The principle of 'either or survivor' does not apply to bank lockers when a valid Will bequeathing the contents exists, allowing the holder of the Will to claim ownership without needing co-holder consent.

JUDGMENT :

EASWARAN S., J.

Does a surviving account holder of a joint account of a bank locker have the right to take the articles inside the locker by applying the principle of “either or survivor" ignoring the rights of a legatee under a Will?.

2. This appeal by the 1^st defendant raises certain intricate questions on the principles of “either or survivor”, which is normally found in a joint account with a bank. In the present case, the dispute is regarding the operation of a locker kept in the 2^nd defendant – Canara Bank by late Sreedevi S. Kammath, which contains approximately 180 sovereigns of gold ornaments. The plaintiff claims that, based on a registered Will executed by late Sreedevi S. Kammath, he has an absolute title over it, whereas the 1^st defendant/appellant claims that the ornaments were gifted to her by late Sreedevi S. Kammath and that, going by the principles of “either or survivor”, on the death of one of the joint holders of the account, the entire gold ornaments inside the locker will automatically vest in her. In addition to the above, she also claims that the ornaments belong to her as they were gifted by late Sreedevi S. Kammath and thereby setting up an independent title.

3. The brief facts necessary for the disposal of the appeal are as follows:

3.1. The plaintiff sued the 1st defendant/appellant when there was a refusal on the part of the 1^st defendant to return the entire gold ornaments kept inside the locker with the 2^nd defendant - bank. It is an admitted fact that, a locker was opened with the Canara Bank, Banerji Road, Ernakulam Branch, by late Sreedevi S. Kammath and the appellant on 19.04.2013. Late Sreedevi S. Kammath had deposited all the gold ornaments inside the said locker. Before the aforesaid act, late Sreedevi S. Kammath had executed a registered Will bearing No.131/2016 dated 30.01.2009, by which, it is stated that she has bequeathed her entire gold ornaments (Meyyabharanangal) to the plaintiff. According to the plaintiff, late Sreedevi S. Kammath died on 27.03.2016 and there were attempts by the 1^st defendant/appellant to open the bank locker and remove the contents of the locker and hence, necessitated the filing of the suit seeking for a permanent prohibitory injunction restraining the 1^st defendant from opening the joint account and also a consequential mandatory injunction directing the 2^nd defendant - Bank to hand over the entire gold ornaments.

3.2. The 1^st defendant contested the suit contending that, late Sreedevi S. Kammath had gifted her ornaments to the 1^st defendant absolutely and the 1^st defendant and her husband felt that those ornaments should be equally distributed among all the relatives and they had shared the thought with late Sreedevi S. Kammath. Thereafter, late Sreedevi S.Kammath had informed the 1^st defendant that she had absolutely given the ornaments to the 1^st defendant and she wanted the 1^st defendant to use the same and it is for the 1^st defendant to decide as to what should be done in respect of the gold ornaments. It was further contended that, after the demise of Sreedevi S. Kammath, the elders of the family met and discussed how the assets should be dealt with and the 1^st defendant informed at the gathering that a few of the gold ornaments gifted to her by late Sreedevi S. Kammath are kept in the bank locker and though the ornaments absolutely belong to the 1^st defendant, she is willing the distribute the same with her relatives. It was further stated that, the plaintiff was also present in the meeting and agreed to the same. As regards the Will, it was submitted that, going