SRO & Lien on bank account- Unpaid Society Dues
3 years ago
Can a commercial bank freeze personal bank account for nonpayment of cooperative society dues? Under what conditions can a bank freeze personal accounts? What are the implications for other properties and/or accounts of this party?
A.Yes, SRO can freeze commercial bank freeze personal bank account for nonpayment of cooperative society dues. Pay the dues & Regularize the account.
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ADV. ANISH PALKAR (High Court)
If you realize my professional skills, the time & efforts put in by me needs to be truly appreciated, and then Please “CLICK MY LIKES/ THUMBS UP/GIFT” button shown below this reply format & also CLICK/ WRITE a “REVIEW” in 5 star as I have answered your query in detail. Do show me the entire set of documents & I shall be able to guide you more into this matter.
Your query is answered in detail. We can help you in getting done the same & Complete Legal Documentation works. Hope this information is useful
ADV. ANISH PALKAR (High Court)
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A.It is very rare unless you have agreed for that. You have share all the relevant loan documents in which such terms and conditions are mentioned. You may approach the Banking Ombudsman and High Court if necessary. Please give me Rank 5 if you feel my answer helped you.
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Ayantika Mondal @ Prime Legal
Responded 3 years ago
A.No, they can not block any account without authority notice or due course of law.
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