Nationalised Bank allowing HUF to self-styled Karta
Querist :
Anonymous
(Querist) 15 May 2010
This query is : Resolved
PPF maturity of deceased father's HUF having been handed over to one of the coparceners without others' consent by a Nationalised Bank, has since been allowed to be misappropriated by another Nationalised Bank where the self-styled Karta manipulated to open and operate Bank Accounts in the name of our father's HUF. Though required to obtain the mandatory Form F303 as declaration from all coparceners with their signatures/identity, the erring Bank has conveniently overlooked their Bank's own norms and allowed withdrawal of lakhs of Rupees worth of Deposits to only one of the coparceners. How and Who could be proceeded against for such misappropriation of HUF funds?
