Hyderabad: Directing Axis Bank to return the original registered sale deed documents to its customer within 45 days, the Hyderabad District Consumer Disputes Redressal Commission-I has asked it pay Rs 1 lakh compensation for failing to return the documents even after the customer had repaid the loan.
A government employee, I. Padmajarani, resident of Gundlapochampally in Medchal-Malkajgiri district. filed a petition before the commission that she had borrowed Rs 20 lakh from the bank by mortgaging her house and agricultural land and submitting original documents as collateral security.
"We cleared the loan on June 21, 2021, and sought return of original documents. The bank failed to oblige and now we are not able to sell the house. The bank had issued a ‘no due certificate’ on July 2, 2021, but did not release the original sale deed documents," the complainant said in her petition.
In a counter-petition, the bank said that due to Covid-19, most of the staff at their branch office had failed to resume their duties and hence they were unable to retrieve and handover the documents.
After examining the case, the commission directed the bank to return the original registered sale deed document within 45 days, and pay Rs 1lakh compensation in addition to another Rs 10,000 towards litigation cost to the customer.
