Bank has mistakenly refunded the bail amount
Mohit
(Querist) 12 January 2016
This query is : Resolved
Hi
One of my friend was arrested in a wrong criminal case 5 years ago but he got bail against an amount of 75000 for which one his family member produced a SBI bank FD worth 75,000 Rs.
Yesterday the same got matured & during the renewal process this gentleman requested SBI bank to credit the interest in his account & renew the FD but by mistake the bank guy has credited the entire amount in his account.
Now what is the next step as the FD is encashed due to bank's fault, should they make a fresh FD or something else is required.
rajagopal.s
(Expert) 12 January 2016
Hi
A fresh FD is mandatory and should be presented to the court. please do it immediately.
SAINATH DEVALLA
(Expert) 13 January 2016
Whether the bailor has requested or the bank has done it in default,the same has to be intimated to the concerned court n fresh bail bond has to submitted. If delayed could lead to complications.
Rajendra K Goyal
(Expert) 13 January 2016
Meet the Bank Manager, explain in writing whole episode and ask to reverse the entry and reissue the FDR.
Bank can rectify the mistake.
P. Venu
(Expert) 13 January 2016
Was the FD pledged in favour of the Court? If so, the fault lies with the Bank. Such pledged deposits are to be released unless authorised by the authority concerned.
Guest
(Expert) 13 January 2016
Enjoy the booty. Seems to be a hypthetical academic query, not a real one.
First of all the court keeps the FD in its custody along with the case, if presented in token of the bail. Secondly, the bank is not supposed to have employed idiots, who at their own discretion credit the whole of the proceeds of the FD, including principal amount, as against the request for credit of interest.
T. Kalaiselvan, Advocate
(Expert) 17 January 2016
A good and proper observation by expert Mr. Dhingra, I concur his views, the query appear to be hypothetical.
alexander
(Expert) 19 January 2016
this is what is called 'thinking out of the box ' bravo !
K.S.Srinivas
(Expert) 24 January 2016
I go with the expert Sri P.S.Dhingra.
