Huf bank operation on the demise of karta
Ravi (Self Employed) (70 Points)
04 March 2017Ravi (Self Employed) (70 Points)
04 March 2017
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(176622 Points)
Replied 04 March 2017
Actual process is to assign Karta (New) to the HUF by family mutual consent & such declaration is prepared, where all the coparceners and even members signature is recorded.
A copy of the letter is submitted to bank branch (along with prescribed form, if they required); to update their records to authorize new Karta of HUF, (on demise of earlier one). along with new list of members of HUF.
Ravi
(Self Employed)
(70 Points)
Replied 04 March 2017
Dear DhirajlalG
Will I become the karta now?
How should I make the branch manager understand this. He does not agree to this then which competent authority can I approach who can authorise him to do the necessary changes.
Thank you
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(176622 Points)
Replied 04 March 2017
You are required to submit proper documents to Bank. Its usual proceedure, but sometimes because of some technical reasons some banks find it easier to close old account and re-open new account of same HUF with different Karta. So, check that procedure if that suits you, or forward a copy of all your documents to regional office and further to bank's ombudsman.
If you are presently eldest member of the HUF, you can become Karta.
Ravi
(Self Employed)
(70 Points)
Replied 04 March 2017
Dear DhirajlalG
Many thanks once again.
Your co operation indeed is of great help.
God bless you.
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India