Viney Puri (officer ) 31 July 2015

Recovery of bad debt by another bank

can bank "A" after receiving a letter in this behalf deduct an amount from account of his own customer to recover the debt of another Bank "B" & remit the same to it.

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3 Replies

Advocate Rohit (Advocate) 31 July 2015

Hello!

Kindly share the details of the matter properly. Was there any direction by the Hon'ble Court?

If you could shrare proper details then it would be easy to advice you.

Regards

Adv. Rohit M. Dalmia

9324538481

Mumbai

Kumar Doab (FIN) 31 July 2015

You have posted that:

"can bank "A" after receiving a letter in this behalf deduct an amount from account of his own customer to recover the debt of another Bank "B" & remit the same to it. "

As far as I understand If bank A and bank B are different then bank A can not....................until or unless there is a order by court of law to do so.

You may demand from Bank A (local BM, Circle Manager,MD,Chairman................and even copy to governor RBI) to refund the amount at once as you wish by cash/cheque/DD. If you are unable to handle entrust the matter to your lawyer well versed with banking/consumer matters.