A survivor under an 'either or survivor' deposit scheme is a trustee for other legal heirs unless explicitly granted exclusive rights via a gift deed.

JUDGMENT :

R. HEMALATHA, J.

1. The appellant is the plaintiff in O.S. No.37/2009 on the file of the Subordinate Court, Arani and she filed the said suit claiming half share in the maturity value of the suit deposit in the second defendant bank under Receipt number 123062 dated 22.01.2007 made by her husband Ramakrishna Reddiar (since deceased) along with the first defendant J. Vinu. She also prayed for a permanent injunction restraining the second defendant bank from disbursing the entire deposit amount to the first defendant and for costs.

2. For the sake of convenience, the parties are referred to as per their ranking in the trial court and at appropriate places, their rank in the present second appeal would also be indicated.

3.The case of the plaintiff in a nutshell is as follows :

3.1. The plaintiff is the wife of late Ramakrishna Reddiar. Ramakrishna Reddiar owned several properties including a rice mill. Since Ramakrishna Reddiar and the plaintiff did not have any issues, Ramakrishna Reddiar's sister's sons were assisting him in his business. Therefore, Ramakrishna Reddiar made several deposits including a sum of Rs.4,95,000/- with the second defendant bank under the scheme 'valarmathi deposit' on 22.01.2007 for 13 months. The said Fixed Deposit was made under 'either or survivor' scheme.

3.2. Ramakrishna Reddiar died intestate on 03.12.2007.According to the plaintiff, though Ramakrishna Reddiar and the first defendant jointly made the deposit with the second defendant bank, the first defendant is refusing to give half share to her in the said deposit. Therefore, the plaintiff issued a legal notice dated 03.03.2008 (Ex.A1) to the second defendant bank requesting them to pay half share in the fixed deposit. Since the said notice did not evoke any response from the second defendant, she filed the suit.

4. In the trial court, the defendants 3 and 4 remained absent and were set ex-parte. The suit was resisted by the first respondent on the following grounds:

i. The suit filed by the plaintiff is not maintainable.

ii. Late Ramakrishna Reddiar (the maternal uncle of the first defendant) and the family of the first defendant were living jointly in Devimangalam village and they were all doing business jointly.

iii.Ramakrishna Reddiar, during his life time, deposited various amounts in the names of the first defendant and his brothers.

iv. Since Ramakrishna Reddiar was a senior citizen, his name was added in the suit deposit as he would be getting 1% additional interest from the bank.

v. Since the said Fixed Deposit was made under 'either or survivor' scheme, the plaintiff cannot claim any right over the same after the death of her husband Ramakrishna Reddiar. In fact Ramakrishna Reddiar, during his life time, handed over the Fixed Deposit receipt to the first defendant. Therefore, the suit filed by the plaintiff is liable to be dismissed.

4.1.The second defendant in his written statement made the following contentions.

i. Late Ramakrishna Reddiar and the first defendant jointly deposited a sum of Rs.4,95,000/- under Receipt number 123062 with the second defendant Bank. The said deposit was made for a period of 13 months.

ii. Unless the original Fixed Deposit receipt is produced by the plaintiff, the bank cannot disburse the amount to her.

5. On the basis of the above pleadings, the trial Court framed necessary issues and posted the case for trial.

6. The plaintiff examined herself and one another witness and marked E