Legal Question in Banking Law in India
validity of condition
my father n mother have jt a/c in sbi. with operational condition eor s. fathder died. i being legal heir wrote to bank that settlement of claim is in the court with other matters dont allow operation in the a/c till hear from the court. again reminder was givn to them but came to know they allowed mother to take money after the acknowleging the letter after few days. what shoud be the correct position/ still fds are lying with them and not done anything by bank/ lodged a police complaint for fradulent transaction done . explain me the correct position
4 Answers from Attorneys
Re: validity of condition
in fact you should have been alert in getting the injunction against bank not to allow the operation by your mother . The bank till gets order from court is bound by mandate of operational instructions. Your police case would fail as there is no fraudulent transaction accorindg to me . Your letter and reminder doesnot stop the bank to do away the madate of operation of account you should promptly obtain orders from court not to part with the FDs and other funds and accounts
Re: validity of condition
there is no fraud involved. your mother is entitled to the money. you may claim your share from the court. the bank is entitled to permit your mother to access the money in joint names with your deceased father or in her name.
Re: validity of condition
The Bank is perfectly in order in permitting your mother to operate the account and receive funds being the survivor of the joint account with your late father with an 'e or S' mandate. You cannot accuse the Bank of fraud. However you can have the share of the funds from your mother as a legal heir to your father in the pending litigation.
Re: validity of condition
When A/c was in joint names and with condition either or survivor then even the court can't stop her from operating it.Legal heirs have no right unless there name has been put on the Bank A/c to take any action.
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