Tuesday, May 6, 2008
Bank to pay Rs 1 lakh for misplacing papers - Tims of India
Bank to pay Rs 1 lakh for misplacing papers
TIMES NEWS NETWORK
New Delhi: With more and more incidents of loss or misplacement of original papers by banks against loans coming to fore, the state consumer commission has imposed a fine of Rs one lakh on IDBI bank as compensation to a consumer, whose documents could not be traced for four long years. Presiding over the commission, Justice J D Kapoor said: ‘‘Not returning the original documents after the loan has been cleared on the grounds that documents had been misplaced or lost, amounts to gross deficiency in service for which the bank has to adequately compensate the consumer for mental harassment.’’ The callousness came to light when Rajendra Prasad Thapliyal who took a loan from IDBI Bank, payable in 15 years, cleared it in two years. Despite that, the bank did not return the original documents — the sale deed, post dated cheques, original allotment letters — and said the documents had been misplaced.
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