Can bank close my fixed deposit and take my money without notice?

saravanan (Querist) 11 February 2016 This query is : Resolved
Hi i have a account at indian bank.i cashed a cheque that a person gave me and received money after 6 days.Then i took money from bank account after two days.Few days later the bank manager called me and asked me to give the money back because the cheque bounced. i told him i have to consult my lawyer.he then threatened me that he will cancel all my fixed deposits and make my balance to negative amount.after two days i got message for transactions showing he debited money after cancelling my fixed deposit. he told me that it is within his rights to do so. i got no notice from him.Is it within his rights to do so?. i have original bonds with me.Should i take this issue to court?.

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Kumar Doab (Expert) 11 February 2016
The bank, banker,BM can not commit any transgression.

That is the end of it.

Apparently you are having the bank a/c and FDR's in the same branch/bank.

The BM has apparently not issued and supplied any letter/notice to you on cheque bounce and has transferred the onus on you to respond to SMS and initiate the communication.

You have the right to act if your rights are infringed upon.

As already observed by you, you may discuss with your lawyer.

Guest (Expert) 11 February 2016
Repeated query
http://www.lawyersclubindia.com/experts/Cheque-cleared-and-got-cash-from-bank-now-bank-asks-me-to-pay-the-money-582636.asp

However, if you want to take the issue to court of law, you may better hire some local lawyer and show case related documents to him. Delay can be harmful to your interest.