Big Bank Lost Collateral Deed

Hi Everyone,

Keen to hear what the legal implications of this are on Big Bank?

I had taken out an education loan with Big Bank using my parent's property as a security collateral. During the tenure I never had to use the loan as I was able to manage however we decided to keep the loan till I finished my studies just in case. After that when my parents went back to the loan issuing branch to get the docs back, they said they returned it as it was not accepted by the branch. Loan issuing branch says they returned it to the home branch and the home branch has checked their vaults and could not find it and are saying they never received it. In all of this me or my parent's were not notified about anything and further Big Bank has no traces of what happened to our docs after we submitted it. As evidence I have loan sanction/approval letter and an arrangement letter.

My parents's have been talking to the branches in person and are always assured they are taking it very seriously. However it has been more than 6 weeks and nothing has materialised and they keep saying "we are looking into it". Further, we have also sent an email to branch heads about what has unfolded and asked for suggestion on next steps but those emails have been left unacknowledged.

I feel this is a very risky situation and I want to make sure we are protected as consumers where we have not done anything wrong and the big bank seems to be dragging this thing along.

PS: This big bank is top 3 government banks in india.