Legal Advice

Closing fixed deposit when father is not traceable

Question: Based on negotiation prior to the divorcee decree, an account of Rs.2.5 lakhs was deposited in FD in the name of my minor daughter by her father (my ex husband) in Syndicate Bank. Now this bank is merged with Canara Bank. The interest of the deposit amount was credited to my account quarterly for her maintenance. Now she is completed 18 years. For her studies we want to close the FD and use the amount. The Canara bank says that her father has to attend for closing the FD. The divorcee was 13 years back and we do not know the whereabouts of her father. Kindly advise what we can do to get the amount. Thanks

Advise

In this situation, you should initiate a civil suit in the court where the divorce was decreed. The fixed deposit was established under the court’s direction and with its approval. Consequently, the court possesses the authority to instruct the bank to liquidate the fixed deposit and release the funds to the intended recipient, the girl for whom the fixed deposit was created.

Shivendra Pratap Singh

Advocate

High Court Lucknow