One of my closely known family jointly holds a Savings account with Punjab National Bank ,(erstwhile U.B.I.) with the name of Wife aged 78 years as 1st. Holder and Husband aged 82 years and their young divorced daighter as joint holders. The family is dependent on interest earnings from their splitted up deposits in the name of wife and husband, which they are holding with the Bank branch. All the accrued interests on their deposits are being credited in the aforesaid Savings account maintained by them. They are fully dependent on their interests income for all family expenditures including their compulsory medical needs as they are both super old and are of weak health.
Suddenly, this month when they wanted to withdraw amount from the account for Family need, they were shocked to find that Bank has set aside an amount of ₹ 100,000 (One Lakh), due to lien reportedly created by their Asansol branch on this S.B. account as one of the joint holder ( their young divorced daughter) stood as a Guarantor for a loan availed by a medical shop of Asansol.
It revealed that their daughter got married to a business family in Asansol, who were having a medical shop for which they availed credit from PNB, Asansol. The in- laws reportedly insisted her to stand as Guarantor for their loan, and she acceded to the request of her, father-in-law. She is not much aware of the documents they got executed by her and is also not aware of the creation of lien. She of course recollect to have signed some documents placed to her for signature. Presently, for ill-treatment of her husband and in-laws, she was compelled for divorce prayer. Now got divorced in 2021.
The age-old unhealthy couple who are now in an extremely distressed stage with no alternative avenues for them, seek guidance/suggestions to come out from this distressed situation. Whether Bank is in order in creating a lien on the SB account whose 1st. Holder is the age-old lady? What action should the couple initiate against the Bank for their creating the lien without knowledge of the age old couple? Help requested from the knowledgeable persons for which they express their gratitude.
