Bank failed to return property papers after home loan closure: How a Delhi couple got ₹15.5 lakh compensation
A Delhi couple received ₹15.5 lakh in compensation from Axis Bank after the bank lost their original property papers following the closure of their ₹1.41 crore home loan. The Delhi State Consumer Disputes Redressal Commission ruled in favor of the couple, who had struggled to retrieve their documents despite multiple requests after repaying the loan in March 2021. The bank acknowledged the loss of the documents in July 2021, leading the couple to initially seek redress from the Banking Ombudsman, which awarded them ₹5 lakh before they pursued further legal action.