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Indian Law/rights of nominee/ joint holder


I have read some of your answers on property disputes. Here, I have one question, which you can address with your knowledge.
My father expired two years back. He had bank deposits of about 10 lakhs out of which some have a nomination and some have a joint holder on either or survivor basis and some amount on hand drawn for treatment in last days. This cash is with a brother who is agreeing that it is father's amount.We have our mother and we are three brothers and three sisters. As  you had given a general indication, the daughters got slightly more over a period of time than sons , but they still have a legal right on left out property as per law.. Now whether the amount which has a joint holder will belong to joint holder or not is one of the questions. Our mother gets family pension. Our brothers say that she can live with pension and the amount be shared by three brothers. I feel that she should get 1/7 of the amount as there is no will and sisters should get 1/7 each. Another argument was that mother should get total amount which she can give off to any body, which I feel is again not legal, though appears right advise

In the event of death of the holder of the Fixed Deposit,the amount will be given to the survivin Joint-Holder/Nominee as mentioned in the Application form.Otherwise,it will be distributed as per the Succession Certificate to be issued by the court.It has no relevancy with whether your mother getting pension or not.In case,the holder dies after making a WILL, in the absence of Nominee/Joint Holder,it will be given to the persons mentioned in the WILL.However, you may consult the concerned bank and follow their advice in the matter.

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Arun Kumar Maitra


Contract Law,Companies Act,Sale of Goods Act,Partnership Act,Negotiable Instument Acts,Constitution of India,Arbitration Act,Consumer Protection Act,Maternity Act,Payment of Gratuity Act,Payment of Bonus Act,Shops & Establishment Act etc.The answer to the grievance of the particular online query depends on the facts of the particular case and law applicable to it.However,my comments relating to the various queries raised through the "All Experts" should not be treated as legal advices and should not at all be relied upon.I do not accept any responsibility for them.They will only give you some ideas about the probable merits of your cases.Ultimate actions/decisions in the matter may please be taken in consultation with the Legal Experts in the relevant fields.My purpose of giving the comments is to increase my own knowledge on the subjects and share it with others.It is purely of academic interest to me. I strongly feel the more knowledge we share,the more we shall be able to learn because there is neither any age nor any end to learning.


I have experience of dealing with matters relating to holdings of board/general meetings,maintenance of statutory registers,filing of necessary returns with the RoC,obtaining licenses for import,replies to Parliament Questions,dealing with the Parliamentary Committees,appearing before various courts to defend my employers,filing affidavits/counter -affidavits,preparing written statements/re-joinder,giving advice to management on complicated legal issues,preparation,drafting and vetting of contracts etc. I have more than 35 years of experiences to deal with the Company Law and Other Commercial Laws of leading Organisations in the country both in Public as well as Private Sectors.

Member,Inst. of Chartered Accountants of India Member,Inst. of Company Secretaries of India; Member,Bar Council of India Member,All India Management Association Member,Delhi Management Association Ex. Vice-Chairman,Durgapore Chapter of the I.C.A.I. Expert ,CA Club India Expert ,Lawyers Club India Expert,AllExperts Ex. Faculty ,I.C.S.I as well as I.C.W.A of India Retd. Co. Secy. & G.M.(Law)/NFL(A Mini-Ratna A Schedule Central P.S.U.),New Delhi Ex.V.P.(Secretarial Dept.),Jaiprakash Associates Ltd. Ex. Co. Secy.,MAMC(A Govt. of India Enterprise),Durgapore



Awards and Honors
Obtained ''A'' Grade Certificate in the Parliamentary Procedure from the Secy. General of Parliament in 1994-95.It was in connection with a training course conducted by the BPE for PSU Executives.

Past/Present Clients
I am presently working as a Company Secretary in Old World Hospitality Pvt. Ltd.located in Delhi.It is engaged in Hospitality Industry.It has Units in India and abroad.It has been given the responsibility to look after operation & Management of ''India Habetat Centre'' located at Lodhi Road,New Delhi.

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