• Deposit scheme FD

My father deposited X amount in NBFC dhanlaxmi finance,latur,maharashtra. That man gaved interest monthly till my father was alive.Father had taken 2 bond papers,two fd receipt,two blank cheques with his signature and photo and his Id.My father passed away due to heart attack suddenly. Till 2 months he gave interest monthly. Then we asked him to return the principal amount .He told us that he will return money.We waited for 6 months,but still he was not in mood of returning money back.I am a BAMS student studying at Mumbai.My whole education is dependant on that money.So please give me legal advice what to do..
Asked 2 years ago in Business Law from Latur, Maharashtra
obtain succession certifcate from court as your father died intestate ie without a will . 

1)issue legal notice to NBFC company to return the amount deposited by your deceased father 

2) if company fails to do so you can deposit the 2 cheques received from the finance company 

3) you can fill in the cheque amount only with the consent of finance company . 

4) if cheque bounces file complaint under section 138 NI for dishonour of cheque 

5) you can also file suit to recovery the money paid with interest 
Ajay Sethi
Advocate, Mumbai
45435 Answers
2669 Consultations

5.0 on 5.0

He is bound to return the amount i.e principal amount with interest. File a criminal complaint for breach of trust against him in the police station nearest to your house. It is an offence punishable with an imprisonment of up to 2 years.
Ashish Davessar
Advocate, Jaipur
22977 Answers
634 Consultations

5.0 on 5.0

Well, it is not clear the person is an agent or your father has deposited money with Dhalakshmi Bank only.If it is bank then money should not be defaulted with and if it is then your father can file case in consumer forum for get back the money.
If any private person has taken money with false promise of return then your father can file case of cheating.
Devajyoti Barman
Advocate, Kolkata
12807 Answers
165 Consultations

5.0 on 5.0

You should send a legal notice to NBFC for returning of principal amount otherwise you can file a complaint before district consumer forum. 

Forum has jurisdiction to provide relief towards banking services. Proceeding before forum is very swift and less expensive. You'll get relief shortly. 
Shivendra Pratap Singh
Advocate, Lucknow
5066 Answers
78 Consultations

4.9 on 5.0

No need to worry. 
You have plenty of options to recover your money. 
1) You can choose to file a complaint to the Superintendent of Police or District collector under Maharashtra Protection of Interest of Depositors (in Financial Establishments) Act, 1999 or
2) File a complaint t under section 58AAA(2) to the regional director of the Department of Company Affairs 
His address is Sh. K.L. KAMBOJ. EVEREST 5TH FLOOR. 100 MARINE DRIVE., MUMBAI - 400002
email : rd.west@mca.gov.in
3) You can choose to file a criminal complaint or civil suit, but in my experience, if you opt for point 1 and 2 problem will be solved faster. 
Hope this helps.

You will get your money back . no worries. 
Hope this helps. 
Rajgopalan Sripathi
Advocate, Hyderabad
1307 Answers
158 Consultations

5.0 on 5.0

The NBFC cannot dodge returning the FD amount even after the death of the depositor if other things are proper and there is no discrepancy in the death claim amount. 
First issue a legal notice to the finance company and failing to receive any reply in a reasonable period of time, you may file a money recovery suit in the civil court besides dragging the finance company to the consumer forum for redressing the grievances and compensation for deficiency of service.
T Kalaiselvan
Advocate, Vellore
35601 Answers
385 Consultations

5.0 on 5.0

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