My father was a Indian bank manager and he was the surety for his brothers PMRY loan in Indian bank. Father expired in feb 2007. His brother is defaulter in paying PMRY loan. So the graduity amount ( 1.57 lakh ) was held with the bank since my father was a surety for his brothers PMRY loan. In mar 2012 , his brother closed the PMRY loan with one time settlement with the bank. Now when I asked for the graduity amount , they are telling this amount is held in sundry deposit only. So no intrest will be paid on the graduity settlement. It has been a long 6 years waiting for the settlement. No communication on why the amount is has been made to me.
My issues are.
1. Is it right to held the graduity amount of the staff for PMRY loan surety.?
2. If yes, the pending for the loan is only 89 thousand on 2007. why they held 1.57 lakhs.?
3. Since , the loan is closed by the borrower. Why cant the provide me the intrest on graduity settlement.?
4.Please help me on this issue . I need the graduity amount settled along with intrest.
