Banking -- Title Deed Retention -- Bank cannot withhold original title documents after accepting settlement amount and issuing no dues certificate
Banking Law -- Title Deed Retention -- A bank cannot withhold original title documents of a secured asset after accepting full settlement of dues and issuing a no dues certificate -- Acceptance of settlement amount and issuance of a no dues certificate extinguishes the bank's justification for retaining title documents -- This applies regardless of whether the person making payment was the original borrower or a subsequent owner in possession -- Title deed of a person in possession whose municipal records stand mutated in their favour cannot be withheld on such grounds.
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