ORDER

PER MR SUBHASH CHANDRA, MEMBER

        This complaint has been filed under section 21 read with section 22 of the Consumer Protection Act, 1986 (in short, ‘the Act’) against the opposite party/ bank on the ground that the opposite party was guilty of deficiency in service in losing / destroying the original title documents of his residential flat which was deposited with the opposite party for securing a home loan taken from the Bank.

2.     The facts, according to the complainants, are that in July 2010 they had approached the opposite party for a housing loan to buy a residential flat no. 409, 4^th Floor, Block Siena, Mahagun Moderne GH 02, Sector 78, Noida, UP 201 301. A home loan of Rs.30,67,714/- was sanctioned on 05.07.2010 and in order to secure the said loan the complainants were required to deposit the original title documents of the said flat with the opposite party. The following documents in original pertaining to the flat were deposited by the complainants with the opposite party:

3.     Against the sanctioned home loan a sum of Rs.28,74,633/- was disbursed and the complainants made timely re-payments by way of instalments. On 25.01.2018 the complainants approached the opposite party to foreclose the home loan. The opposite party, vide e-mail dated 02.02.2018, confirmed that the original documents pertaining to the flat would be handed over at the time of fore closure of the home loan. Following the full and final payment towards closure of the home loan, the complainants made several requests for return of the original title documents on 07.03.2018, 22.03.2018 and 26.03.2018. While the opposite party confirmed on 07.04.2018 that the loan had been settled, it failed to return the original documents. The complainants complained to the opposite party vide e-mail dated 30.03.2018 regarding the non-delivery of the original documents on 07.04.2018. The opposite party thereafter conveyed on 21.04.2018 that the original title documents had been destroyed/ damaged on account of a fire in the Stockholding Documents Management Services Ltd., (SDMSL) on 11.12.2017. Complainants have alleged that the opposite party failed to take due care of the original title documents and accepted the foreclosure of the loans without disclosing its destruction. They have alleged that the opposite party failed to even provide a copy of the FIR in respect of this fire and loss of original documents or to take action of its complaint. It is also stated that the opposite party did not even provide a copy of the advertisement published by it in this regard. However, the opposite party provided a certified copy of the registered Sale Deed cum Sub Lease Deed on 05.05.2018 for the said flat which the complainants received under protest. It is alleged by the complainants that the loss of original title documents has created a defect of permanent nature with regard to the strength of the ownership title of the said flat, and on account of this, several efforts to sell the flat by them have not fructified. Their application in June 2018 to HDFC Bank for a loan was also declined by the said Bank as only the certified copy of the registered Sale Deed cum Sub Lease Deed was available. The complainants allege that they have suffered a financial loss of Rs.1,05,00,000/- which is the current market value of the said flat based on the revised Cost Inflation Index.

4.     The complainants aver that they have also paid Rs.13,98,732/- to the opposite party as interest on the home loan and the loss of the original title documents has caused them considerable mental agony and harassment for which they should be compensated. A legal notice dated 06.08.2018 was sent to the opposite party. The opposite party in their reply dated 24.08.2018, while admitting that the original documents were deposited to secure the home loan, also admitted that the documents were destroyed in the incident of fire in SDMSL. The complainants are before this Commission praying for direc