SHEEL SOHAL & ANR. Vs. AXIS BANK LIMITED

JUDGEMENT

(1.) The complainants who are husband and wife, booked a housing loan from the OP namely Axis Bank, to the extent of Rs. 30,37,202/-. In order to secure the said loan, the complainants deposited the original title documents of a residential flat no. 218 in Block-D, Pocket-A of Shalimar Bagh, Delhi with the OP. The said loan having been repaid, the complainants approached the OP for returning the aforesaid title documents. The title documents having been lost or misplaced, were not returned to the complainants. Being aggrieved, the complainants are before this Commission seeking the following reliefs:

(2.) The complaint has been resisted by the OP namely Axis Bank Ltd. which has admitted the loan extended to the complainants as well as the repayment of the said loan. It is also admitted that the title documents of residential flat number 218 in Block-D, Pocket-A of Shalimar Bagh, Delhi were deposited with the OP at the time of sanction of the loan. It is also not disputed that the aforesaid documents are not traceable with the OP.

(3.) It would thus be seen that the OP namely Axis Bank Ltd. has lost or misplaced the original title documents of the residential flat owned by the complainants. The OP ought to have kept the aforesaid valuable documents in safe custody and ought to have ensured that the same are duly returned to the borrower after repayment of the loan. That having not been done, it is evident that the OP has been negligent or deficient in rendering services to the complainants who were their consumers.