Legal Question in Banking Law in India

My brother had purchased a cash certificate concerning to Vijaya Bank of Rs.6000. and the maturity date was 1997. Unfortunately my elder brother died recently a year back. The knowledge about the certificate came to me only when i went through his Box containing some documents. what does the law say regarding this matter as to whether i can withdraw the money or not...?? Please help me out in this matter.

Asked on 8/29/11, 9:33 am

2 Answers from Attorneys

J. Radhakrishnan independent Practice

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It is not clear to which religion you belong. Assuming you r a Hindu, is your elder brother survived by his wife and or child or children. If there is wife and or child or children , they can claim the amount from the Bank and if your mother is also alive she can join them in claiming the amount. If your mother is not alive and if you are brother died unmarried, you and your brothers and sisters if any can claim the amount from the bank by producing affidavits from two persons stating that you are alone his heirs and you can claim to execute an indemnity bond in favour of the Bank. Approach the bank with the death certificate of your brother and cash certificate and seek their requirements for the legal heirs of your brother to receive the amount.

Answered on 8/29/11, 12:06 pm

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