C.B.Rakesh Bandari v. The Regional Director
2024:MHC:1932
IN THE HIGH COURT OF JUDICATURE AT MADRAS
DATED : 12.04.2024
CORAM
THE HONOURABLE MR.JUSTICE S.M.SUBRAMANIAM W.P.Nos.20450, 25688, 25734, 26721 & 28606 of 2023 W.P.No.20450 of 2023:
C.B.Rakesh Bandari ... Petitioner Vs.
1.The Regional Director, Reserve Bank of India, Fort Glacis, 16, Rajaji Road, Fort St. George, Chennai - 600 001.
2.The Managing Director, Tamil Nadu Mercantile Bank, 57, V.E.Road, Thoothukudi - 628 002.
3.The Branch Manager, Tamil Nadu Merchantile Bank, Chappadi Branch, 133/1B National Highways, Bengaluru - Chennai Highways, Chappadi Village, Tamil Nadu 635 117.
4.Manjula Saini 5.Rajan Saini
6.Anjula Mishra 7.Divesh Kumar Mishra 8.Sanjula Puri 9.Vikram Puri ... Respondents Prayer: Writ Petition filed under Article 226 of the Constitution of India for issuance of a Writ of Mandamus, directing the respondents 1 to 3 to consider the petitioner's representation dated 04.03.2023 for recalling the Term Deposits as per the Master Circular of Reserve Bank of India Clause No.20.1.1 (c).
For Petitioner : Mr.K.Krishna For R1 : No Appearance For R2 & R3 : Mr.V.Chandrasekaran For R4 to R9 : Mr.R.Bharath Kumar W.P.No.25688 of 2023:
C.B.Rakesh Bandari ... Petitioner Vs.
1.The Regional Director, Reserve Bank of India, Fort Glacis, 16, Rajaji Road, Fort St. George, Chennai - 600 001.
2.The Managing Director, Karur Vysya Bank, Registered and Central Office, No.20, Erode Road, Vadivel Nagar, L.N.S., Karur - 639 002.
3.The Branch Manager, Karur Vysya Bank, 100/161 (60 Feet Road Junction), P.N. Road, Tirupur, Tirupur - 641 602.
4.Manjula Saini 5.Rajan Saini 6.Anjula Mishra 7.Divesh Kumar Mishra 8.Sanjula Puri 9.Vikram Puri ... Respondents Prayer: Writ Petition filed under Article 226 of the Constitution of India for issuance of a Writ of Mandamus, directing the respondents 1 to 3 to consider the petitioner's representation dated 04.03.2023 for recalling the Term Deposits as per the Master Circular of Reserve Bank of India Clause No.20.1.1 (c).
For Petitioner : Mr.K.Krishna
For R1 & R2 : No Appearance For R3 : Mr.A.Arun Babu For R4 to R9 : Mr.R.Bharath Kumar W.P.No.25734 of 2023:
C.B.Rakesh Bandari ... Petitioner Vs.
1.The Regional Director, Reserve Bank of India, Fort Glacis, 16, Rajaji Road, Fort St. George, Chennai - 600 001.
2.The Managing Director, IndusInd Bank, Thimmaya Road (Cantonment), Pune - 411 001.
Maharastra.
3.The Branch Manager, IndusInd Bank, Door No.208/650, 1-10 KRBS Tower, P.N.Road Opp to Mettupalayam Bus Stop, Tiruppur - 641 602.
4.Manjula Saini 5.Rajan Saini 6.Anjula Mishra 7.Divesh Kumar Mishra
8.Sanjula Puri 9.Vikram Puri ... Respondents Prayer: Writ Petition filed under Article 226 of the Constitution of India for issuance of a Writ of Mandamus, directing the respondents 1 to 3 to consider the petitioner's representation dated 04.03.2023 for recalling the Term Deposits as per the Master Circular of Reserve Bank of India Clause No.20.1.1 (c).
For Petitioner : Mr.K.Krishna For R1 : No Appearance For R2 & R3 : Mr.T.Shanmugananda Vijaya Kumar For R4 to R9 : Mr.R.Bharath Kumar W.P.No.26721 of 2023:
C.B.Rakesh Bandari ... Petitioner Vs.
1.The Regional Director, Reserve Bank of India, Fort Glacis, 16, Rajaji Road, Fort St. George, Chennai - 600 001.
2.The Managing Director, HDFC Bank House Senapati Bapat Marg, Lower Parel W Mumbai,
Maharastra - 400 013.
3.The Branch Manager, HDFC Bank, No.77, Bypass Road, Krishnagiri, Annamalai Nagar, Hosur, Tamil Nadu - 635 109.
4.Manjula Saini 5.Rajan Saini 6.Anjula Mishra 7.Divesh Kumar Mishra 8.Sanjula Puri 9.Vikram Puri ... Respondents Prayer: Writ Petition filed under Article 226 of the Constitution of India for issuance of a Writ of Mandamus, directing the respondents 1 to 3 to consider the petitioner's representation dated 04.03.2023 for recalling the Term Deposits as per the Master Circular of Reserve Bank of India Clause No.20.1.1 (c).
For Petitioner : Mr.K.Krishna For R1 : No Appearance For R2 & R3 : Mr.C.Mohan and Ms.A.Rexy Josephine Mary For M/s.King and Partridge
For R4 to R9 : Mr.R.Bharath Kumar W.P.No.28606 of 2023:
C.B.Rakesh Bandari ... Petitioner Vs.
1.The Regional Director, Reserve Bank of India, Fort Glacis, 16, Rajaji Road, Fort St. George, Chennai - 600 001.
2.The Managing Director, Syndicate Bank-Canara Bank, 112, JC Road, Bengaluru - 560 002.
3.The Branch Manager, Syndicate Bank - Canara Bank, No.72, JG Nagar 2nd Street, 60 feet Road, Tiruppur.
4.Manjula Saini 5.Rajan Saini 6.Anjula Mishra 7.Divesh Kumar Mishra 8.Sanjula Puri 9.Vikram Puri ... Respondents
Prayer: Writ Petition filed under Article 226 of the Constitution of India for issuance of a Writ of Mandamus, directing the respondents 1 to 3 to consider the petitioner's representation dated 04.03.2023 for recalling the Term Deposits as per the Master Circular of Reserve Bank of India Clause No.20.1.1 (c).
For Petitioner : Mr.K.Krishna For R1 : No Appearance For R2 & R3 : Mr.T.Hemalatha For R4 to R9 : Mr.R.Bharath Kumar COMMON ORDER The fact remains that the petitioner is the son of the deceased Chathurbhuj Bhandari. Admittedly, the contesting private respondents 4, 6 and 8 are the sisters and their husbands of the writ petitioner.
2. It is not in dispute between the parties that the deceased Chathurbhuj Bhandari made term deposits in Banks. He had nominated the respondents 4 to 9 in respect of the term deposits. After the demise of the Chathurbhuj Bhandari, the respective Banks honoured the nomination and settled the term
deposits along with the interest in favour of the nominees as per the regulations.
3. The learned counsel for the petitioner would mainly contend that the nomination ought not to have been acted upon, since the petitioner is the business partner along with his Late Father and more so, he had not intended to nominate the respondents 4 to 9 in respect of term deposits.
4. This Court is of the considered opinion that as far as the Bank Term Deposits are concerned nominee is entitled to receive the deposited amount along with the interest accrued after the demise of the depositor. This being the condition applicable to the term deposits,now the petitioner cannot claim any right over the term deposits. Admittedly, the respondents 4 to 9 are the nominee. Thus, the Bank has not violated the banking regulations. If at all the disputes exist between the parties, they are at liberty to resolve the case in the manner known to law.
5. With this liberty, these Writ Petitions stand dismissed. No costs. 12.04.2024 Jeni Index : Yes Speaking order To 1.The Regional Director, Reserve Bank of India, Fort Glacis, 16, Rajaji Road, Fort St. George, Chennai - 600 001.
2.The Managing Director, Tamil Nadu Mercantile Bank, 57, V.E.Road, Thoothukudi - 628 002.
3.The Branch Manager, Tamil Nadu Merchantile Bank, Chappadi Branch, 133/1B National Highways, Bengaluru - Chennai Highways, Chappadi Village, Tamil Nadu 635 117.
4.The Managing Director, Karur Vysya Bank, Registered and Central Office, No.20, Erode Road, Vadivel Nagar, L.N.S., Karur - 639 002.
5.The Branch Manager, Karur Vysya Bank, 100/161 (60 Feet Road Junction), P.N. Road, Tirupur, Tirupur - 641 602.
6.The Managing Director, IndusInd Bank, Thimmaya Road (Cantonment), Pune - 411 001.
Maharastra.
7.The Branch Manager, IndusInd Bank, Door No.208/650, 1-10 KRBS Tower, P.N.Road Opp to Mettupalayam Bus Stop, Tiruppur - 641 602.
8.The Managing Director, HDFC Bank House Senapati Bapat Marg, Lower Parel W Mumbai, Maharastra - 400 013.
9.The Branch Manager, HDFC Bank, No.77, Bypass Road, Krishnagiri, Annamalai Nagar, Hosur, Tamil Nadu - 635 109.
10.The Managing Director, Syndicate Bank-Canara Bank, 112, JC Road, Bengaluru - 560 002.
11.The Branch Manager, Syndicate Bank - Canara Bank, No.72, JG Nagar 2nd Street, 60 feet Road, Tiruppur.
S.M.SUBRAMANIAM, J.
Jeni 12.04.2024