PATIALA CENTRAL COOPERATIVE BANK Vs. KULDEEP SINGH

JUDGEMENT

(1.) KULDEEP Singh respondent deposited a sum of Rs. 45,000 in the name of his mother Khuspal Kaur on 19.6.1997 with the appellant bank in the shape of fixed deposit receipt bearing No. 003507. Originally it was issued for six months but it continuously being renewed after six months. Lastly it was renewed on 16.7.1999 with effect from 19.6.1999 for one month only. The respondent himself used to get renewed this FDR even during the life -time of his mother.

(2.) IT was further pleaded that during the continuity period of the Fixed Deposit Receipt, the mother of the respondent expired on 1.6.1999. The respondent informed the Branch Manager about the death of his mother Khuspal Kaur and a copy of her death certificate was also given to the Branch Manager of the appellant Bank. The maturity date of the FDR was 19.6.1999.

(3.) IT was further pleaded that after the date of maturity the respondent presented the FDR in person along with death certificate of his mother and he applied for withdrawal of the amount of the said FDR. However he was informed by the officials of the appellants that FDR was joint. Therefore the death certificate of his mother was required and thereafter the amount would be transferred in the savings bank account of the respondent. The respondent was also directed to open a savings bank account in his name in the said Branch of the appellant Bank. The respondent complied with immediately. Thereafter the amount of FDR along with interest thereon was credited in the savings bank account No. 2606 of the respondent.