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Selling bank - missing doc - bank loan -

sir,
party A buys a proprty through nationalized bank loan in 2005. pays off the loan in 2012.property worth is less than 30lakhs.
and want to sell the property now. and discovers that bank has not returned one of the crtical doc
the buyer party b is ok to buy it but with a less than market rate.
party A has gone through several mental agony to trace the doc but bank seems to have lost the file it seems even though RBI guidelines states to store files for atleast 10 yrs.
can party A still initiate a civil suit even after selling to party B the property against the bank?
do i need to take party B permission to file a civil suit or make party B as one of the party to the suit?
if bank wins the case ,will it nullify and make void the sale of property by party A to B?

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1 Replies

R.Ramachandran (Advocate) 27 July 2018

First how will you prove that the document in question (which you say was lost by the bank) was handed over by you to the Bank? Have any documentary proof for this?

Secondly, how will you prove that the document in question (which you say was lost by the bank) was NOT returned by the bank to you? Have you given any acknowledgement listing the documents one by one which the bank returned to you? If not, what evidence that you have to prove that the bank did not give back the document to you?