Legal Question in Banking Law in India

Dear Law Guru

Namaskar

I am Dr P Singh, an NRI presently living in U.A. E. and my wife is based in UK.

I opened a joint account with my wife in Sept 1996 with SBI C&I, Mumbai Branch. In 2003, my wife filed a case for divorce and wrote to the Bank which froze the deposit account(s). On my request bank transferred one of the accounts in the names of my children on the renewal date of the account. I have an email from the bank to prove it. My wife in lieu of payment agreed to transfer the main deposit account in my name and issued an irrevocable mandate to that effect with a clause "no claims whatsoever against bank and me".

In 2009 and before getting the mandate I asked SBI C&I to provide me a template to prepare such a mandate. I submitted a template to SBI C&I for approval which they did. I submitted the final mandate to SBI C&I last December 2010. SBI C&I has refused to transfer the account on one pretext or the other and now has even revoked the ownership of the account transferred in the names of my children. The deposit account is Either or survivor according to SBI C&I.

I need help and guidance desperately. I can if necessary provide all the relevant documents to you if You let me have an email address and specific name.

Thanking you.

Dr P Singh


Asked on 3/20/11, 10:55 pm

1 Answer from Attorneys
J. Radhakrishnan independent Practice

you may contact me by sending an e mail to '[email protected]' giving details of your place of working and residence in U.A.E. and contact telephone no. As I am presently in Dubai on a visit to a relative, I may if it suits me inform you if it is possible to have a personal meeting wherein your documents can be examined and advice rendered as also the terms on which the advice can be rendered.

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Answered on 3/21/11, 11:55 am


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