Legal Question in Banking Law in India

Dear Sir, i have a bank dispute with PNB bank where in my father filed an application for allotment for RBI Bonds in 2002 showing himself as 1st applicant, my mother as second and my self as 3rd applicant. The application was handed over to an PNB agent on 4th Oct., 2002 and on 5th Oct, my father suffered heart attack and he passed away. Bank refused to allot the bonds in the stated names in the application by stating "Party Reported Dead" as the bank was informed by my sisters about his death. The amount from which the RBI bonds were to be issued had no nominee as per bank. My father executed his hand first written Will and second one typed english Will. Both Will barred his own daughters for taking any share for his properties. Since bank is not willing to issue the bond neither bank is giving the money on pretext that Will should be probated. I have told bank in Delhi probate of Will is not required but bank still insist on it. My sisters has got the issuance of bonds stopped by simply giving an application to the bank. They also filed injunction suit and asked court to give them their share from the property. They were granted permanent injunction by the lower court but on the appeal filed by us (me and my mother) the court set aside the injunction order by stating that Will bars them from taking any share in the properties of their father. My sisters also filed succession suit on the said amount lying with PNB from which the bonds were to be issued, but after 6 years they themselves withdrew it. Bank asked for either succession certificate, court order or probate of Will to release the money. Since succession suit filed by my sister and later withdrew it. The court passed the order regarding succession suit "Dismissed as Withdrawn" (2009 order). on the basis of registered will i got my property mutated in my name. My sisters also informed bank that they are fighting succession suit against me and my mother and bank should wait for its decision. Later they themselves withdrew it after seeing the outcome of property case which was dismissed on the basis of Will. Bank is enjoying our money since 2002. Now there is no court case or succession pending in the court. Bank stated that since there is legal court case pending (succession suit 2003) in the court thus cannot release the money. Now since the case was dismissed by court as it was withdrawn bank still doesn't want to release the money. I told bank to keep the money in FD as we are losing big interest on it, but bank did not oblige and SB interest is been getting accrued.

I want to ask you Sir :

1. After the Session court passed the order and set aside the injunction order regarding the property on the basis of Will, why is that bank not respecting the court order and taking this judgement into consideration.

2. Now the succession suit has also been withdrawn and court order has also been provided to the bank, and i being the beneficiary of the amount, why bank still not adhering to its own words where in it asked to furnish the court order. Once it was furnished bank still not releasing the money as insisting on probate.

Please help and advice.

Rajeev Chawla

Email : [email protected]

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