VIDYAA HARI IYER Vs. SUNDARAM FINANCE LIMITED

JUDGEMENT

(1.) This application has been filed by the applicant to direct the first respondent to disburse to the credit of the applicant herein the monies lying in FDR No.D629907 (L936473) together with interest at 18% p.a. from the date of maturity, within a time frame as fixed by this Court.

(2.) The contention of the applicant is that after the death of her husband, the first respondent failed to release the deposit made by her husband on the ground that the second respondent was the nominee. The applicant has filed an Original Petition in O.P.No.953 of 2018 for issuance of Succession Certificate. The Court by an Order dated 26.12.2019 issued the Succession Certificate. Despite the certificate produced, the first respondent did not release the amount. It is further alleged by the applicant in the application that her husband had made various fixed deposits. After the death of her husband, she was driven out of her matrimonial home. Her in-laws and other nephews and nieces tried to usurp the entire amount. Hence, this application has been filed to seeking direction to release the deposit amount held by her husband.

(3.) It is the contention of the first respondent that the second respondent is the nominee, has objected for release of the amount. They have filed an interpleader suit before the City Civil Court for decision.