pradeep k sood (partner) 07 February 2019
One of my client a private limited company has four directors: two individuals A and B and their spouses. The company is availing CC limit from bank. The bank is operated on either or survivor basis. Now there is some dispute. A has taken full control of the bank account. B wants to intimate bank about the dispute and request the bank not to allow any operation in the account. Now my query is whether the intimation by B on company letter head shall be enough for the bank to freeze the account. Is there any case law available on the subject.