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Raj   03 September 2016

Nominee not disclosing bank fd and sb details

Hi Legal experts

I want legal opinion from expertson the below points,

My father expired last month and he has made few FDsand SB account in co operative society banks, for most of the FDs he has made my mother as nominee,  some on my name and my 2 sisters name,

I wanted my mother to disclose the FDs and settle among the legal heirs, unfortunately she is denying to disclose the amount in FD, she is mentioning that she is nominee and she will not share the amount and also she is telling that some of the FDs which has my sisters name as nominee are deposited by them and has to be transfered to them only but she is not disclosing that details also, I feel that she want to dispose some of the FDs and give money to my sisters without my knowledge

To know the details of amount in FD, I approached bank, but they refused to provide the details and they said nominee has to come with me to get the details,

What can I do next, please suggest.

Regards

Raj

 



Learning

 8 Replies

Kumar Doab (FIN)     03 September 2016

RBI; Master Circular ON Customer Services; Clause 19 & 20

 

The bank can pay to nominee and discharge its responsibility until or unless there is a stay by court of law.

 

If there is no WILL left by your father his estate shall devolve equally upon his ClassI legal heirs.

 

Why don't you try for amicable settlement of family matter!

 

 

 

 

Suri.Sravan Kumar (senior)     03 September 2016

I agree with Kumar Doab

N.K.Assumi (Advocate)     04 September 2016

Yes, nominee status is akin to care taker and not the owner. followed the expert suggestions.

G.L.N. Prasad (Retired employee.)     04 September 2016

First obtain Legal heir certificate from competent authority, enclose the same and seek information from Co-op Bank seeking details of your deceased father's deposits.

Also issue notice to your mother to disclose the correct details of fixed deposits standing in your deceased father's name.

This is a family matter.  Your father might have  anticipated and distributed that amount as per his wish, as the funds are his self acquired.  Respect the departed soul and let the directions given by him as he wish, as he has also nominated you.  Respect mother's sentiments and once it is given to her, your father might have treated that it may cover for her expenses, and she is entitled to give the amount as he likes as her own.

(This is not a legal advice)

Ajit Singh Cheema (practising Advocate)     04 September 2016

Mr.Raj ,

Be very clear that the nominee has to recieve payment of deposit of the deceased , for and on behalf of all the legal heirs and not in his personal capacity.The amount recieved has to be divided among all the legal heirs.

Raj   04 September 2016

Thanks for reply

My father and mother were staying along with me and I was taking care of all there requirements including huge medical bills of my father.

I am worried why my mother is refusing to show the details, where as she has disclosed the details to my sisters,

Now how can I get stay from court to stop the transactions.

 

 

Suri.Sravan Kumar (senior)     04 September 2016

Since it is your family issue discuss with your mom and sisters and try to solve the issue amicably.

Kumar Doab (FIN)     04 September 2016

Spouse and Children have the responisibility of maintaining the ailing father.

Try to resolve amicably.

Your mother is staying with you.

Talk it out gently.

 

If required and possible involve nuetral elders.

Or your own counsel can guide you further.


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