Collusion of bank to unfreeze partnership bank account and withdrawal of funds to partner personal a

If you have documentary evidences to prove that the bank manager had done this fraud then you can make a personal complaint against him with the higher office of the bank i.e., the regional manager besides dragging the bank to consumer redressal commission with a complaint for unfair trade practice and also for deficiency in service.

You can oproduce the document copy by which you have instructed the bank to revoke the exclusive permission to given to the other partner for operating the account. 

You can also lodge a criminal complaint against the bank manager in his personal capacity for the acts of cheating and fraudulent acts and breach of trust by  helping your partner to swipe off the company funds 

Did you revoke the permission to operate bank account through an amendment to original partnership deed or agreement signed both of you or through a letter?

You likely have grounds to take legal action against the bank for allowing the unauthorized withdrawal of funds from your partnership account. Here's why:

Fiduciary Duty: Banks have a fiduciary duty to act in the best interests of their customers. This includes protecting their accounts from unauthorized access. In your case, by revoking your partner's authority and informing the bank, you established that any further withdrawals without your consent would be unauthorized.

Partnership Agreement: Even without a formal written agreement, as partners, you likely have an implied agreement on how the bank account is operated. Withdrawing all funds without your knowledge or consent would likely violate this agreement.

Here's what you can do:

Contact the Bank: First, file a formal complaint with the bank outlining the situation. Provide copies of any documentation you have regarding revoking your partner's access, such as emails or written communication with the bank.

Legal Action: If the bank is unresponsive or refuses to acknowledge your claim, you may need to pursue legal action. A lawyer specializing in commercial law can advise you on the best course of action.

Potential Claims: Your lawsuit could potentially include claims against the bank for:

Negligence: The bank failed to uphold their duty to protect your account

.Conversion: The bank aided in the unauthorized transfer of partnership funds.

The specific legal arguments will depend on the details of your situation and the laws in your jurisdiction. However, based on the information provided, you have a strong case for taking legal action against the bank.

Here are some additional points to consider:

Gather Evidence: Collect any documentation related to the bank account, your communication with the bank regarding revoked access, and any information about the unauthorized withdrawal.

Partner's Action: You may also want to consider legal action against your partner for misappropriating partnership funds.

Originally posted by : kavksatyanarayana

Did you revoke the permission to operate bank account through an amendment to original partnership deed or agreement signed both of you or through a letter?

Dear sir

I would like to inform you that we have not amended original partnership deed, what i did at the the time of opening Partnership Current Account is i have given authority to other partner to operate bank account alone but once dispute started with other partner i have informed to the bank by way of letter that Authoritiy given by me at the time of opening of bank account is revoked and request the bank to not allow any withdrawals in the Partnership Current bank account, and I have taken bank acknowledgement on that letter. Firstly bank freezed bank account based on my letter but after few days that other Partner went to bank and submit one letter that stating  that we dont have partners disputes and if we have any disputes we will solve ourselves, on that basis the bank manager has unfreezed bank account without my knowledge and consent.

In the given facts, the Bnak Manager cannot have activated the account without informing you.