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VISHAL DHAGAT
Shah Bano Khanam – Appellant
Versus
UCO Bank – Respondent
JUDGMENT :
Vishal Dhagat, J.
1. Petitioner has filed present writ petition making a prayer to issue writ of mandamus to respondent permitting the petitioner to operate the saving bank account No. 14920100000366 after completion of formalities as per master circular dated 02.07.2012.
2. Short fact of the case, is that, the petitioner namely Smt. Shah Bano Khanam has a joint account with her husband namely Nawab Ahmad Yar Jahangir Khan. Her husband expired on 02.03.2019. Despite the fact that petitioner was having a joint account with her husband, she is not allowed to operate the account by the Bank.
3. Learned counsel for the petitioner submitted that Clause-6.2 of master circular of Reserve Bank of India, which is binding upon the respondent provides as under:-
Proper joinder of necessary parties and adherence to legal procedures are essential in seeking relief in matters involving disputes over bank accounts and succession rights.
Banking institutions are obligated to secure the consent of all legal heirs of a deceased account holder before disbursing funds from the deceased's account.
The court affirmed that a succession certificate grants legal heirs entitlement to deceased's bank deposits, overriding nominee claims under the Banking Regulation Act.
In cases where the bank account does not mention a nominee, the claimant may be required to produce a succession certificate from a competent Court of law to establish the right to the amount.
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