High Court · 2024
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W.P.Nos.20450, 25688, 25734,26721 & 28606 of 2023IN THE HIGH COURT OF JUDICATURE AT MADRASDATED : 12.04.2024CORAMTHE HONOURABLE MR.JUSTICE S.M.SUBRAMANIAMW.P.Nos.20450, 25688, 25734, 26721 & 28606 of 2023W.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 Saini5.Rajan SainiPage 1 of 12 https://www.mhc.tn.gov.in/judis W.P.Nos.20450, 25688, 25734,26721 & 28606 of 20236.Anjula Mishra 7.Divesh Kumar Mishra8.Sanjula Puri9.Vikram Puri... RespondentsPrayer: 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.KrishnaFor R1: No AppearanceFor R2 & R3: Mr.V.ChandrasekaranFor R4 to R9: Mr.R.Bharath KumarW.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.Page 2 of 12 https://www.mhc.tn.gov.in/judis W.P.Nos.20450, 25688, 25734,26721 & 28606 of 20232.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 Saini5.Rajan Saini6.Anjula Mishra 7.Divesh Kumar Mishra8.Sanjula Puri9.Vikram Puri... RespondentsPrayer: 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.KrishnaPage 3 of 12 https://www.mhc.tn.gov.in/judis W.P.Nos.20450, 25688, 25734,26721 & 28606 of 2023For R1 & R2: No AppearanceFor R3: Mr.A.Arun BabuFor R4 to R9: Mr.R.Bharath KumarW.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 Saini5.Rajan Saini6.Anjula Mishra 7.Divesh Kumar MishraPage 4 of 12 https://www.mhc.tn.gov.in/judis W.P.Nos.20450, 25688, 25734,26721 & 28606 of 20238.Sanjula Puri9.Vikram Puri... RespondentsPrayer: 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.KrishnaFor R1 : No AppearanceFor R2 & R3: Mr.T.Shanmugananda Vijaya KumarFor R4 to R9: Mr.R.Bharath KumarW.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,Page 5 of 12 https://www.mhc.tn.gov.in/judis W.P.Nos.20450, 25688, 25734,26721 & 28606 of 2023 Maharastra – 400 013.3.The Branch Manager, HDFC Bank, No.77, Bypass Road, Krishnagiri, Annamalai Nagar, Hosur, Tamil Nadu – 635 109.4.Manjula Saini5.Rajan Saini6.Anjula Mishra 7.Divesh Kumar Mishra8.Sanjula Puri9.Vikram Puri... RespondentsPrayer: 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.KrishnaFor R1 : No AppearanceFor R2 & R3: Mr.C.Mohan and Ms.A.Rexy Josephine Mary For M/s.King and PartridgePage 6 of 12 https://www.mhc.tn.gov.in/judis W.P.Nos.20450, 25688, 25734,26721 & 28606 of 2023For R4 to R9: Mr.R.Bharath KumarW.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 Saini5.Rajan Saini6.Anjula Mishra 7.Divesh Kumar Mishra8.Sanjula Puri9.Vikram Puri... RespondentsPage 7 of 12 https://www.mhc.tn.gov.in/judis W.P.Nos.20450, 25688, 25734,26721 & 28606 of 2023Prayer: 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.KrishnaFor R1 : No AppearanceFor R2 & R3: Mr.T.Hemalatha For R4 to R9: Mr.R.Bharath KumarCOMMON ORDERThe 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 Page 8 of 12 https://www.mhc.tn.gov.in/judis W.P.Nos.20450, 25688, 25734,26721 & 28606 of 2023deposits 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. Page 9 of 12 https://www.mhc.tn.gov.in/judis W.P.Nos.20450, 25688, 25734,26721 & 28606 of 20235. With this liberty, these Writ Petitions stand dismissed. No costs. 12.04.2024JeniIndex : Yes Speaking order Neutral Citation : Yes To1.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.Page 10 of 12 https://www.mhc.tn.gov.in/judis W.P.Nos.20450, 25688, 25734,26721 & 28606 of 20235.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.Page 11 of 12 https://www.mhc.tn.gov.in/judis W.P.Nos.20450, 25688, 25734,26721 & 28606 of 2023S.M.SUBRAMANIAM, J.JeniW.P.Nos.20450, 25688, 25734,26721 & 28606 of 202312.04.2024Page 12 of 12
W.P.Nos.20450, 25688, 25734,26721 & 28606 of 2023IN THE HIGH COURT OF JUDICATURE AT MADRASDATED : 12.04.2024CORAMTHE HONOURABLE MR.JUSTICE S.M.SUBRAMANIAMW.P.Nos.20450, 25688, 25734, 26721 & 28606 of 2023W.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 Saini5.Rajan SainiPage 1 of 12 https://www.mhc.tn.gov.in/judis W.P.Nos.20450, 25688, 25734,26721 & 28606 of 20236.Anjula Mishra 7.Divesh Kumar Mishra8.Sanjula Puri9.Vikram Puri... RespondentsPrayer: 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.KrishnaFor R1: No AppearanceFor R2 & R3: Mr.V.ChandrasekaranFor R4 to R9: Mr.R.Bharath KumarW.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.Page 2 of 12 https://www.mhc.tn.gov.in/judis W.P.Nos.20450, 25688, 25734,26721 & 28606 of 20232.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 Saini5.Rajan Saini6.Anjula Mishra 7.Divesh Kumar Mishra8.Sanjula Puri9.Vikram Puri... RespondentsPrayer: 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.KrishnaPage 3 of 12 https://www.mhc.tn.gov.in/judis W.P.Nos.20450, 25688, 25734,26721 & 28606 of 2023For R1 & R2: No AppearanceFor R3: Mr.A.Arun BabuFor R4 to R9: Mr.R.Bharath KumarW.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 Saini5.Rajan Saini6.Anjula Mishra 7.Divesh Kumar MishraPage 4 of 12 https://www.mhc.tn.gov.in/judis W.P.Nos.20450, 25688, 25734,26721 & 28606 of 20238.Sanjula Puri9.Vikram Puri... RespondentsPrayer: 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.KrishnaFor R1 : No AppearanceFor R2 & R3: Mr.T.Shanmugananda Vijaya KumarFor R4 to R9: Mr.R.Bharath KumarW.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,Page 5 of 12 https://www.mhc.tn.gov.in/judis W.P.Nos.20450, 25688, 25734,26721 & 28606 of 2023 Maharastra – 400 013.3.The Branch Manager, HDFC Bank, No.77, Bypass Road, Krishnagiri, Annamalai Nagar, Hosur, Tamil Nadu – 635 109.4.Manjula Saini5.Rajan Saini6.Anjula Mishra 7.Divesh Kumar Mishra8.Sanjula Puri9.Vikram Puri... RespondentsPrayer: 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.KrishnaFor R1 : No AppearanceFor R2 & R3: Mr.C.Mohan and Ms.A.Rexy Josephine Mary For M/s.King and PartridgePage 6 of 12 https://www.mhc.tn.gov.in/judis W.P.Nos.20450, 25688, 25734,26721 & 28606 of 2023For R4 to R9: Mr.R.Bharath KumarW.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 Saini5.Rajan Saini6.Anjula Mishra 7.Divesh Kumar Mishra8.Sanjula Puri9.Vikram Puri... RespondentsPage 7 of 12 https://www.mhc.tn.gov.in/judis W.P.Nos.20450, 25688, 25734,26721 & 28606 of 2023Prayer: 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.KrishnaFor R1 : No AppearanceFor R2 & R3: Mr.T.Hemalatha For R4 to R9: Mr.R.Bharath KumarCOMMON ORDERThe 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 Page 8 of 12 https://www.mhc.tn.gov.in/judis W.P.Nos.20450, 25688, 25734,26721 & 28606 of 2023deposits 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. Page 9 of 12 https://www.mhc.tn.gov.in/judis W.P.Nos.20450, 25688, 25734,26721 & 28606 of 20235. With this liberty, these Writ Petitions stand dismissed. No costs. 12.04.2024JeniIndex : Yes Speaking order Neutral Citation : Yes To1.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.Page 10 of 12 https://www.mhc.tn.gov.in/judis W.P.Nos.20450, 25688, 25734,26721 & 28606 of 20235.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.Page 11 of 12 https://www.mhc.tn.gov.in/judis W.P.Nos.20450, 25688, 25734,26721 & 28606 of 2023S.M.SUBRAMANIAM, J.JeniW.P.Nos.20450, 25688, 25734,26721 & 28606 of 202312.04.2024Page 12 of 12