Misappropriation of HUF Deposits
Querist :
Anonymous
(Querist) 15 May 2010
This query is : Resolved
PPF maturity of deceased father's HUF having been handed over to one of the coparceners without others' consent by a Nationalised Bank, has since been allowed to be misappropriated by another Nationalised Bank where the self-styled Karta manipulated to open and operate Bank Accounts in the name of our father's HUF. Though required to obtain the mandatory Form F303 as declaration from all coparceners with their signatures/identity, the erring Bank has conveniently overlooked their Bank's own norms and allowed withdrawal of lakhs of Rupees worth of Deposits to only one of the coparceners. How and Who could be proceeded against for such misappropriation of HUF funds?
Raj Kumar Makkad
(Expert) 15 May 2010
The concerned officials of the bank as well as that fradulant person are responsible for the losses incurred to all other members of HUF whose valuable amount has been fradulantly withdrawn without following the norms of bank itself.
adv. rajeev ( rajoo )
(Expert) 16 May 2010
colluding each other bank manager and one of the co-parceners of HUF has done illegal act. Issue notice to the bank manager claiming compensation for causing loss by the his illegal act.
Querist :
Anonymous
(Querist) 16 May 2010
Bank Manager avoiding to respond to the notice ?
Querist :
Anonymous
(Querist) 16 May 2010
THANKS, all Experts
Querist :
Anonymous
(Querist) 28 May 2010
Against RTI query, the Bank has since accepted lapse of not obtaining HUF declaration F.303 from all the co-parcenors vis-a-vis Bank manager's earlier assertion that nothing wrong had been done in opening / allowing operations of the HUF account by only one of the co-parcenors;
How could the Bank be made to compansate all HUF funds so far illegally allowed to be withdrawn by only, one of the co-parcenors ?
