• Dissolution of Fixed Deposit

Honorable court decreed creation of Fixed Deposit (FDR) in favour of my minor daughter, as she had a share in inherited property. This order has been complied with and the FDR has been created.
I want to take my minor daughter abroad for good. For this, I need the FDR dissolved; so that I can prove that she(my minor daughter) has enough funds to support herself and cover her expenses.
My question is:
1. Under what section, act should an application/ petition be moved in the court?
2. Can this application/ petition be moved in any court or would it be better to go to the same court that delivered the above order-FDR (given the fact that this court is 75kms away from my residence)
Asked 7 years ago in Family Law
Religion: Hindu

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3 Answers

you have to make application to court that passed order for placement of share of minor daughter in FD

2) Section 8 of Hindi Law of Minority and guardianship Act 1956 deals with the powers of natural guardian over the person and property of the minor children,

3) you have to make application under section 8 of Hindu minority and guardianship act to the court

4) the court will accord permission to the guardian for any of the foregoing alienations only in case of necessity and evident advantage to the minor. Sub­section (4) makes it evidently clear that the guardian will be accorded permission by the court only when he is able to convince the court that case of necessity and advantage to the minor exists, otherwise the court will not accord permission

Ajay Sethi
Advocate, Mumbai
95208 Answers
7610 Consultations

5.0 on 5.0

1. Under section 8 of the Guardian and Wards Act you can sell the proeprty of minor for the purpose of welfare of the child with the permission of court.

2.So under the same section you can apply for permission of court to redeem the FDR s for the purpose of higher education of the child. it is permissible.

3. You have to apply in the same court which passed the ealrer order.

Devajyoti Barman
Advocate, Kolkata
22920 Answers
498 Consultations

5.0 on 5.0

You have to file a permission petition before court to cancel the FD now lying on the minor's name, you forget about the section, your advocate will take care of the sections and rules in this regard.

You have to apply for permission before the same court which passed the order to make this deposit.

T Kalaiselvan
Advocate, Vellore
85409 Answers
2237 Consultations

5.0 on 5.0

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