Bank - release of mortgaged deed
Sneha
(Querist) 18 August 2015
This query is : Resolved
My Husband was a partner with his relative and this partnesrship firm took loan from Bank and Original Title Deed of our Flat( registered in my name)was given as security to Bank.My husband demised three years ago in Oct0ber-2012.The Loan account was settled with the Bank and My Title deed and my personal gaurantee was released by Bank as per advise of our partner.Our family did not remain partner but the firm continued with other partners after due formalities and continued banking withe same bank.The newly constituted firm again obtained loan from the same Bank but there was no mention of my property and my name anywhere in the sanction letterin Dec-2012.
But the Bank did not return me my Original Title Deed and also never replied any of my letter, mail etc. Being alone, senior citizen and affected by Breast Cancer I moved to US to my daughter but continued writing to Bank to deleiver the Title Deed to me, to my designated person against valid letter of authority, but the Bank did not return the same to me or to my person.Our earstwhile partners maintained that they have released it and as usual started lacking interest in the matter.
It continued for 30 months till June-2015 when my daughter wrote letters to CMD and other dignatories of the Bank and asked for monetary compensation towards 30 months(for accurual monetary benifits had I recd the deed by renting/selling) only then within 07 days the Bank themselves went to my local house and handed over the same to my designated person against proper receipt with intimation to me over mail. I now have original Title Deed with me.
But sir, the Bank has acted in very negligently and harrassed me for 30 months and also deprived me from any monetary accrual which I could have either by selling it off or renting or otherwise.Instead I had to keep a person there since then for its up keep and spend substantial amount for the same.
I wrote to the Bank for reasoanble compensation(in line with fair market value of the property) for 30 months delay but the Bank has flat;ly declined in writing and says that you had your property phyisically under you and have enjoyed it and hence you are not entitle for anything from them.
I feel the Bank has done great injustice to me by harrasing a senior citizen,widow, alone with only a married daughter in far US.
What can I do in this situatuion.Frankly I am well off, has been very mistreated by Bank, and feel very very outrageous and can afford any kind of statutory action againt the Bank and concerned officials as I feel that this should not happen with any one like me and these PSU executive should learn to behave properly.
Please opine.....Thanks & Regards....
Chanchal Nag Chowdhury
(Expert) 18 August 2015
There has been contributory negligence on your part as well. Why did U not pursue with the bank to release the Deed the moment U were discharged? However, if U so feel U may file a suit for damages against the bank.
Sneha
(Querist) 18 August 2015
Respected Experts,
I have been pursuing the bank regularly with written requests against acknowledgements. The Bank returned the deed immediately once it was served a legal like notice with copy to all senior authority.
Please advise specifically about the nature of action civil or criminal which can betaken.I have genuinely suffered losses of several lac of rupees for this act of bank.Kindly advise.....
malipeddi jaggarao
(Expert) 19 August 2015
As possession of property remains with you, what type of compensation you wish to claim from the Bank? You will have to prove the loss to claim the compensation. It is true, bank has committed harassment. When you daughter complained to the CMD, they immediately acted upon. You should have done this earlier. You are not in India. I feel, it is better if you can forget the episode. You cannot change the world. All institutions are manned by human beings and they do commit mistakes, they are negligent. If you so wish, the other way of vent out your feelings is report to media with all documentary evidence. they may make an episode and telecast the same.
Rajendra K Goyal
(Expert) 20 August 2015
Forget and enjoy. Property and documents are with you. Legal steps may not fetch desirable results.
Guest
(Expert) 20 August 2015
Whether Mr.R.K.Goyal Could Clarify What does he mean by "Enjoy"
Biswanath Roy
(Expert) 20 August 2015
It is a clear case of negligence on the part of the Banker since they neglected to discharge their duties as enjoined upon them but where is your pecuniary loss or injury to your interest in the property when you are occupying the same. Hence, compensation and damage does not attract. However you may file a complaint against the Bank before R.B.I.
Sneha
(Querist) 20 August 2015
Thanks to all the experts for their views., frankly the views expressed seem to be in favour of the Bank bypassing the facts:
01. the bank can act in such manner?
02. the bank has held deliberately the discharged title deed for 30 months, did not return even after regular written reminders and the bank and some of you now says that so waht I have enjoyed my property. How? My Husband died, I developed cancer and had to move to US to stay with my daughter for survival, so what could I do other than writing to bank regularly? 03. The bank and some of you talk about what loss I suffered? Sir, Had I received the title deed I could have fetched Rs.50000/- per month as Rent or about Rs.70-80 lac if I could sell it. Is Bank not responsible for this loss? I had to spend enoromous amount on its up keep and safety by posting guard.Is bank not responsible for it? being seasoned legal experts, why are you so soft towards the negligent and erronous bank officials who are corrupt, and do not have any sense of responsibility to wards public and the bank itself and burn public money like anything.
Under these circumstances do you have any hard and lesson teaching legal remedy aagisnt the bank and its erring officials? if not then I will accept, I have uselessly making noise with artificial tears.
Regards.....
malipeddi jaggarao
(Expert) 23 August 2015
ifs and buts will not work in legal matters. Nobody commented about the noise with artificial tears. We have only guided you on legal points. It is for you to take them in right spirit of not.
