Accidental money transfer by company

Definitely the company will initiate legal action for recovery of the amount. First the Accountant will be fired.

but he dont want to return money

Ten he will face problems

Under which section/law?

money recovery suit

Did the company settle the financial accounts of the employee?

Did he ever demand any compensation from company and is there any written record?

If yes, the concerned employee may like to rake up the issue, however it can not be forecasted he would succeed or not…………………….The limitation period may also be 3Y in case of this employee.

The bank may also block the withdrawal upon receiving complaint from originating bank, and may debit it back to originating bank.

You may go thru an informative thread;

 https://www.lawyersclubindia.com/forum/Online-fund-transfer-through-bank-86402.asp#.UiRir9KAqWM

he had 20000 as performance pay which company declined

Even if you add interest to this amount it won’t become amounts credited by oversight.

Approach your lawyer with copies of all docs on record and proceed under expert advice of your lawyer.

The lawyer that has seen all dos on record and has analyzed the inputs can advice you best.

what happens if company files FIR against him and accountant and police has him for cheating in connivance.

the person is not at fault

I have a similar case. I am an ex service man retired in Jan 2009. As per the norms I had to open a joint pension acct with my chosen bank . PPO was recd by me as well as the bank for a pension of Rs 14000/-pm .Later as per 6th pay commission another PPO was supposedly sent to me as well as a copy to the banker. All my terminal benefits were also credited in that acct. Fixing of new pension was done supposedly by the bank itself and a lumpsum money credited. On 01/02 Jan 2010 my pension acct was hacked for Rs 90000/- in 11 instalments supposedly from Nigeria,Australia & Canada but deposited with the accts held in different branches of the same bank. They blocked my acct to safeguard and also compelled me open another savings bank acct in the same branch. When I demanded my money back and also complained to Banking Ombudsman Hyderabad they declared the transfer as valid internet transfer and no reason was cited why they blocked my acct, got another acct opened and did not block the beneficiaries accts in their own branchs. Banking Ombudsman gave the verdict in their favour and termed it as valid internet transfer.

Now a letter is recd where they claim that a sum of Rs 15 lacs in two instalments have been paid in excesss as they were made twice one by their central branch to my pension acct which is still blocked for internet purposes and by the branch which credited the same in my new acct . Those were made in Mar 2010 and now detected..They claim that it was due to hacking of my pension acct and opening of a new acct. Those were dues for my dis ability pensions.

Except the old PPO i have nothing in my possession to know what all were my dues and how they were calculated. I have been asking them to provide me the calculation sheets based on which my dues were calculated and credited. I have asked CDA pension to help me in this regards. Neither the bank nor the CDA has replied to my letter. I have personally visited the branch, met the manager and asked him to show me the records to buttress their claim. It was assured but not yet provided.

For the month of Aug they delayed posting of my pension in my pension acct..it was credited only on 20 Aug. Since the issue of their letter they have blocked my internet acct for my new saving acct created in 2010. They have blocked both the debit cards and also refused me forclosure of one of my Term Deposits held in my name with them..In gist I am being seriously harassed but they are not ready to provide me details of the documentary evidence which will satisfy me that the amount in question is not my terminal benefits or dues but paid in excess with or without vested inetrest.

Pl tell me how to tackle this menace as at this stage it is not possible for me to pay back complete amount even if it is proved beyond doubt that it was paid by mistake. 

you said "the person is not at fault"

is he sure that money belongs to him?

If not the read S/ 410 of IPC

Section 410. Stolen Property

Property, the possession whereof has been transferred by theft, or by extortion, or by robbery, and property which has been criminally misappropriated or in respect of which ¹[***] criminal breach of trust has been committed, is designed as “stolen property”, ²[whether the transfer has been made, or the misappropriation or breach of trust has been committed, within or without ³[India]]. But, if such property subsequently comes into the possession of a person legally entitled to the possession thereof, it then ceases to be stolen property.

the money is transferred by the account.  You say it is mistake and complainant will say it is fraud.

Tum kahlo sharm isko hum to ada kahenge

@ Haridas Mandal,

Banks are responsible for phishing fraud.

Banks are responsible for hacked accounts of customers.

You may go thru following threads and get in touch with the organization/NGO’s and keep an experienced banker and lawyer specializing in such matters by your side.

The following threads and attachments shall be relevant and helpful in your case.

https://www.lawyersclubindia.com/forum/Internet-fraud-72353.asp#.URy5MTcw9JI

Discussion > Business Law > Banking > Internet fraud

https://www.lawyersclubindia.com/forum/Fradulent-transaction-from-my-bank-account-72268.asp

What about the second part of the problem..The bank claim that it has excess paid in 2010 and wants money back with interest..not ready to show me calculation sheets or audit report which establishes the truth..what do I do?