LIC Housing Finance asked to pay Rs 10 lakh after losing borrower’s original property papers
The Delhi State Consumer Disputes Redressal Commission has ordered LIC Housing Finance to pay Rs 10 lakh in compensation for losing a borrower's original property documents. The ruling confirms the lender's deficiency in service after failing to return the deeds following the full repayment of a loan.
Why it matters
This sets a legal precedent for consumer protection in the financial sector, emphasizing the responsibility of lenders to safeguard critical property documentation.
LIC Housing Finance asked to pay Rs 10 lakh after losing borrower’s original property papers - The Times of India
The article provides a straightforward account of a court ruling and the facts of the case.
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