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Bank loses property papers after loan repaid; court orders daily compensation

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A bank has been directed by a court to pay Rs 5,000 per day as compensation after it failed to return original property documents to a borrower. The loan in question had been fully repaid back in 2003, but the bank admitted it could not trace the original documents for either property. The bank attempted to defend itself by arguing that the firm had not immediately requested the return of the documents after repayment. The court rejected this reasoning and ruled in favour of the borrower, ordering the daily payout as compensation for the continued loss and inconvenience.

Read the full story at Times of India

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