Regarding change of karta
This query is : Resolved
silvi ubal gomes
(Querist)
11 August 2011
Mr A karta of an HUF expired and Mr B his major son intends to be the karta of the HUF. However the bank is not accepting the same and wants to close down the account. Is there any remedy? Kindly provide supporting case laws for the same at the earliest. Bank insist on supporting basis.
CA PARAS BAFNA
(Expert)
11 August 2011
A letter signed by all the major family members showing the intention of all about his succession as a karta will be sufficient for bank.
.
In spite of searching case law it will be better to search either a new bank or the
higher authority than the Branch Manager.
However, on producing the letter above said and the death certi. of karta, bankers normally entertain the request.
.
A new bank may be opted, as the employees may create problems in future banking activities of the HUF.
.
In spite of searching case law it will be better to search either a new bank or the
higher authority than the Branch Manager.
However, on producing the letter above said and the death certi. of karta, bankers normally entertain the request.
.
A new bank may be opted, as the employees may create problems in future banking activities of the HUF.
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