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A B Pralhad (Student)     08 February 2015

How to get fixed deposit amount from fraud multistate bank.

Hi, My father has fixed deposit of Rs 10 lac in "Bhaichand Hirachand Raisoni" Multistate bank, Jalgaon-Maharashtra. That bank has done fraud and the branches are closed now. My father has 10 slips of 1 lac rs and all slips are matured in Dec 2014. But now BHR multistate bank is denying to give money back. There was a fraud happened in bank hence that bank offices are closed and they are not giving our money back. Also not entertain us properly when meet or goto their local area offices where my father has done that fix deposit. Bank says that once we collect our loan amount given to people then will pay to you but there is no specific period for that or timeline? And no written statement from bank. I am thinking of going to consumer court and file a case against bank? My father need money for medical operations. Can you please suggest what are the legal way to get our money back? How do we get our money back?



 15 Replies

Kapil Chandna (Lawyer at Supreme Court of India)     09 February 2015

Dear, File a complaint for criminal breach of trust against the bank and simultaneously send a legal notice ..... Kapil Chandna Adv 09899011450
1 Like

G.L.N. Prasad (Retired employee.)     09 February 2015

There is no chance of getting your money back.  Even if the Bank is licensed and insured the deposit the maximum that that can be settled through insurance is maximum one lakh.

Govt. Might have already appointed one Liquidator or receiver or some Special Officer.  You have to get a working relationship with Employee/Exemployee or some well known depositor of the bank and should get latest position on the Bank.

Depositors also might have formed a joint association to fight out.  Such things take their own time and it is better you make alternate arrangements.  First send a Registered notice with copies of all deposit receipts and demand for payment of deposits.  Then you may receive some information and then you can decide further course of action.  Do this immediately.

1 Like

Kishor Mehta (CEO)     09 February 2015

Sir,

Please immediately approach the appropriate Consumer Court of your area for a quick redressal of your grievances that is the best, quickest and financially viable recourse for your case.

Good Luck,

Kishor Mehta

1 Like

Ompal Aggarwal (Advocate)     09 February 2015

I agree with Mr. Kishor. Approach consumer court n sent legal notice also along with photocopy of deposite receipts
1 Like

Adv k . mahesh (advocate)     10 February 2015

i to advise like GLN Prasad first enquire about other depositors what they had taken steps and accordingly you can go by that step 

1 Like

A B Pralhad (Student)     10 February 2015

There are number of FIR filed against the director board of "Bhaichand Hirachand Raisoni multistate credit society ltd "and they got arrested and released on bail.  But the status of the things are not known to anyone and what actions to do?


Still we need to know can we individually go to consumer case for our money?   Or whar are the steps can be followed?

T. Kalaiselvan, Advocate (Advocate)     11 February 2015

Yes you can approach the consumer forum, police station and civil court for recovery of money, consult a local lawyer and proceed.

1 Like

G.L.N. Prasad (Retired employee.)     12 February 2015

Any person individually fighting against institution have it's own problems.  Some how keep in touch with those depositors and learnt their way of approach, fight it out as a group.

\If some one have already filed CP complaints, file RTI Application to District Forum and seek information from them on names of complainant's and addresses.  Write a letter to them or contact them personally.  Pool some 2% of money involved as initial deposit, elect some office bearer with a legal background and meet once in a week and chalk out a programme

advprasad9028707127   28 May 2015

Rightly File complaint before Consumer fora of your district U/s 12 of CPAct against body of BHR, and get order expediatly, then file Execution proceeding either U/s 25 if you want to recover amont through auction of BHR's properties or U/S 27 for criminal action against them. It is one of the best way.

rajan rajagopalachary   27 July 2015

I have also made a deposit of Rs.3.50 lacs with BHR, my deposit matured in may 2014,

they have not paid the FDR Amopunt inturn advised me that you would gt 20% amount

in savings account which i can withdraw the rest have converted into a FD for 2 years.

The problem with BHR is all the directors are arrested every now and then because of FIR'S 

filed by depositers against them.as a matter of fact there is no poisitive result. the directors

are enjoying themselves since they are not answerable to the depositors directly and feel 

comfortable  since they are protected by the police.

we have to find out a way out to secure and get our hard earned money. so collectively

we should interact, communicate over phone/email . if we go to jalgaon there is nobody to

reply suitably and our efforts are in vain. we have to approach the Central and State Govt through some political leaders who would get us the justice.

 

 

RAJESH KULKARNI   13 October 2016

Respected Sir,
Today I received letter from Liquidator BHR refering order Dt.27/10/2015 issued w.r.t. Central Registrar Department of Agriculture & Cooperation New Delhi that amount under Rs.10000/- can be refunded by filing form with KYC norms it is also mentioned that the original FD receipt duly signed on the back to send by Registered post to Liquidator office Bhaichand Hirachand Raisoni Multi state Cooperative Credit Society Ltd, E-2/3 4,5 Raymond Chufuly, Ajintha Road, MIDC, Jalgaon 425001 Maharashtra.
I have two questions to ask in this regard :- 1) Whether it is correct (safe) to send the original FD receipt by registered post ? 2) Shri Jitendra Gulabrao Kandare, District Deputy Registrar of Co-operative Societies, & Liquidator, Yavatmal, Cooperation, Marketing & Textile Department, Government of Maharashtra, Pune Date of Appointment Order 27.10.2015 Liquidation Order valid up to Date 26.01.2016.   Whether the Liquidation order BHR is refering is still valid ?

Sir, please guide me,
Regards,

rajeshrameshkulkarni@gmail.com

RAJESH KULKARNI   13 October 2016

Respected Sir,
Today I received letter from Liquidator BHR refering order Dt.27/10/2015 issued w.r.t. Central Registrar Department of Agriculture & Cooperation New Delhi that amount under Rs.10000/- can be refunded by filing form with KYC norms it is also mentioned that the original FD receipt duly signed on the back to send by Registered post to Liquidator office Bhaichand Hirachand Raisoni Multi state Cooperative Credit Society Ltd, E-2/3 4,5 Raymond Chufuly, Ajintha Road, MIDC, Jalgaon 425001 Maharashtra.
I have two questions to ask in this regard :- 1) Whether it is correct (safe) to send the original FD receipt by registered post ? 2) Shri Jitendra Gulabrao Kandare, District Deputy Registrar of Co-operative Societies, & Liquidator, Yavatmal, Cooperation, Marketing & Textile Department, Government of Maharashtra, Pune Date of Appointment Order 27.10.2015 Liquidation Order valid up to Date 26.01.2016.   Whether the Liquidation order BHR is refering is still valid ?

Sir, please guide me,
Regards,
 

rajeshrameshkulkarni@gmail.com

G.L.N. Prasad (Retired employee.)     13 October 2016

1) Whether it is correct (safe) to send the original FD receipt by registered post ?

Keep two or three xerox copies, and submit the original if you wanted the money.   As and when there is recovery, you may get more amount

2) Shri Jitendra Gulabrao Kandare, District Deputy Registrar of Co-operative Societies, & Liquidator, Yavatmal, Cooperation, Marketing & Textile Department, Government of Maharashtra, Pune Date of Appointment Order 27.10.2015 Liquidation Order valid up to Date 26.01.2016.   Whether the Liquidation order BHR is refering is still valid ?

Immediately file application and seek confirmation whether the liquidation order of BHR is valid.  Infact, you have received because the process has commenced.  Immediately after finalisation of process on 26-1-16 , depending on the amount available with liquidator, now they are offering to pay proportionate amount or fixed amount to depositors.

 

Kishor Mehta (CEO)     13 October 2016

Sir,

When a specific date is stated in the order of the Liquidator you better abide by it, and ask for his specific confirmation if you want to send the receipts at a later date.

It will be in your interest to get the copies of the receipts notarised, and take the permission of the Liquidator to send the notarised copies for redemption.

Good Luck,

Kishor Mehta


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