I have taken home loan from Reputed Bank for buying plot & construction. I had handed over necessary documents to bank official for loan processing including original land registered document and construction agreement. Loan was approved and received loan sanction letter & loan account number. After 3 months, we approached the bank for loan disbursement, but came to know that original land registered document was missing. We insisted to bank that we handed over all necessary document and it is bank fault to misplace the document. Bank official with whom we were dealing with this loan agreed to take remedial step on personal capacity (not as bank official) (1) Missing certificate for lost property document (2) Paper advertisement (both this document states that particular individual has lost the original document ) (3) two settlement deeds (To create two set of original document and latest document can be considered as mother deed for loan processing).
All of the above process has taken 5 months delay in getting disbursement for the builder (This could have been done in couple of months time, but due to the bank official it took longer time).
Now builder is asking for interest amount for the delayed payment and cost escalation due to the delay.
Now I am asking bank official to bear these two costs. I hope bank official now obliged to do that due to documentary evidence for delay. I need to know what I should do if he doesn’t.
Need your suggestion to how to proceed further.
