Retrievel of gold from loan

5 years ago

Account holder unfortunately dead....that person account ( name ) some jewel loan taken by him..
Now how to retrieve the gold form loan by his wife and children....

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Ashish K Dongre

Responded 5 years ago

A.Issue a legal notice

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Nirmal Chopra

Responded 5 years ago

A.Several them a legal notice and file a case thereafter as liability can be fastened on them.

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Ambrose Leo

Responded 5 years ago

A.You have submit death certificate & request for clearing the loan as per the terms of the banker & issue of pledged gold quickly.If need you can obtain guidance & help from a Lawyer from panel of Vidhikarya.

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Kishan Dutt Kalaskar

Responded 5 years ago

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A.Get Heir Certificate and get it in the capacity of legal representatives

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Anbu Durairaj

Replied 5 years ago

Already got a heir certificate, but they (bank person) telling lot of procedures..

They telling first you pay the loan amount and give a request form.... We will send those things to head office and they will take final decision...
They telling it will take minimum 6 months.
See sir I am not a high class person . I am already struggling financially ...
So how I will pay amount and how I will wait for 6month....

Really I am the son for him and my mom's ( his wife ) is there ... For that required certificate and details is there....
Then what procedures i want to follow..
Really physically and mentally disappointed with this bank procedures and our country...

UKS

Responded 5 years ago

A.Dear Anbu,
If loan has been given on proper execution of agreement with surety bond. Loan can be recovered from surety and also from heirs of loanee, if mortgage deed was also executed.
However, give comlplete details of case.

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Jessy Payne

Responded 5 years ago

A.You need to check if account holder has mentioned the name of the nominee for the account. Or else the wife will have to produce WILL or succession certificate to show that the wife is the legal heir. Wife can also produce indemnity cum affidavit if there is no WILL and if there is no dispute with regard to legal heirs.

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