In Need of Help
24 September 2018 at 05:06
Procedure and possibility to debit freeze joint savings account
Kindly guide me as to how to debit freeze joint savings account.
It is joint account with 7 members of a family and can only 1 member request the bank to debit freeze account?
The joint account is misused with unauthorized withdrawal and transfers to other single account with no accountability by 2 members out of 7 and the rest 5 are unaware of it. The funds belongs to say 1st member but siphoned out by the 6th member and 7th member.
Requested Bank but not cooperating stating
Quote
"The account Mode of operation is with survivorship clause, we cannot block account on instructions of one of the holders."
Unquote
Is there any regulation or rule available issued by Reserve Bank of India which can be presented to bank for getting the debit freeze.
Thank you for your help.
Milcheal
In Need of Help
24 September 2018 at 04:45
This message has been deleted.
Please excuse.
Thank you
Regards
In Need of Help
15 October 2013 at 06:15
Dear Experts,
Greetings
Our quarterly bill payment to Society was delayed by 15 days and due to this they are now in the new bill charging us for full quarter (90 days) and not for the no. of days delayed.
The last Bill was saying interest rate at 1.5% but they are charging at 2% stating that BMC is also charging at 2%.
Our Queries:
a) Are we suppose to pay for the entire 90 days of the bill period or only for the number of days delayed?
b) If the bill is stating 1.5% then can the society charge at 2%?
c) Can we refuse to pay at 2% even though they say that BMC is charging at 2% for since last year?
Kindly help us with your expert advice.
Thank you
Best Regards
Member Strength 9,47,684 and growing..
© 2024 LAWyersclubindia.com. Let us grow stronger by mutual exchange of knowledge.
Freeze bank account for debits
Procedure and possibility to debit freeze joint savings account
Kindly guide me as to how to debit freeze joint savings account.
It is joint account with 7 members of a family and can only 1 member request the bank to debit freeze account?
The joint account is misused with unauthorized withdrawal and transfers to other single account with no accountability by 2 members out of 7 and the rest 5 are unaware of it. The funds belongs to say 1st member but siphoned out by the 6th member and 7th member.
Requested Bank but not cooperating stating
Quote
"The account Mode of operation is with survivorship clause, we cannot block account on instructions of one of the holders."
Unquote
Is there any regulation or rule available issued by Reserve Bank of India which can be presented to bank for getting the debit freeze.
Thank you for your help.
Milcheal