Legal Question in Banking Law in India

My father has deposted 4.0 lac rupees in form of FD in UCO Bank and he was expired two years ago.

I have obtained succession certificate from the court in my favour.

when I applied for deceased cliam at bank along with succession certificate the branch manager asked me to submit Indemnity Bond with two surety.

So, I want to know that Indemnity Bond is mandatory or not for those persons who is having succession certificate.


Asked on 2/23/11, 8:09 am

3 Answers from Attorneys
Devansh Bhardwaj Devansh Bhardwaj

ACCORDING TO ME NOW THE BANK HAS GOT NO RIGHT TO ASK FOR INDEMNITY BOND. ONCE YOU HAVE GOT THE SUCCESSION CERTIFICATE FROM THE COURT OF LAW.

FOR FURTHER DISCUSSIONS IF ANY YOU CAN CONTACT ON 9415109404 OR ON [email protected]

DEVANSH BHARDWAJ

ADVOCATE

LUCKNOW

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Answered on 2/23/11, 8:19 am
J. Radhakrishnan independent Practice

The Bank cannot seek indemnity when the claim is made on the basis of a Succession certificate. Complain to Banking Ombudsman for relief and compensation

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Answered on 2/23/11, 8:26 pm
RAJIV GUPTA (Cell: +91 9811284735) [email protected]

in case you have already submitted the indemnity bond in the court of law, there is no need to submit it again to the bank.

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Answered on 2/23/11, 9:08 pm


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