(1.) The petitioner requires funds, urgently, to pay the initial costs for a dwelling unit as a member of a group housing society. And, although the petitioner has been saving for the past twenty two years, he has been denied access to his savings. This has led the petitioner to file the present petition. The petitioner impugns an order dated 15.10.2014 passed by Under Secretary, Ministry of Finance, rejecting his request to close his Public Provident Fund Account no.10819241976 maintained with State Bank of India (hereafter the 'PPF A/c').
(2.) The controversy to be adressed is whether the petitioner is entitled to close his PPF A/c, which has been maintained by him for the past twenty two years.
(3.) The Public Provident Fund Act, 1968 (hereafter the 'PPF Act' ) was enacted for institution of a provident fund for the general public.