Honouring Of FD | Vkeel - Free Legal Advice

Krithika

Bangalore

My father had deposited some money in a company called Bilcare Pune a few years back. The FD had matured and has been extended many times. Now, my dad is undergoing medical treatment and I needed the money. When asked for money, I got a response, "Kindly note that at present BILCARE has decided to repay 20% of the deposit amount and 80% to be renewed for 24 months, hence the renewal application forms will be sent to you. You have to sign the same and return back the application forms along with the original FD Receipt, PAN card copy, and bank A/c cheque leaf of the first deposit holder." Is there any way of getting our money from them. Pls advice.

Expert's Answers(4)

Kishan Retired Judge ( Advocate)
Bengaluru, Karnataka

184 Client Ratings

Dear Sir You can get issue legal notice after getting 20% amount Please give me RANK FIVE (5) If my answer satisfies you

September 8, 2020
Advocate J L Naagar
Jalandhar, Punjab

169 Client Ratings

Is there any such agreement that your Father had entered into? Otherwise no financial Institution can compel to Follow such illogical terms.. Please give me Rank Five and follow me after reviewing my resume and book a consultation for further discussion and explanation if required.

September 7, 2020
Advocate Suneel Moudgil
Panipat, Haryana

40 Client Ratings

1. no financial institution can deny you to give your money back, 2. you can serve him a legal notice through a lawyer to cancel the FD and remit the amount, 3. if payment is not made despite service of the legal notice, you can file a consumer complaint as per the provision of latest amendments, 4. the consumer case can be filed from your place, 5. you can also claim an appropriate compensation for causing mental agony & unfair trade practice 6. you can contact me for a detailed discussion

September 7, 2020
Advocate Abhimanyu Gurawalia
Patli Hajipur, Haryana

60 Client Ratings

yes file a case before Permanent lok Adalat as your FD is already mature they can not force for further renewal

September 7, 2020