Lost of original property papers by bank

It is your choice.

The Bank is deliquent and deficient.

Your very able senior LOCAL counsel of unshakable repute and integrity specializing in Consumer mattters having successful track record can update you on prospects of compensation from DCDRF.

Same Query:

https://www.lawyersclubindia.com/forum/Lost-of-original-property-papers-by-bank-154445.asp

I would consult with local counsel as Kumar has said.

The bank lost your papers, and even a certified copy may not do for some potential buyers. The bank should provide you with more documentation that a buyer of the property would see that it was the bank that lost the papers not you (or that bank had them, you didn't just misplace them or lie about them).

The indemnity is to protect themselves. Lodging an FIR and ad in local newspapers is something they should be doing even BEFORE you sign an indemnity bond, because if you don't sign it and they say "We won't file an FIR", what's to stop you from going to court and demanding that the bank produce the documentation? Court may be an option though as then there will be a court order or agreement clearly stating that the bank lost the documents.

You said "Also stating that in future customer should put any case against bank in any court and neither in consumer forum." did that mean "put a case in court and not in consumer forum" or neither court nor consumer forum?

LIC wants to save and defend its interest.

It is your call.

Subsequent to talking to your friends, discuss with a very able counsel handling revenue matters  that can advise you the best for proeprty related matters  and then consumer matters that can advise you for compensation that you are thinking of.

Arika you have strong case against bank so you can proceed and file case against bank in consumer forum for compensation.

Visit nearest DCDRF and try to speak counsels appearing there.

You can also access informatin at;

www.confonet.nic.in

and the judgments also.