Now when i am asking for the list of the document with HDFC bank.(Home loan transfer from HDFC to SBI bank)

They have provided the list of document but one of the original TM(Transfer Manorandum) is missing from list.

When i am asking them, they are saying that you have not submitted this.

This is really strange, I am aware that this document is with bank but they are denying.

How to procceed further please guide us.

Nitin Bhatia
Nitin Bhatia
8 years ago
Reply to  Amit Kumar

Unfortunately, you don’t have any proof that you submitted original TM with HDFC. Therefore, you declare it as LOST from your end. File police FIR and apply for certified copy of the same.

Gokul Sairam
Gokul Sairam
8 years ago

Hi Nitin,

My Dad took a housing loan from IOB and the loan was closed on April 2015.. Now when asking for the original documents, the bank initially told misplaced and they are in search of it. Later, upon after two months they could not find it and they suspect it to be lost. We have requested for the letter from bank stating that the original deeds has been lost by bank.. But, till now the bank is saying that they are working on it and are not giving the letter that they have lost the same. They have just given only one letter to us mentioning that they are in search of the misplaced documents and they are responsible for it. Also,till now, they have not filed FIR or informed the registrar office that the documents was lost by them. Kindly suggest/advise how to take this further.

Thanks, Gokul

Nitin Bhatia
Nitin Bhatia
8 years ago
Reply to  Gokul Sairam

I suggest you to file FIR against bank as a first step and submit copy with the bank. You can also file a case in consumer to claim compensation.

Gokul Sairam
Gokul Sairam
8 years ago
Reply to  Nitin Bhatia

Thank you for timely response !!

Gokul Sairam
Gokul Sairam
8 years ago
Reply to  Nitin Bhatia

Hi Nitin, The bank has agreed to take full responsibility of obtaining certified copies from SRO. They also told they will give indemnity bond. They told even they will take care of expenses, if the property has to be changed to either mom’s name or under my name. My doubt is, after changing the property to others name.. Will it be still considered to be original. Will the land value be decreased because of this? Will there be any other issues while selling or mortgage again? Please advise..

Gokul Sairam
Gokul Sairam
8 years ago
Reply to  Nitin Bhatia

Hi Nitin, The bank has agreed to take full responsibility of obtaining certified copies from SRO. They also told they will give indemnity bond. They told even they will take care of expenses, if the property has to be changed to either mom’s name or under my name. My doubt is, after changing the property to others name.. Will it be still considered to be original. Will the land value be decreased because of this? Will there be any other issues while selling or mortgage again? Please advise..

Nitin Bhatia
Nitin Bhatia
8 years ago
Reply to  Gokul Sairam

Normally property value is devalued by 20% to 30% and you may find difficult to sell. As i shared in my post, you should seek compensation from bank. Bank is not doing any favor to you by obtaining certified copies or bearing other expenses. I suggest to follow steps as i shared in my post.

Gokul Sairam
Gokul Sairam
8 years ago
Reply to  Nitin Bhatia

Hi nithin, what’s the procedure for obtaining compensation from bank?

Gokul Sairam
Gokul Sairam
8 years ago
Reply to  Nitin Bhatia

Will any bank give loan in future based on certified copies of sale deed?

Gokul Sairam
Gokul Sairam
8 years ago
Reply to  Nitin Bhatia

Does settlement deed is valid and equal to mother deed in case mother deed is lost?

Gokul Sairam
Gokul Sairam
8 years ago
Reply to  Nitin Bhatia

Hi Nitin, our original sale deed was lost by bank. We have certified copies in hand. Now if my dad gives the property as “settlement deed” under my name.. will that be considered as an equal important document as mother deed. Will there be any problem at the time of re-sale?

Gokul Sairam
Gokul Sairam
8 years ago
Reply to  Nitin Bhatia

To add to my previous note.. we have non traceable certificate from police, paper publications, Affidavit from bank that they have lost, indemnity from bank.. bank is bearing expenses for preparing the “settlement deed” in case required.. my query is will the settlement deed is equal to mother deed.. in this case mother deed was lost by bank. We are going to prepare settlement deed based on certified copies. Once that settlement deed is done, will there by any issues in time of selling the property to third person. ? Kindly clarify..

Pavan Nittala
Pavan Nittala
8 years ago

Hi Nitin,

I took a Housing loan from SBI in 2009 and cleared the Same in 2016 When I went to collect the original documents, I found that the bank misplaced the Original Sale Deed (Rest all documents in place) . In this case, even though I have submitted the Sale Deed to the bank, I don’t have the proof / acknowledgement that I have submitted the same . Under the rule, the bank should ideally create an Equitable Mortgage Document but they did not do that . Neither the bank followed any formal procedure while issuing the loan as my wife was staff in that branch .

After a month, the bank says they are still searching for the documents .

Let me know what should be done .

Nitin Bhatia
Nitin Bhatia
8 years ago
Reply to  Pavan Nittala

You should not accept any documents from bank and submit written complaint. Also file police FIR against the bank for lost sale deed and submit copy with bank. I have shared other steps in my post.

Padma
Padma
8 years ago

Hi Nitin,

I took a housing loan from HDFC bank for a property in 2011. The sale was done through a GPA and the bank didn’t collect the original GPA from the previous owner after registering it to my name. I have a copy of the GPA which is specific to the property I purchased.

Now there is no original of the GPA with me or bank based on which the sale happened and a possible buyer for the property is asking for that. Was it responsibility of the bank to collect the document or is it solely my responsibility to make sure GPA original was collected.

What could I do now?

Bank and few others says the GPA copy even if there is a seal from the registrar on it, cannot be retrieved from the register office.

I owe to the bank still and the loan closure is not done yet.

Thanks!

Nitin Bhatia
Nitin Bhatia
8 years ago
Reply to  Padma

To collect originals is buyer’s responsibility. HDFC may not require all originals but as a buyer, you should have all the originals. You may try to locate the seller or declare GPA as lost from your end.

Himanshu Kumar Singh
Himanshu Kumar Singh
8 years ago

Hi Nitin,

Thanks for this post. Its quite informative. Actually I am myself going through the hassle of lost property papers and need a suggestion from you. I took a home loan from LICHFL in 2012 for a property in Indirapuram. After two years of regularly paying the EMIs and some repayment, I discovered in August 2014 that the bank has lost all my original property papers. After pursuing them for 4-5 months, they arranged to take out certified true copy of the papers from the registrar office, two newspaper ads and a police complaint for the lost originals.

But I decided to consult a lawyer and have filed a case in the State Consumer Forum in Lucknow. The court admitted the case and sent notices to LICHFL but they are not replying. There have been six hearing dates till now and more that 1 year has lapsed, but LICHFL has surprisingly not replied at all. The seventh hearing date is due in March 2016. My lawyer says that we need to give LICHFL some more time before sending summon to them. I am a non-legal person and quite perplexed, what will happen next?

Why LICHFL is not replying and how many hearing dates will be there before the judge finally decides to pass the judgement. I have been paying EMIs honestly all through this period.

Please suggest. Thanks.

Nitin Bhatia
Nitin Bhatia
8 years ago

Normally, in such cases consumer forum deliver the judgement after 3-4 hearings. It seems your lawyer also want to delay the case for obvious reasons. He would like to take it in civil court. You can fight your own case and request consumer forum to deliver judgement in next hearing. I will not suggest to take it to civil court as it may take years.

Gaurav Saxena
Gaurav Saxena
8 years ago

Hi nitin,I am suffering from the same as LlC HFL has lost my complete registry papers.Thanks for ur detailed list of actions now.Kindly suggest,Basis duplicate certified copy from registrar, can v take HL from financers and sell my property?
Thanks
Gaurav

Nitin Bhatia
Nitin Bhatia
8 years ago
Reply to  Gaurav Saxena

Yes but property is devalued. I am assuming all the steps mentioned by me are followed.

Gaurav Saxena
Gaurav Saxena
8 years ago
Reply to  Nitin Bhatia

Thanks nitin.

Armando Dsouza
Armando Dsouza
8 years ago

Hi Nitin, I need your guidance on home loan from LICHFL, they are not giving me the list of documents as they are not able to find the sale deed, I had paid for it on 4th Nov 2015. I have sent emails and also visited the offices 3 times. They are still searching for it. I have applied for SBI loan. Will true copy of sale deed and sale deed ack copy work for the transfer?. Also any procedure to be followed as it seems too a risk. They are currently charging 11.20 interest which is too high. Let me know how to go about this. Thank you Nitin..

Nitin Bhatia
Nitin Bhatia
8 years ago
Reply to  Armando Dsouza

I suggest you to go through the steps as i shared in my post. Loss of original documents means devaluation of property therefore you can claim compensation from LICHFL. SBI will not accept true copy till the original sale deed is declared lost.

Armando Dsouza
Armando Dsouza
8 years ago
Reply to  Nitin Bhatia

Thank you Nitin

Dharmender Purohit
Dharmender Purohit
8 years ago

Sub : Original Sale Deed Not received

Sir, My self Dharmender Purohit have taken three loan from ICICI Bank

1. ICICI Application Number – 842538 – DEL000360862 of the amount Rs 3,50,000/-

2. ICICI Application Number – 777204490 – LBDEL000006000840 of the amount Rs 4,00,000/-

3. ICICI Application Number – 77755861 –LBGUR00001250670 of the amount Rs 7,94,223/-

I have been paid all above mention loans but still i didn’t receive my original Sale Deed (Registry) of my Home. I have submitted a written complaint on dated 04/01/2016 at your ICICI, Sector –14, Gurgaon (HR) but still unable to get any response from your side.

So this is my humble request that please provide my papers ASAP.

Yours

Dharmender Purohit

Nitin Bhatia
Nitin Bhatia
8 years ago

You may raise proper complaint in writing or through helpline no and then escalate if there is no action from bank’s end. Also request that kindly do not share any personal info on public forums. I have deleted your application details to maintain privacy. Thanks.

stopsearchgroup@yahoo.in
stopsearchgroup@yahoo.in
8 years ago

Dear sir,
I have taken loan from LICHF in 2000.due to some misdeed by bank whatever amount i have paid to bank they kept in suspense account.and my property became NPA and case is going in DRT.now i have purchaser for my flat when went to bank for document to settle the dues,i found they lost original agreement.can i go to consumer forum and demand the dameges.
Kk

Nitin Bhatia
Nitin Bhatia
8 years ago

You may approach consumer forum to claim damages.

Dheeraj Thakur
Dheeraj Thakur
8 years ago

Dear Nitin,
Greetings for the day. This is Dr. Dheeraj Thakur here. I have recently read your blogs and was impressed with your domain knowledge which has been helping many customers. Well, I am also in need of your expert advice and hence writing you this communication. Here are details of my case.
I had taken Home Loan from Axis Bank Sahkarnagar Branch in Bangalore in 2012. I repaid the entire loan by 5-Jan-2015. Since, I was outside the country, I had requested the bank to handover my property documents in Aug-2015 as that is when I was visiting Bangalore. However, due to some poor understanding from bank side, I could not collect my documents in Aug-2015 in Bangalore. I therefore requested the Bank to send these documents to some Loan Center near Delhi as I had changed my job and was no more staying in Bangalore, to which Bank agreed. Well, I started pursuing this little more seriously in Nov 2015 as I had not heard any update from bank in last few months. Bank then said I will receive my documents by 31-Dec-2015, but without success. With consistent follow ups, bank kept giving me future dates such as by 6-Feb-16 then by 31-March-16 but never delivered their promise. Finally, I got one communication recently on 6 April 2016 saying that your documents have been received in Sahkarnagar branch, come and collect them. I got furious as after 7 months delay, they are still asking me to come to Bangalore and I finally wrote to their Nodal Officer about all this. The Nodal officer called me yesterday evening and first asked my confirmation about sending the docuents to Delhi Loan Center which I gave as that is what I had been requesting. He then explained me the reason for delay and gave me the big shock by telling that your original documents were not traceable. However, he told that bank has recreated these documents by following due process of filing FIR, Notification in News Papers, No due from advocate etc. I asked him to send me the written communication in this regard which he has done and admitted the above. So all in all, it seems, bank had lost my original documents and were buying time to recreate this by following the due process and continuously lying to me that I will receive them soon. I immediately wrote to Nodal Officer, Principal Nodal Officer and customer care that I will not accept any duplicate or recreated copies. I will only accept my Original Property documents so don’t send any document anywhere. Now for the above case, I have the following specific queries where I need your help.

1. As bank has already filed FIR, do I also, being the owner, need to file a separate FIR. If yes, where, in Bangalore or my current residence in Delhi.
2. Same thing with Paper Notifications, do I also need to give that.
3. As my property has devalued, I have decided to go to consumer court. Please comment on the following
3a. Is the case strong enough to go to consumer court. How much chances of me winning the case.
3b. As I can not visit Bangalore, can I file case in Delhi Consumer Court (National Consumer Commission). Someone told me that if property value is more than one crore, then only case can be filed in National commission. For lower value, you have to file in the State commission. Please clarify.
3c. From where will I find the current value of my property. Will court accept the data available in open market or it has to come from some Govt. Body.
3d. How long the case can maximum go. I am afraid to waste years for this.
3e. Lets say I win the case and bank is asked to pay the compensation. Will bank pay the full current property value and then become its owner or I will get some compensation and I only will continue to remain its sole owner.
4. To avoid issues in future sale of my house, can I just sell this house to my wife and get it registered in her name. What will be good and bad of doing this. Will the property still be devalued.
5. Any past data where consumer got satisfactory justice involving Axis Bank in such cases.

Dear Nitin, it has become a lengthy email. But I hope you can understand the stress through which customer will be going and hence will have many queries that need clarity. So please take out some time and help me.
Thanks
Regards
Dheeraj Thakur

Nitin Bhatia
Nitin Bhatia
8 years ago
Reply to  Dheeraj Thakur

1. You should file FIR against bank in Bangalore.
2. No
3A. Case is strong but you need to check how the documents were lost by the bank
3B. You have to file case of consumer forum in Bangalore. You can hire a lawyer if you cannot travel.
3C. You may hire property valuer
3D. It is subjective but normally judgement is delivered in 3 months
3E. Only compensation. You are still owner of property
4. Property will be devalued. You need to check whether bank has followed proper process or not.
5. Each case is diff. There is no standard rules.

Dheeraj Thakur
Dheeraj Thakur
8 years ago
Reply to  Nitin Bhatia

Dear Nitin,
Thank you very much for your reply. May I request you to please help me further with the following queries.
1. The bank documents say the property value is 43 lacs. I had also taken loan of Rs 4 lacs from the same bank for the furniture. So in 2012 itself, the property value was 47 lacs. Now if maximum compensation that I can ask is twice the current property value, the total compensation including mental harassment will cross Rs 1 crore. So in this case, cannot I file a case in National Consumer Court. Please recommend the best place where I should file this case ( state or national consumer court, though Delhi would be my best preference).
2. Can it happen so that after some scrutiny, national court can ask me to go to the state court. In that case, it will be wastage of time and money for me. So please suggest the best option where I should file this case.
3. How can I find about ” how the documents were lost by the bank”. Will they explain me this.
4. As you mentioned, I am going to file FIR against bank. Is there any other formality that I need to do.
5. How will I check if the property is still in my name and no further fraud has happened on it. Please suggest.
6. Is there any formality that I need to complete before going to court, e.g. giving notice to bank, giving them time to search for my original paper etc.
7. Please advice the detail process of filing case in consumer court.
8. What all documents and supporting material I need to collect before going for filing the case.
9. Is it possible to call you and discuss further. Please give appointment or share your contact details.
Thanks
Regards
Dheeraj

Nitin Bhatia
Nitin Bhatia
8 years ago
Reply to  Dheeraj Thakur

The queries shared by you are covered under paid consultation. You can book phone consultation through following link
https://www.nitinbhatia.in/telephonic-consultation/

Dheeraj Thakur
Dheeraj Thakur
8 years ago
Reply to  Nitin Bhatia

Dear Nitin,
Thanks for your reply. I have drafted the following specific queries. I request you to please address these specific points first during our telephonic meet.

1. Do I need to approach Banking Ombudsperson before going to consumer court?

2. Property value is 55 Lacs (current market trend). Now if maximum compensation that I can ask is twice the current property value, the total compensation including mental harassment (of Rs. 25 Lacs) will cross Rs. 1 crore. So should I approach National Consumer Court or State Consumer Court?

3. Should I get my property evaluated from a certified evaluator and use that as the proof for current property value and hence the compensation?

4. What documents/information do I need to collect from Axis Bank for filing the case in consumer court?

5. What other relevant documents and supporting material (such as email exchanges, etc.) I need to collect before going for filing the case?

6. In addition to filing FIR against bank, what other formalities should I complete to make a strong case for consumer court?

7. Do I need to give notice and time to Bank to search for my original property documents before filing the case?

8. Do I need a special lawyer who deals with consumer court cases only or a regular lawyer from Supreme Court would be better as a relative of my friend is lawyer in Supreme Court and is willing to fight my case? Please comment?

9. How can I minimize my property devaluation? Shall I transfer this to my wife name under gift deed? Please suggest the best way out?

10. What steps should I take to safeguard my property and avoid any fraud on this?

11. How will I check if the property is still in my name?

12. The documents are now sent to other Loan center in Delhi on my previous requests. Should I just deal with the original loan branch in Bangalore or with the current branch in Delhi also?

13. Any other advice to strengthen the case and safeguarding my property

14. Please advise the detail process of filing case in consumer court.

Nitin Bhatia
Nitin Bhatia
8 years ago
Reply to  Dheeraj Thakur

We discussed in detail over phone consultation. Hope all your queries are answered.

Gokul Sairam
Gokul Sairam
8 years ago

Sir, we have mortgage our sale deed in bank. Now bank has misplaced the document. They told they will give certified copies along with non traceable certificate, paper publications and indemnity. Now we are thinking to make settlement deed within family once after receiving all the necessary documents from bank. My question is , 1. Will this settlement deed equivalent to mother deed?
2. Will there be an issue during selling of property using settlement deed?
3. In future, if we require loan will any bank issue loan based on settlement deed?
4. How to claim compensation from Bank?

Nitin Bhatia
Nitin Bhatia
8 years ago
Reply to  Gokul Sairam

1. No
2. The is issue lost original sale deed. It devalues the property. You should claim compensation from bank for deficiency in service.

3. I will not suggest execution of settlement deed. It is not required
4. With or without settlement deed, the property value is devalued.
5. File a case in consumer court. Please go through my post on this web page.

Sureshrahavan
Sureshrahavan
8 years ago

Sir, The below narrated incident related to one of my close friend. He has availed for a Home Loan fifteen years back in his name in a private sector bank and the emi’s are being paid by his ex-wife till its completition. When he approached the bank last year for the documents, bank said the documents had been handedover; but they are not confirming as to whom the same was given. He has 17 year old boy and for his safety he wish to hand over the docs once he becomes major i.e., in one years time from now. He and his ex-wife are seperated 10 years back but not legally seperated. In such cases, i need your guidance on how to proceed further. His intention of getting the property docs is to hand over to his son for his future. Will there be any legal issues, as emi’s are being paid by her. Kindly request your guidance and support.

Nitin Bhatia
Nitin Bhatia
7 years ago
Reply to  Sureshrahavan

You have not mentioned who is the owner of the property i.e he is only only owner or the property is in joint name.

ashii
ashii
7 years ago

Bank ask for “Loan Tri Party agreement” letter which is to be signed by builder,Buyer, Bank in a under construction property.

I handed over 3 copies signed by builder and me to Bank, Bank was suppose to return
1 copy to me and 1 to builder after counter sign by bank but they never did this actually.

now the property possession has been taken over and registry (agreement with Noida Authority as lessor, me as sublessee and builder as Lessee) with stamp duty paid has been executed. Noida authority issued Completion certificate as well which I obtained using RTI.

I have received LOD from bank mentioning this :
1)Registry by Noida – original
2)Buyer builder aggreement/allotment letter – original
3)Noc from builder etc – original
4)Post dated cheques
5)Payment receipts etc – original
6)Permission of mortgagee – original

my query is if absent of my copy of “Loan Tri Party agreement” will create any problem to me in future when I resale the property or close the loan?

Nitin Bhatia
Nitin Bhatia
7 years ago
Reply to  ashii

You should have a copy of home loan tri-party agreement.

rajender
rajender
7 years ago

Hi.
We have taken Home Loan from SBI which has become NPA and got transferred to ARCIL.Now,10 days back,we closed the loan by paying remaining outstanding amount in lump sum to ARCIL.While taking the original documents from ARCIL,we found out that one page is missing.My queries are

1.For step 3,do we need to make written complaint with the bank or ARCIL?
2. For step 4, do we need to register police complaint against bank or ARCIL or both ?
3.As of now,we are interfacing with ARCIL only.So, can we follow all the above steps with ARCIL only ?

Kindly help.

Nitin Bhatia
Nitin Bhatia
7 years ago
Reply to  rajender

You have not mentioned when you found the page of the document is missing i.e. at the time of receipt of documents or at later stage. Ideally, you should not have accepted the document with missing page. Also have you mentioned about missing page on the acknowledgement signed by you.

rajender
rajender
7 years ago
Reply to  Nitin Bhatia

We have not accepted the documents from ARCIL when we found out that one page is missing and we haven’t signed any acknowledgement, instead we wrote a written complaint saying a page is missing and handed it to ARCIL.Now,originals documents are with ARCIL only.We are awaiting reply to that written compliant from ARCIL.

Nitin Bhatia
Nitin Bhatia
7 years ago
Reply to  rajender

You can also file police FIR as i suggested in my post and wait for the response.

rajender
rajender
7 years ago
Reply to  Nitin Bhatia

do i need to register FIR against bank or ARCIL or both included?

Nitin Bhatia
Nitin Bhatia
7 years ago
Reply to  rajender

ARCIL and Bank both as you don’t know who is responsible for the same.

Paresh sharma
Paresh sharma
7 years ago

How much compensation will be provided by bank as the price of property is more then 10 times of the price purchased and I also want to sell the property.

Nitin Bhatia
Nitin Bhatia
7 years ago
Reply to  Paresh sharma

It is subjective and depend on the extent of loss due to misplaced documents. Also how well you or your lawyer present your case. The compensation will be high if you prove negligence from bank’s end.

Dilip Shastry
Dilip Shastry
7 years ago
Reply to  Nitin Bhatia

While the case is up in court of law…. can we sell the property ?

Nitin Bhatia
Nitin Bhatia
7 years ago
Reply to  Dilip Shastry

You have not mentioned the reason for court case.

Dilip Shastry
Dilip Shastry
7 years ago
Reply to  Nitin Bhatia

Sir, misplaced original documents by bank, we follow the said above procedure and file a case against bank in consumer court for compensation
1. If, The land value is around 1.5 crores, how much can be claimed and how much can be rewarded…?? What will be aprrox time for them to reward the compensation amount
2. During this compensation case in consumer court can i be able to sell my property..??

thanking you
dilip

Nitin Bhatia
Nitin Bhatia
7 years ago
Reply to  Dilip Shastry

1. It is subjective and depends on the consumer forum. Also how effectively you can convince on the devaluation of the property.
2.You can sell but i will not suggest as it will weaken your case.

Dilip Shastry
Dilip Shastry
7 years ago
Reply to  Nitin Bhatia

thank you sir…. :)

Anirudha
Anirudha
7 years ago

I received original documents by bank yesterday I signed acknowledgement already.Today I realized that 1 original payment receipt made to builder is missing.builder has given me acknowledgement copy signed by lic housing finance.but the same receipt is missing.what can I do now?

Nitin Bhatia
Nitin Bhatia
7 years ago
Reply to  Anirudha

Unfortunately nothing much can be done. You cannot prove that it lost by the bank.

Vinod
Vinod
7 years ago

SBI asks to submit all original documents including title deed along with housing loan application in the branch office. They told me that they can’t process my application without submitting original documents. So, should I receive acknowledgement for the same? If yes, any specific format for the same? or Just an acknowledgement specifying document names in bank letterhead is enough?

Nitin Bhatia
Nitin Bhatia
7 years ago
Reply to  Vinod

You should ask for acknowledgement on the letter head of the SBI against all the original documents to be submitted with the bank. The letter will acknowledge the receipt. The bank employee should put a seal, his/her name, employee code and date on the acknowledgement.

Jinu Aj
Jinu Aj
7 years ago

Hi

We have taken loan from SBI and documents were missed by Bank. Is it mandatory to Publish in Newspapers to avail duplicate documents? And who should do this process?

Thanks.

Nitin Bhatia
Nitin Bhatia
7 years ago
Reply to  Jinu Aj

Yes. As i mentioned it is mandatory to publish public notice in 2 newspapers. The entire process will be completed by the SBI and SBI will bear the cost.

Jinu Aj
Jinu Aj
7 years ago
Reply to  Nitin Bhatia

Thank you sir… Here bank is not ready to pay news paper publication charges. To whom we have to contact, how to approach consumer court?

Nitin Bhatia
Nitin Bhatia
7 years ago
Reply to  Jinu Aj

It is bank’s fault and bank has to inform the general public..How can u inform on bank’s behalf?

If bank is not agreeing then please approach consumer court. You can file consumer court complaint on your own. If you are not comfortable then you can hire a consumer court lawyer.

Gaurav Ahluwalia
Gaurav Ahluwalia
7 years ago

Dear Sir,

1. I purchased an Immovable Residential Property (Plot) in one of the class – I city of Uttar Pradesh, through E-auction from a Bank (PSU) for an amount of Rs 120 Lacs.

2. At the time of Transfer & Registry of said property, bank informed me about loss of some of the important original documents of the property.

3. In the meanwhile, on the basis of available documents of the said property with the auctioning bank, I applied for loan with one of the branch of the same bank but that branch (of same bank) did not sanction / give loan to me, in the absence of all / complete original documents of the said property.

4. But in my opinion, bank was not in physical possession of required important documents of said property because they never replied to my RTI’s also on this subject (regarding property documents).

5. Bank, then filed FIR with Police about loss of some of the important documents. Afterwards, auctioning bank applied for Duplicate documents and obtained also from concerned U.P Govt. Office.

6. On the basis of Duplicate documents, bank applied for Transfer of said property in my name, after Transfer charges were paid by me.

7. But here also i.e. in concerned U.P Govt. Office, it was noticed that said property is already mortgaged in the charge / name of other bank.

8. Now, since the day of E-auction and till date, i.e. almost 300 days ( 10 months) have passed, Auctioning Bank could not get the said property transferred in my name.

9. As a result of all this, I suffered huge financial losses and physically also, because I could not use the property, the way I wanted to. Presently I am residing in a rented accommodation & paying a rent of Rs 25000/= pm.

10. Moreover said property is lying vacant since then. I have physical possession of the said property. As per govt guidelines, I cannot do any alteration, addition, deletion & new construction etc in the absence of Clear Title / Registry in my name.

Now I request you to guide / advise me further course of action (with which all agencies / offices / authorities) for the following :-

A. Can a bank (PSU) auction any property without having physical possession of all the Original documents of that property?

B. Is this not the responsibility & duty of auctioning bank to get the transfer and registry done in my name?

C. What is the time limit for a bank to get transfer & registry done in my name after receipt of full & final bid amount?

D. How, when & in what manner bank should compensate me for huge financial losses & physically, mental tension, harassment & torture suffered during the last almost 300 days ( 10 Months)?

E. Any other action / point of concern, legally or otherwise, needs to be addressed from my side?

Waiting for your valuable advise / guidance to overcome this problem.

Regards,

RUFUS KUMAR
RUFUS KUMAR
7 years ago

Hi

I took Home loan and interior loan from LICHFL in 2015 October and I have closed both the loans in Novemeber 2016. LICHFL has my list of documents as ‘SALE DEED’, ‘SALE AGREEMENT’ and ‘CONSTRUCTION AGREEMENT’ and ‘EC’. They gave me the date to collect the documents on 6th December 2016, But when I check they had only ‘SALE DEED’ and they misplaced my SALE Agreement, CONSTRUCTION Agreement and EC originals and they could not find it. Now my question is
1. since I have original SALE DEED with them can I collect the same?
2. How important is the other documents like SALE And CONSTRUCTION Agreements?
3. If I want to Sell the property only SALE DEED is enough? or Should i produce the SALE AND CONSTRUCTION Agreements as well?

Please suggest. Thanks

RUFUS KUMAR
RUFUS KUMAR
7 years ago

Hi

I took Home loan and interior loan from LICHFL in 2015 October and I have closed both the loans in Novemeber 2016. LICHFL has my list of documents as ‘SALE DEED’, ‘SALE AGREEMENT’ and ‘CONSTRUCTION AGREEMENT’ and ‘EC’. They gave me the date to collect the documents on 6th December 2016, But when I check they had only ‘SALE DEED’ and they misplaced my SALE Agreement, CONSTRUCTION Agreement and EC originals and they could not find it. Now my question is
1. since I have original SALE DEED with them can I collect the same?
2. How important is the other documents like SALE And CONSTRUCTION Agreements?
3. If I want to Sell the property only SALE DEED is enough? or Should i produce the SALE AND CONSTRUCTION Agreements as well?

Please suggest. Thanks

Nitin Bhatia
Nitin Bhatia
7 years ago
Reply to  RUFUS KUMAR

1. I will not suggest as other original documents are LOST
2. All original documents are imp
3. I suggest you to go through my post and follow the applicable steps. Also claim compensation from LICHFL as loss of original documents devalue the property.

Sandeep Bansal Adv
Sandeep Bansal Adv
7 years ago

Sir,uco bank lost a original sale deed in a loan.At the time of second loan of that party against the 2nd one property bank take a affidavid in writing from party for not ask that 1st sale deed of which was mortgage in a housing loan and some remaining loan amount of that first loan was clear by the 2nd loan amount.Bt that note was taken by forcefully at the time of new finance.What should do now.

Nitin Bhatia
Nitin Bhatia
7 years ago

The affidavit has NO legal value. A bank cannot force borrower to sign such affidavits. It is legal right of borrower to demand original sale deed submitted with the bank.

MOHAN RAM
MOHAN RAM
7 years ago

Sir,
My wife took a loan of Rs. 100000 under PMRY from SBH Bangalore during 2002-03 against original marks cards of 10th, I & II PUC, Degree Certificate and PG Certificate. The loan was expected to be closed by 2007-08. However, it got delayed and the loan account was written off by the Bank during 2009 itself. Then my wife visited the Bank and closed the account by paying the entire amount due along with up to date interest during August 2016. The Bank could not find the original documents and asked us some time. but till today they could not find the documents. However they have issued a certificate on the Bank’s letter head with sign and seal of the AGM mentioning all these details. My question is
1. shall I demand refund of the final amount of Rs.68000 along with interest till date?
2. Shall I lodge complaint with Bank’s ombudsman against the Bank
3. Shall I claim compensation and if yes, how much
4. may I please be know further poceedure in this regard

Thank you sir
Mohan

Nitin Bhatia
Nitin Bhatia
7 years ago
Reply to  MOHAN RAM

1. Repayment of loan and loss of original documents are two different points. Therefore, any demand from your end is not justified. You should be more concerned about loss of original documents.
2. You can complain but in my opinion you should approach consumer forum and claim compensation.
3. Answered in point no 2
4. It seems bank has not not followed proper procedure to declare loss of original documents. The process is same as loss of property documents. You may go through my post and request bank to follow the proper process.

MOHAN RAM
MOHAN RAM
7 years ago
Reply to  Nitin Bhatia

Thank you very much sir, I will follow your advise.

krishna
krishna
7 years ago

hi Sir,

I have applied for loan transfer with HDFC and my existing loan is in Axis bank. I have closed the loan in Axis bank and now realized that Axis bank has misplaced the last 2 pages of the Saledeed i.e., KYC forms like ID cards. They insisted me to collect the rest of the documents while they find the lost 2 pages. I refused to accept the documents. As i have gone through your steps, i found it’s a long process. Shall i insist Axis bank to perform all the steps and give me the copies from registrar office? Will it devalue my property? Do i need to report in consumer forum? Is it true that since the last 2 pages are of KYC, they have no much value?

Thank you so much.

Nitin Bhatia
Nitin Bhatia
7 years ago
Reply to  krishna

Please let me know the specific documents lost.

Nitin Bhatia
Nitin Bhatia
7 years ago

Unfortunately, under terms and conditions of the bank max compensation declared by the bank is Rs 5,000/= only. In my opinion, you can approach consumer forum to claim compensation. The compensation can be as high as 100% but depends on the case to case basis.

sharad sontakke
sharad sontakke
7 years ago

Sir,

my earlier loan was with Tata capital & now i transfered the loan to HDFC.
HDFC disburs the loan amount. Tata capital given me the incomplete documents, Index 2 and Registration Receipt. Tata capital is saying we have handed over all documents to you because i have signed the document received copy. This come to know when handing over the documents to HDFC.
Now HDFC is asking me to give Index 2 and Registration Receipt or they take legal action.

please help me in this situation.

Nitin Bhatia
Nitin Bhatia
7 years ago

Unfortunately nothing much can be done as you signed and acknowledged that you received all the documents from Tata Capital.

The only solution is that you can declare that you have lost these 2 documents i.e. Index 2 and Registration Receipt.

Vinayak Mulgund
Vinayak Mulgund
7 years ago

Hello Nitin,

I have recently done Balance transfer from AU Housing Finance to ICICI Bank Ltd. However after all the process was done, it was time for collecting the original documents from AU Housing Finance Ltd.
After going through the documents, i discovered that the AU Finance had lost the sanction plan document which is issued by municipal corporation (N.A. Plot Blueprint). I collected my remaining documents and gave a written complaint to handover my original sanction plan alongwith the acknowledgment letter.

What should i do in this matter now? Shall i write to RBI Ombudsman and file complaint at consumer court?

Also i am having my original documents with me as of now which i haven’t submitted to ICICI Bank yet. Is it okay if i keep the documents with me. I have not received any call from ICICI bank asking me to handover documents against my loan.

I had already submitted undertaking to ICICI bank regarding documents available with me.

Will there be any charges if not submitted or at the time of foreclosure of loan will they charge because i have kept with me the original documents during the entire period of loan tenure.

Kindly advice on how to proceed against AU Finance Ltd., Jaipur and also can I keep with me the original documents as already EMI gets deducted from my salary account.

Regards,
Vinayak
Pune

Nitin Bhatia
Nitin Bhatia
7 years ago

1. You may follow the process of lost documents as shared by me. AU HFC is not governed by the RBI and is under NHB.

2. If ICICI is not demanding the originals then you can keep it with you. There is no issue.

vinay kumar
vinay kumar
7 years ago

hello nitin,

greetings to you ! we have recently choosen a house to buy worth 45 lakhs, we have 20 lakhs with us , we are opting for a loan for 25 lakhs.

1. could u guide me with the steps to be taken for consideration , since the builder has agreed to get us loan as he knew someone from the bank?
2. what we have to demand from the bank before and after sanction of the loan ?
3. incase the builder and bank ppl deal with each other and grant me a loan with improper documents , how could i find dem out ?
4.what all documents have to be taken care of by us from the bank or the builder ?
5. what all documents i have to look out for from the owner and the bank ?

since im buying house for the first time , please guide !

thank you in advance !

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