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opu   25 March 2016

[help] Need to Apply for SUCCESSION CERTIFICATE at Kolkata, WB

Hello Everyone

Hope this message finds you in good health and spirits. I need some help/guidance regarding applying for SUCCESSION CERTIFICATE at KOLKATA, WEST BENGAL. Please note that I am from Madhya Pradesh and I need to go to Kolkata for applying for succession certificate as my father's property is based at Kolkata.

My father (NRI) died in a road accident in a foregin country in the year 2003. Just before his death, he opened a NRE (Non Resident External) account at a reputed international bank at Kolkata WITHOUT ANY NOMINATION. After his death the bank converted his NRE Account into DOMESTIC account as per Reserve Bank's of India Guidelines contained in its Master Circular.

The PRINCIPAL AMOUNT (with which the account was opened in the year 2003) for this account is: 4,50,000 INR. The bank is asking us to apply for succession certificate to claim this amount.

Before I apply for succession certificate by finding a lawyer at Kolkata, I would like to know following things first:

1. Court will take its FEE on PRICIPAL AMOUNT or on PRINCIPAL + INTEREST AMOUNT? I have heard that the court only take its fees on PRINCIPAL AMOUNT. It has nothing to do with accumulated interest.

2. Can you please tell me the % fees that I have to pay to court at Kolkata/West Bengal. How can I gather accurate information about this percentage fees of court?

3. Is it necessary to appear before the court during/after applying for succession? OR a lawyer can handle all succession related things without our appearance in front of court/judge?

I have some more queries, but those questions are based on the answers to above questions. Request you to please answer these queries. Your answers will greatly help me.

Thanks and regards

~ opu

P.S. We have already claimed a certain amount by means of Indemnity Bond earlier. Bank is now telling us that the rest of the amount can be claimed ONLY by means of Succession Certificate.



Learning

 5 Replies

Kumar Doab (FIN)     25 March 2016

RBI Master Circular; Sec19&20 deals with 'Deceased Depositor a/c':

 

"20.2 Accounts without the survivor / nominee clause
In case where the deceased depositor had not made any nomination or for the accounts other than those styled as "either or survivor" (such as single or jointly operated accounts), banks are required to adopt a simplified procedure for repayment to legal heir(s) of the depositor keeping in view the imperative need to avoid inconvenience and undue hardship to the common person. In this context, banks may, keeping in view their risk management systems, fix a minimum threshold limit, for the balance in the account of the deceased depositors, up to which claims in respect of the deceased depositors could be settled without insisting on production of any documentation other than a letter of indemnity."

 

 

The bank could have paid by obtaining Letter of Indeminity and Surity (ies) of equivalent amount.

 

However the lawyer can answer all of your queries.

 

Are you asking to post details of lawyer at Kolkota?

1 Like

opu   25 March 2016

Hello we have already claimed minimum Threshold amount by means of Indemnity bond. Amount above this threshold limit must be claimed by means of Succession / Legal Heir Certificate Only.

I am currently residing in Madhya Pradesh and need to find a lawyer at Kolkata. Before that I want information on following queries from you knowledgeable people: 

1. Court will take its FEE on PRICIPAL AMOUNT or on PRINCIPAL + INTEREST AMOUNT? I have heard that the court only take its fees on PRINCIPAL AMOUNT. It has nothing to do with accumulated interest.

2. Can you please tell me the % fees that I have to pay to court at Kolkata/West Bengal. How can I gather accurate information about this percentage fees of court?

3. Is it necessary to appear before the court during/after applying for succession? OR a lawyer can handle all succession related things without our appearance in front of court/judge?

 

Kindly answer above queries

 

Thanks

Kumar Doab (FIN)     25 March 2016

Can't bank pay by getting surities of equivalent amount?

All queries raised by you can be precisely answered by local lawyer.

You can also check the process and procedure at HC website.

1 Like

opu   25 March 2016

Hello sir Thanks for your answer.

We have already claimed around 3 lakhs 30 thousand from my deceased father's 2 accounts by means of INDEMNITY BOND. I am not sure but as far as I know INDEMNITY BOND and SURETY BOND are the same thing. Please correct me if I am wrong.

Now when we asked the bank to settle the remaining 3 accounts by means of INDEMNITY BOND, they said that the PRINCIPAL + INTEREST amount of these accounts exceeds 5 Lakhs INR and because of this they can only settle the account by means of SUCCESSION CERTIFICATE.

Please see a part of bank's reply here: https://i.imgur.com/mmcxBe9.png

Kindly suggest what to do?

Thanks again

Kumar Doab (FIN)     22 April 2016

You may get in touch with LCI Expert Devajyoti Barman.

 

Log onto the profile and discuss your issues.

 


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