Legal Question in Banking Law in India

My banker is claiming recovery of Safe Deposit Locker Rent, since 1999, as they claim that the Locker was not surrendered. I remember of having surrendered the Locker. Now the bank has been claiming recovery of rent for last 16 years. Law of Limitation is applicable in this case?


Asked on 5/25/16, 7:01 am

2 Answers from Attorneys
Dr Katta Venkata Rama Krishna Drkattavrk

1) Locker rent due is not considered as 'Debt' as per recent SC judgement.

2) Find out facts from the bank and go for OTS or contest the claim.

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Answered on 5/25/16, 7:29 am
Fca Prashant Chavan Expert Edge LLP

26.05.2016

Dear Sir / Madam,

No. the law of limitation does not apply. If you have already surrendered the locker, produce documentary evidence with the Bank's acknowledgement date and refute the Bank's charges. Otherwise, pay up the outstanding locker rent till date to the Bank and obtain the receipt and close the locker facility obtaining an acknowledgement from the Bank.

Regards,

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Answered on 5/25/16, 8:17 am


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