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Hyderabad Commission Orders Bank Manager Compensation Over Missing Property Documents
A retired bank employee took a home loan in 2012.
She gave the bank her original property papers as security.
She later repaid the entire loan, including interest.
However, the bank did not return her original papers.
A consumer commission in Hyderabad said this caused her hardship.
It ordered the branch manager to return the papers.
If the papers are missing, the branch must pay for official replacement copies.
The commission also ordered Rs 2 lakh in compensation and Rs 15,000 for her legal costs.
A Hyderabad consumer commission ordered a branch manager to return a retired employee’s original property documents.
The woman had borrowed Rs 7.5 lakh in 2012 and repaid the loan with interest.
If the originals cannot be found, the branch must obtain reconstructed and certified copies at its own expense.
The commission awarded her Rs 2 lakh in compensation and Rs 15,000 for case-related costs.
The directions must be completed within 45 days, according to the order.
- Who
- A 60-year-old retired bank employee and the bank branch manager were involved in the complaint.
- What
- A Hyderabad consumer commission ordered the manager to return missing property documents or arrange certified replacements, and pay compensation.
- Where
- The case was decided by a consumer commission in Hyderabad.
- When
- The housing loan was taken in 2012, and the commission’s order was dated August 27.
- Why
- The original property documents were not returned after the woman fully repaid her loan.
Key facts
- Loan amount
- Rs 7.5 lakh
- Loan year
- 2012
- Complainant
- A 60-year-old retired bank employee
- Compensation
- Rs 2 lakh
- Case costs
- Rs 15,000
- Required action
- Return the original documents or arrange reconstructed and certified copies
- Compliance period
- 45 days
Quotes
Hyderabad consumer commission
Consumer commission that adjudicated the retired employee’s complaint
“Not returning the original title deeds even after receiving the total loan amount along with interest is nothing but deficiency in service on the part of the opposite party number 2 (branch manager).”
financialexpress.com
Sources
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