[Resolved]  ICICI Bank Limited — ORIGINAL PROPERTY DOCUMENTS NOT RETURNED BY BANK

My name is Chamarty Viswanadham, aged 45 years, working as Senior Manager in Rashtriya Ispat Nigam Limited, Visakhapatnam Steel Plant, Visakhapatnam residing at 133-C, Sector-6, Ukku Nagaram, Visakhapatnam - 530031..

M/s ICICI Bank Limited sanctioned a loan of Rs.235000/- upon executing an agreement bearing file No. No.[protected], dated 15/03/2003 for take over of loan from M/s Housing Development Finance Corporation. M/s ICICI Bank fixed the repayment schedule of the loan in 48 equal month installments (EMIs) of Rs.5765/- starting from 07/05/2003 to 07/05/2007. M/s ICICI Bank disbursed the loan of Rs.234681/- by deducting pre-EMI interest of Rs.319/- from loan amount of Rs.235000/- by way of cheque No.612144, dated 25/03/2003 in favour of M/s HDFC, Visakhapatnam.

In connection to this loan transaction towards security, ICICI Bank Limited demanded me to deposit the Original Property Documents in respect of property situated at Plot No.41, Netaji Nagar, Bommuru, Rajahmundry – 533101, East Godavari District, Andhra Pradesh. Accordingly I have deposited the following documents after receiving acknowledgement from Shri DVK Madhav, Relationship Officer of ICICI Bank Limited on 08/09/2003.

(a) Sale Deed No.42/95, Dated 19/05/1995
(b) Link Sale Deed No.7341/83, dated 06/08/1983
(c) Encumbrance Certificate No.493/99, dated 13/04/1999
(d) Encumbrance Certificate No.3541/99, dated 15/04/1999

I have repaid entire loan amount promptly in 48 installments as fixed by ICICI Bank on 07/04/2007. Then I have demanded the ICICI Bank for returning of Original Property Documents. However, ICICI Bank Limited failed to return them till date.

Even the ICICI Bank is not intimating what happened to Original documents, i.e., whether the Original Property Documents are destroyed due to the reasons like fire, floods, etc and cannot be traced back or whether they are misplaced/delivered to a third party, if so when, where, how, why the Original Documents misplaced/delivered to third party and whether they can be traced within a reasonable period.

If any person dealing with ICICI Bank for home loans may kindly take note of above loss as it may happen to them.