Legal Question in Banking Law in India

banking

an account is held in two names, mode of operation either or survivor, one of the holder dies, can the second holder add another person name to this account and continue operation?


Asked on 6/29/09, 1:05 pm

4 Answers from Attorneys
J. Radhakrishnan independent Practice

Re: banking

The answer is 'YES'. The request should be signed by the survivor and the new joint holder both subscribing to either or survivor mandate and to be bound by the rules relating to that deposit

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Answered on 6/29/09, 10:59 pm
Pranav Desai PD Legal & Associates

Re: banking

Already answered.

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Answered on 7/07/09, 1:48 am
Sudershan Goel India Law Offices of Sudershan Goel - Advocate

Re: banking

Yes. However, you may need to complete necessary formalities with the Bank.

The Bank may prefer to close the previous account and open a new account.

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Answered on 6/30/09, 7:24 am
Aniruddha Pawse Aniruddha.P.Pawse Advocates

Re: banking

yes you can request the bank and complete formalities

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Answered on 7/03/09, 12:54 am


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