Exemplary Cases dealt with by BankingOmbudsman offices during 2009-10

44. Loss of original Title Deed of property mortgaged with the bank : A customer availed of home loan and original Title Deed of his residential property was mortgaged with the bank. The loan was fully repaid; however, the bank did not return the original Title Deed. The bank stated that Title Deed was not traceable. BO observed that the banks action of misplacing the Title Deed had resulted in permanent defects in the documents of title and it amounted to sheer negligence of service and violation of BCSBI Code by the bank. Therefore, BO directed the bank to arrange for a duplicate set of Title Deed duly certified by the Registrar and also issue a certificate under its letter head to the complainant stating that the property documents citing full details of all lost documents at its hand and that the certified copy may be construed as the original. The bank was also directed to issue an advertisement in a prominent local newspaper regarding loss of original documents and pay compensation of ` 20, 000/- to the complainant.