Vinayak maintains an account with the bank. A court attachment order for ₹ 10,000 on the account is received. State the action that will be taken in the following situations : (i) Vinayak also maintains a joint account w
CS Professional · Banking - Law and Practice · PYQS · June 2018
Vinayak maintains an account with the bank. A court attachment order for ₹ 10,000 on the account is received. State the action that will be taken in the following situations : (i) Vinayak also maintains a joint account with Geetha (his wife) and the credit Balance in the account is ₹ 1,000.
Answer & Explanation:
As the attachment order is in the sole name of Vinayak, the joint account is not attached.
Topics: Banking Law and Practice
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