A Savings Bank account maintained primarily for the purpose of depositing monthly pension amount could not be attached by a bank just because the account holder had defaulted repayment of a loan availed from the same institution, the Madras High Court Bench here has held.
Justice K. Ravichandra Baabu passed the order while allowing a writ petition filed by A. Muthuiruvakkal of Nagercoil in Kanyakumari district. She had challenged an order passed by a nationalised bank on August 13 preventing her from operating the pension account for recovering the outstanding loan amount.
Article referred: http://www.thehindu.com/news/cities/Madurai/banks-cannot-attach-pension-account-to-recover-loan-dues-hc/article7943078.ece
Justice K. Ravichandra Baabu passed the order while allowing a writ petition filed by A. Muthuiruvakkal of Nagercoil in Kanyakumari district. She had challenged an order passed by a nationalised bank on August 13 preventing her from operating the pension account for recovering the outstanding loan amount.
Article referred: http://www.thehindu.com/news/cities/Madurai/banks-cannot-attach-pension-account-to-recover-loan-dues-hc/article7943078.ece
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