Bank Loses Original Land Deed, Must Pay ₹2.5 Lakh in Consumer Case
मुख्य बातें
- •A consumer commission in Thrissur directed Central Bank of India to pay ₹2.5 lakh compensation after losing a borrower’s original land title deed (Pattayam).
- •The borrower had deposited the original Pattayam for a 0.8903-hectare property as security for an agricultural loan of ₹3 lakh.
- •The bank admitted the document was lost while in its custody and could not be traced even after years.
- •The commission ruled that the bank’s failure to safeguard the document was negligent and unrelated to the borrower’s repayment issues.
The Thrissur District Consumer Commission has held the Central Bank of India liable for losing an original land title document (Pattayam) that was deposited as security for an agricultural loan, and directed the bank to pay ₹2.5 lakh as compensation to the borrower. The order also includes ₹10,000 towards litigation costs, both payable with 9 per cent annual interest until realization.
The dispute arose after Sathyavalli and her son Saseendran, residents of Madakkathara village in Kerala, availed an agricultural loan of ₹3 lakh from the Central Bank of India’s Thanikkudam branch. As security, they deposited the original Pattayam for a 0.8903-hectare property. Years later, when Saseendran approached the bank for an additional loan, he was informed that the original document could not be located. The bank subsequently admitted that the original Pattayam had been lost while in its custody.
