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superfast munnabhai (trainee)     20 October 2010

Order 39 R 1 and 2. Dipute over FD between spouses..Help me

Order 39 R 1 and 2. Dipute over FD between spouses..Help me


This is a civil as well as family court matter.

 

Dispute between Husband(me) and Wife going on (Wife filed for divorce).

 

Step 1: My lawyer has applied for 'restriction to liquidate FD/Fixed Deposits' as per Order 39, in Oct-2009 in regards to many things which include following...


Total of Five Fixed Deposits between me and my wife as a joint FD with 'either or survivor'.
One of the FD got matured in last few month months(July-2010)
Remaining four to get matured in 2011.

 

Step 2: Wife's lawyer gave the response within time (Nov-2009) and refuted my claim with folowing reasons:

 

All FDs are as 'Either of Survivor'. My wife possesses all 'original certs' (she took it away from my cupboard while walking out.)


This Matter of Order 39 is still pending and even not gone further even inch, because there were many applications filed by wife after that.

 

Now wife encashed one FD in the last week which got matured.

 

Her lawyer said 'it is allowed to encash and spend that money because there was no restraining order as of today'

 

Her lawyer also said 'Liquidation of FD' and 'encashing of FD' after maturity are two different issues.

Her lawyer also said that 'Wife didn't liquidate it but encashed it after maturity.'

 

Because wife has the 'original certs', any banks or even  court can not stop her from encashing it for her urgent needs, irrespective of who contributed into FD's principle. The reason is that 'either or survivor' definition allows the bearer of the instrument to encash it. Restraining was anyways  immpossible on such!!

Please suggest remedy!!!!! OR Please suggest remedy for remaining four FDs atleast!!!!!

 

Have I lost that encashed FD principle for ever? I have contributed by around 70% in all FD's.

 

We had joint saving account.

We deposited our cheques in that.

We then made FDs by attaching withdrawl slip to FD account forms in that bank (SBI). SBI declined my letter to stop such payment and said the same thing as above!!!

 

Please Help me for my problems!!!!



Learning

 21 Replies

superfast munnabhai (trainee)     20 October 2010

Q1. First of all ...Is there any 'mischief' or 'non-legality' in what the wife's lawyer said.

 

Q2. If the the suit matter is pending as per Order 39, How can she encash FD. Is It not contempt and fraud?

 

Please Reply

R.Ramachandran (Advocate)     20 October 2010

Unless there is a stay order from the Court restraining your wife from encashing the FDs, she can jolly well encash it.

Once you have a stay/injunction order from Court, then even if she has the original certificates with her, she will not be in a position to encash it (even when the FDs are either or survivor basis).  Ofcourse, the copy of the stay order should be served on the organization where the FD is made, under acknowledgement.

superfast munnabhai (trainee)     20 October 2010

It's my wife who delayed the whole case so far.

 

Is it a my mistake if she keeps on filing intermediate applications one after another?

I don't think so!!

 

Are you saying sir that FIFO is not allowed? or is it that my lawyer didn't press for FIFO (first in first out) kind of hearing on all application. Then my application shud have heard since 2009.

 

I feel that injustice is done to me.

 

There is LIFO (last in first out) system in court. which is totally wrong!!

Because, every new  interim application submitted by either party is automatically going to result in the adjournment of further hearing of all the previously filed applications!!

 

Then, This is a basic blunder in the our legal system!!

 

Somebody please help our nations!!

 

Q1. Can I give this reason what wife encashed it...to make the judge take my order 39 application on priority?

This is a very urgent question..please help.

 

Q2. And also Is there any merit in my application order39?

Wife's lawyer told me that my application had 'no merits' anyways!!

Since 'either or survivor' means that both partied agreed and conferred, at the beginning only,  the full rights to any bearer amongst two of us.

 

I had gone to bank and told them to give duplicate copy.

 

But that time Bank asked for signature of both. (I am highlighting the double standards here)

After maturity of one of the FD also I went there again to ask for duplicate , but again bank asked for signature of both. They also called my wife on phone and she told them that she had the 'original cert'

 

IF For getting a duplicate if Bank requires 'both regnatures',  Isn't the bank NOT following  the meaning of 'either of survivor'? Is it not a double standard and injustice to me?

R.Ramachandran (Advocate)     20 October 2010

Dear Munnabai,

You don't have any Circuit to help you.

When you opened an FD on 'either' basis it only means that either of you (wife or husband) can operate the account / withdraw the money.  So what is illegality about it when the bank honour's wife's signature and permits withdrawal?  There is no double standards in asking for signature of both when you ask for 'duplicate' since it is quite possible that when you ask for 'duplicate' your wife might be having the original.  Therefore when both of you sign and ask for 'duplicate' it means that both of you are not having 'originals'. 

Our saying that whether you have any merit or not in your Section 39 petition has no value - what matters is whether the judge is convinced or not.

Whether it is FIFO or LIFO, it is for the Court to decide and it is for you to convince the Court.

superfast munnabhai (trainee)     20 October 2010

I have contributed by around 70% in all FD's.

 

Is there any legal way to recover my contribution? or is it gonewith 'either or survivor'  thing

agreed on while making FD. That time we both had trust in each other

 

But now she is in court against me for divorce hence all such agreements are bound to get cancelled.

 

Can I say to court to please treat this money as  maintenance already given by me to her.

She is holding the grip on my money  and on  top of it she is asking for maintenance separately.

 

Please try to understand my problem and the whole situation.

R.Ramachandran (Advocate)     20 October 2010

Whether your contribution was 70%, whether it is your hard earned money, whether the agreements would be cancelled or not etc., has no meaning here.  As already indicated to you, unless you get Order 39 stay from the court, you cannot stop your wife from encashing the matured FDs.  As simple as that.  Whatever may be your problem, this is the legal position.

Arup (UNEMPLOYED)     20 October 2010

munna bhai ji,

try to understand the legal procedure.

if the account is in her name, she is free to draw it or encash it.

for restricting it you must have to obtain a court's order on it.

this is very simple and common procedure at court.

but court generally do not pass such orders untill he satisfy about the genuinity of the same.

it is difficult but possible.

if you already not done, pray for it immediately.

2 Like

Arup (UNEMPLOYED)     20 October 2010

you post the same in civil section and expert section also

do not worry you will be fully equiped from this site.

2 Like

Self service (None)     20 October 2010

As you said all FD's are "either or survivor" ---> Go to bank tell them you lost original and want to encash FD's.

Bank will take your application in written for same and liquidate FD. Take your money whatever u are getting...

remember your wife can also do same, do it before she reads this message board

Arup (UNEMPLOYED)     20 October 2010

in whose name accounts were?

if it is in wife's  name, bank post office will not take any action, without court's order.

actually i did not go through the long postings.

2 Like

R.Ramachandran (Advocate)     20 October 2010

Dear Self Service,

I think you did not understand the real problem at all.  Without knowing this you are suggesting the solution.

Mr. Munnabhai has said that:

"I had gone to bank and told them to give duplicate copy.  

But that time Bank asked for signature of both. (I am highlighting the double standards here)

After maturity of one of the FD also I went there again to ask for duplicate , but again bank asked for signature of both. They also called my wife on phone and she told them that she had the 'original cert'.

But without reading his difficulties, you are saying ---> Go to bank tell them you lost original and want to encash FD's. Bank will take your application in written for same and liquidate FD. Take your money whatever u are getting... "

I will request you to first understand the situation, the circumstances given, and then give your answer.

2 Like

superfast munnabhai (trainee)     20 October 2010

I wud be greatful If  I know the remedy urgently.

 

Saving account is 'either or survivor'  for operation

All those FD's are 'either or survivor' type

Quaterly interest get deposited in the same joint a/c

 

FD which had got matured and has been encashed by my wife...my name was first and wife's second.

Remaining FDs which are not yet matured wife's name is first and mine was second.

 

I managed to get the quarterly interest by withdrawing from saving a/c (and so did she also). But interest amt is trivial.

 

Wife gave FD encashing instructions as 'Give me a DD instead of depositing Prin. Amount of FD into that joint savings a/c' after maturity which was allowed as she carried orig. cert and wrote all this on the back of FD.

 

Probably the branch manager gave her that advise.

 

Otherwise I wud have definitely tried to get the amount withdrawn as cash with my signature alone from the savings a/c if Prin. Amt. money had gone back in that a/c.

 

Is there any remedy that wud help me?

 

legal experts in finance please advise me.

superfast munnabhai (trainee)     20 October 2010

Bank manager told me 'it doesn't matter about first or second name in FD, and it matters only for tax deduction in whose name?'

 

They issue form16-A for first name, for rest all matters both are entitiled as 'either or survivor'.

 

I am feeling helpless now. I did argue with that bank manager also but in vain.

Arup (UNEMPLOYED)     20 October 2010

at this stage avoid arguement.

take help of the concerned agent.

here matrimonial disputes discussed.

put yr matters in civil, property and taxation secs.

there you will get the desired result

copy and paste your matter there.

2 Like

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