BANK OF UPPER INDIA LTD Vs. ARIF HUSAIN

JUDGEMENT

(1.) Syed Zafar Husain made a fixed deposit of Rs. 800 in the Bank of Upper India Limited at Meerut on 1 March 1910. The deposit was for a period of three months only and the stipulated rate of interest was 3 per cent per annum.

(2.) The fixed deposit receipt which has been exhibited in this case as No. 4 is worded as follows: Received from Syed Zaffar Hussain village Dholri, District Meerut, the sum of Rs. 800 only as a deposit subject to three months notice of withdrawal bearing interest at 3 per cent per annum from 24 February 1910 payable on 1 January and 1 July of each year.

(3.) Syed Zaffar Hussain died on 10 June 1910. He left a widow Mt. Husain Bandi, a daughter Amtul Zainub, aged about 4 years and a son Arif Husain aged about 2 years. These were his heirs under the Mahomedan law and were entitled to the amount of the deposit together with interest.