Bank to pay for keeping flat papers after loan clearance May 21, 2014
MUMBAI: A consumer forum on Tuesday directed a bank to pay a compensation of Rs 12,000 to a flat owner after it failed to return the agreement of sale to him even after he had cleared the loan amount.
Directing Dena Bank to hand over the document to complainant Pradeep Dadhich, the forum said if the entire loan was repaid, the bank had no right to retain the documents. "In the complaint, it is not disputed that the loan is repaid and therefore lien of the bank came to an end. The bank cannot extend the lien," Central Mumbai Consumer Disputes Redressal Forum said.
Dadhich currently live in Surat. In his complaint last year, he said he took a loan of Rs 6.75 lakh from the bank in 2007 to buy a flat at Bhayander (W). He submitted the documents sought by the bank and began paying the installments. But he suffered losses in his business and decided to sell the flat.
The bank asked Dadhich to clear the housing loan. So he requested the buyer to deposit the money in the account with the bank. Dadhich told the bank to debit the amount in his account and clear the loan. He was supposed to hand over the flat, along with papers, to the buyer. But the bank refused to return the documents.
Link Times of India
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