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ICICI Bank penalised for misplacing property documents
District Consumers’ Forum-1 directed the ICICI Bank management to pay Rs 1 lakh compensation for the mental agony suffered and Rs 2,500 towards legal expenses to the petitioner for misplacing the property original documents. It further asked to issue a public notice in a largest circulated daily regarding misplacement of the original documents of the petitioner and to handover the certified co
Visakhapatnam: District Consumers’ Forum-1 directed the ICICI Bank management to pay Rs 1 lakh compensation for the mental agony suffered and Rs 2,500 towards legal expenses to the petitioner for misplacing the property original documents.
It further asked to issue a public notice in a largest circulated daily regarding misplacement of the original documents of the petitioner and to handover the certified copies to the petitioner after obtaining from the sub-registrar office along with ‘non-traceable certificate’ in two months time.
As per the facts of the case, Chintada Jaya Lakshmi, wife of Kanaka Rao of Kothapet Water Tank area, Vizianagaram, had availed a home loan by executing necessary documents with the ICICI Bank, Dwarakanagar, in the city on June 27, 1997. Since the consumer Jaya Lakshmi wanted to pre-close the loan amount, she remitted Rs 2,74,671 towards full and final settlement following the details issued by the bank on April 29, 2011 and demanded return of the original documents hypothecated.
The branch officials told her that the documents would be delivered soon after the receiving it from the head office. The petitioner meanwhile received a letter from Mumbai on May 5, 2011 asking her to approach Dwaranakanagar branch and collect the documents where she was given only NOC and not the documents. After paying repeated visits to the branch, the vexed consumer issued a legal notice on July 26, 2016 demanding the documents. Later, she filed a complaint with the Forum-1 seeking return of documents and compensation.
The counter filed by the branch manager, which was also adopted by the bank CMD, said that the documents deposited by the loanees would be sent to the registered office for safe custody and will be returned soon after repayment of the loan. In the process, missing of documents is a very rare occurrence and the same was explained to the customer. It said that it will obtain certified copies of the sale deed from the sub-registrar office.
Both the parties filed evidence affidavits and written judgments.After perusing the entire case record, Forum-1 president C V Surya Bhaskaram and member K V R Maheswari observed if the petitioner wishes to dispose of the property, any prospective buyer will entertain original title deed only and misplacement of title documents is nothing but deficiency in service and negligent attitude of the bank.
They said since the bank authorities had admitted that the documents were misplaced, the forum cannot direct it to handover original documents and the petitioner is entitled for compensation and legal expenses.
