LCI Learning

Share on Facebook

Share on Twitter

Share on LinkedIn

Share on Email

Share More

Y V Vishweshwar Rao (Advocate )     09 March 2009

Destruction of Records

 

Please  verify the following issue and suggest  the course of action in the issue ;-

 

1          Borrower- X availed Loan  from the Bank  and created mortgage  by deposit of title deeds  and committed default  The Bank filed  Mortgage   Suit for Recovery Mortgage its dues  and filed  mortgage original  Title Deed in the Court ,  Preliminary Decree  and Final Decree are Passed

 

2          Preliminary Decree  directing the   X  to pay the Mortgage amount   and to redeem the mortgage with in stipulated time  .On such payment it is directed in the Preliminary Decree that the Title Deeds shall be delivered to X ( from Court Records ) .The  due amount was not paid  as per decree by X and the Final Decree  is passed . The EP filing time  is   there,  for another

4 years . In case the Mortgaged Property is sold in Court Auction Proceedings in EP  ,the Auction purchaser is entitled  for delivery of Title Deeds or  if the Mortgagor-X- himself  pays the Mortgage amount to the Decree Holder  , the Mortgagor-X is entitled  for delivery of the title Deeds from the Court Records  . On filing the mortgage  Suit and filing the Mortgage  original title Deeds along with  Suit in to the  Court ,  the matter is  placed before  the Court ,

the Preliminary Decree directions have to be followed and the Title deeds have to be delivered to the Party entitled to take  delivery of  original  title Deed .

 

3          Recently X paid  the  amount  in Bank One Time Settlement- Compromise .   As per the Preliminary Decree the-X is entitled for Title Deeds from the Court records  on his  application before the Court  . The X filed  Petition for Delivery of Title Deeds to him    and the Bank  endorsed No objection for such delivery to the X .  .The  said Application of the-X is returned by the Court   with endorsement that ;-" Part III Papers destroyed vide Gazette  ". 

 

4-The- X Filed  the CD against the bank  for delivery of original Title Deed and for damages

 

5-The Delivery of original title deeds now is not with in the Control of the Bank

 

6          As per the Court Destruction Rules , the Part III Records are destroyed by the Court , while the Limitation for filing the EP  is there for another 4 years . As per the  Court Destruction Rules,   after certain period the Part – III Records ( including the Documents field by the parties ) will be destroyed

 

7          The Court proceedings are as per the Record Destruction Rules

 

8          As per the  Mortgage Preliminary & Final decree , the Mortgage title deeds shall be delivered to the Mortgagor on his payment of Mortgage amount  .

 

9          The Time for payment of mortgage due & claim for Title deeds   is not so limited period,  it can be paid at any time before the Sale is made in EP .

 

10         The situation is that the Mortgage Decree and Title Deeds in the Court records  are of special nature than other decrees in a suit .

 

11         The Bank obtained the CC of  Title Deed and prepared to Certify that the Title Deeds is Destroyed  in Court Proceedings , in addition to the Court endorsement .But the X is not  accepting the same .

 

The X- Now claiming original Title Deeds and Damages from the Bank

 

Please suggest the course of action to the bank .

 

                                                                        000000

 

 



Learning

 1 Replies

Y V Vishweshwar Rao (Advocate )     19 March 2009

 I requeest our AP friends to express theri views on this issue


Leave a reply

Your are not logged in . Please login to post replies

Click here to Login / Register