Axis bank (fort ) wants indemnity letter on rs500 paper


With the guidance from good people on this forum ,I made a decision and my lawyer sent legal notice to Axis Bank (Fort Mumbai) and finally ,after 10 months of wishy washy answers responded that my deceased mothers FDs can be released to me and that there is no dispute. The banking guys want to communicate directly with me and not thru the lawyer.

Now, they are asking an indemnity bond on Rs 500 stamp paper. I live in USA  and this kind of stamp paper is not even available here.  Other issue is ...will this even be valid in India as an American Notary will be notarising this document.

If anyone has knowledge about this indemnity bond issue, please provide some guidance.

 

 
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CEO

I don't think an insemnity bond stamped in India on a Rs.500 NonJudicial Stamp paper(valid)  notarized in a

Foreign country is valid in India.you get everyuthing done here in India and get i tbby speed post  and submit in indian consular office in US.

 
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CEO

I don't think an insemnity bond stamped in India on a Rs.500 NonJudicial Stamp paper(valid)  notarized in a

Foreign country is valid in India.you get everyuthing done here in India and get i tbby speed post  and submit in indian consular office in US.

 
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Retired employee.

Write to Axis Bank, inform the difficulty and seek their solution.  They may be having agency banks abroad.   

 

 
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My lawyer in Delhi can prepare indemnity bond on Rs500 and mail it to me for signature.  Who will notarise it ?  I dont want to come to India just for making this paper.  

Can someone please clarify how I can submit a valid indemnity bond on Rs 500 stamp paper while living in USA.

 
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yes. I have written a letter to Axis Bank and am awaiting reply.

 
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CEO

Sir, You have to approach the Indian Embassy for the necessary notarization. Good luck, Kishor Mehta
 
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Dear AKS, Certainly the Judicial Bond Paper and Noroary obtained at a foreign land is Null and Void in India. The best is do write a RTI Application to Axis Bank telling your situation which is now possible online rtionline.gov.in by paying a fees of Rs 10 only. 

In Karnataka state there is provision for e-Stamp papers but it is through authorised banks and co-operative societies only, so i doubt you can apply e Stamp paper while staying abroad. 

Once you get response from Axis Bank on the contents and the value of Non Judicial stamp paper, i can see the only way out is that someone from India courriers it to you, you sign and send it back and a Notary who is in known circle helps you by is ready to notarise it "Sworn in before me" :-) :-) . If not, then possibly do it whenever you happen to come to India.

 
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why I reccomend RTI application is for the fact that the Bank is obiliged to answer your queries within 30 days and in case if their response is Not satisfactory, you have two level appeal. a

While most Notaries are strict and demand the applicant to sowrn in before them however, in small towns, the Notaries are not that strict and can help you considering your problem.

 

 
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Retired employee.

Axis Bank being a Private sector Banker is beyond ambit of RTI Act.   RTI is not a solution.

The bank is having a printed format of such indemnity bond, duly embossed.

Please find a striaght and legal way and do not take short cuts, as your entry and departure is registered in passport, and such notarization may not be proper.

 
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