1 month ago

Axis Bank Ordered to Pay ₹15.5 Lakh After Losing Deed

Axis Bank Ordered to Pay ₹15.5 Lakh After Losing Deed
Bank failed to return property papers after home loan closure: How a Delhi couple got ₹15.5 lakh compensation · livemint.com

A couple in Delhi paid a big loan to buy a house.

When they finished paying, they asked the bank to give back the original papers that prove they own the house.

The bank lost those papers.

The couple asked for help from a special group that deals with consumer complaints.

The group said the bank should pay them money for the loss.

The bank was ordered to pay ₹15.5 lakh.

If the bank does not pay on time, it must also pay extra interest.

The case shows that banks must keep important documents safe.

Key facts

Loan amount
₹1.41 crore
Compensation awarded by commission
₹15.5 lakh
Bank
Axis Bank
Property location
DLF Capital Green, Karampura, West Delhi
Commission
Delhi State Consumer Disputes Redressal Commission

Sources

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