mohan (Accounts Mgr) 20 March 2014

Loss of original title deeds

Dear Sir,

Our company went for working capital for nationalised bank and offered 3 collateral securities.

One of the assets having only Certified True Copy instead of Original Title Deeds, since it was

misplaced long back. And the legal adviser of the bank pannel also given it is free title and there

is no charge at anywhere. But the bankers are not willing for equitable mortgage for the said asset.

Kindly help me out to what are the other documents to submit to bank for believe and prove for the

asset is genuine/existing/free ownership/free charge, since we havnt any other assets to give collateral at

this moment. Hope the Legal experts may respond and thnx in advance sir.

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3 Replies

adv.raghavan (Advocate,9444674980) 20 March 2014

U have to file a police complaint, FIR WILL BE REGISTERED AND after proper investigation and they will come back with NON TRACEABLE CERTIFICATE of the said document, with that u will be asked to go for PAPER ADVERTISEMENT in a prominent newspaper, then u can make use of certified copy of documents. In mean time the owners of the property have to give DECLARTION DEED STATING THAT THIS PROPERTY IS NOT PLEDGE ANY WHERE AND IT IS FREE FROM ALL ENCUMBRANCES. This is the general procedure being followed by major banks, i do not know whether your bank will accept it or not