FD Seized

Querist : Anonymous (Querist) 18 August 2010 This query is : Resolved
Dear Sir,

Pls let me know if some ones bank a/cs are seized and any realtives FD is in it can bank seize the FD also?
how can it be released?
Pls help.

Follow Query

Report Abuse

Chanchal Nag Chowdhury (Expert) 18 August 2010
There are 2 ways of doing it.
1st-The person whose Bank a/c has been attached should move the court which has attached the a/c & state his case & pray for release of the FD.
2nd.- The person whose FD has been seized may move the court which has attached the a/c & state his case & pray for release of the FD.
In both cases, the onus is on the applicant to prove that the FD is not part of the debtor's assets & should be able to explain as to how & why the FD was there attached with the a/c in the first place.
Given the option, I will suggest that the 2nd. option should be tried out first.

Devajyoti Barman (Expert) 18 August 2010
It depends upon the reasons of attachment of the FDs. If the FD of the relative of the concerned person is also somehow connected with the case in which the order for attachment is passed then it would be really difficult for him to get his FDs released.
If that relative is no way associated with the case then he would first will have move for addition of party and apply for release of his FDs. His ownership of those FDs, separate from the concerned FDs will also have to be established.

s.subramanian (Expert) 19 August 2010
I agree with chanchal.

Surrender K Singal (Expert) 19 August 2010
The garnishee order say, the order of attachment, in the first place, has to be studied as it surely specifies what is to be attached and for what purpose ?
Tha Bank can not act beyond the order of attachment !

Querist : Anonymous (Querist) 10 September 2010
thank you experts...

Previous

Next

You need to be the querist or approved LAWyersclub expert to take part in this query .

Click here to login now

Similar Resolved Queries :

Ask Query
Unanswered Queries