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Judgment
23 paragraphs · 543 wordsJ.R. Midha, J.—The learned Counsel or respondent No. 3 submits that a sum of Rs. 5,38,801/- has been deposited with UCO Bank in terms of the judgment dated 11th December, 2009.
UCO Bank is directed to release a sum of Rs. 38,801/- to appellant No. 1 by transferring the said amount to her Savings Bank Account.
Remaining amount of Rs. 5,00,000/- be kept in fixed deposits in the following manner:
(i.) Fixed deposit for Rs. 50,000/- in the name of appellant No. 1 for a period of six months.
(ii.) Fixed deposit for Rs. 50,000/- in the name of appellant No. 2 for a period of one year.
(iii.) Fixed deposit for Rs. 50,000/- in the name of appellant No. 1 for a period of one and a half years.
(iv.) Fixed deposit for Rs. 50,000/- in the name of appellant No. 1 for a period of two year.
(v.) Fixed deposit for Rs. 50,000/- in the name of appellant No. 1 for a period of two and a half years.
(vi.) Fixed deposit for Rs. 50,000/- in the name of appellant No. 1 for a period of three years.
(vii.) Fixed deposit for Rs. 50,000/- in the name of appellant No. 3 for a period of three and a half years.
(viii.) Fixed deposit for Rs. 50,000/- in the name of appellant No. 4 for a period of four years.
(ix.) Fixed deposit for Rs. 50,000/- in the name of appellant No. 5 for a period of five years.
(x.) Fixed deposit for Rs. 50,000/- in the name of appellant No. 6 for a period of six years.
The interest on the aforesaid fixed deposits shall be paid monthly by automatic credit of interest in the Savings Account of appellant No. 1.
Withdrawal from the aforesaid account shall be permitted to appellant No. 1 after due verification and the Bank shall issue photo Identity Card to appellant No. 1 to facilitate identity.
No cheque book be issued to appellant No. 1 without the permission of this Court.
The Bank shall issue Fixed Deposit Pass Book instead of the FDRs to the appellants and the maturity amount of the FDRs be automatically credited to the Saving Bank Account of the beneficiary at the end of the FDR.
No loan, advance or withdrawal shall be allowed on the said fixed deposit receipts without the permission of this Court.
Half yearly statement of account be filed by the Bank in this Court.
On the request of appellant No. 1, the Bank shall transfer the Savings Account to any other branch of UCO Bank according to the convenience of appellant No. 1.
The appellant Nos. 1 to 3 shall furnish all the relevant documents for opening of the Saving Bank Account and Fixed Deposit Account to Mr. M.M. Tandon, Member-Retail Team, UCO Bank Zonal, Parliament Street, New Delhi.
Copy of the order be given dasti to Counsel for both the parties under the signatures of the Court Master.
Copy of this order be also sent to Mr. M.M. Tandon, Member-Retail Team, UCO Bank Zonal, Parliament Street, New Delhi (Mobile No. 09310356400) through the UCO Bank, High Court Branch under the signature of Court Master.