My father expired recently has opened a PPF aaount with SBI In 1998?

Question

My father expired recently has opened a PPF account with SBI in 1998, at that time in nomination form he has written clearly
S.D.GUPTA(MY MOTHER) OR P.K.GUPTA(MY ELDER BROTHER) OR D.K.GUPTA(MY SELF)
AND IN FRONT OF OUR NAMES HE HAS WRITTEN IN ORDER OF MERIT.
S.D.GUPTA IS MY MOTHER AND P.K.GUPTA IS MY ELDER BROTHER.IS IT POSSIBLE FOR MY MOTHER TO RECEIVE ALL THE AMOUNT AS PER CLAUSE/CONDITION- "IN ORDER OF MERIT" WRITTEN BY MY FATHER? PLEASE REPLY IMMEDIATELY.

BANK MANAGER IS SAYING MONEY WILL BE DISTRIBUTED BETWEEN ALL THE THREE NOMINEES BECAUSE AS PER THEIR BANK RULE NOMINATION CANNOT BE CONDITIONAL WHICH IS NOT MATCHING WITH THE CONDITION MENTIONED BY MY FATHER IN NOMINATION FORM.
AS PER BANK EITHER WE HAVE TO OPEN BANK ACCOUNT CONSISTING OF ALL THE THREE NAMES AND THEY WILL MAKE SINGLE CHEQUE MENTIONING ALL THE THREE NAMES
OR
WE TWO BROTHER NEED TO DECLARE THAT ALL MONEY CAN BE HANDED OVER TO S.D.GUPTA(MY MOTHER)

AS WE HAVE DISPUTE WITH P.K.GUPTA WE CANNOT GO BY ANY OF THE ABOVE TWO CONDITION GIVEN BY BANK.

MY FATHER HAS CLEARLY WRITTEN THREE NAMES SEPERATED BY " OR " AND BY THE SIDE OF THREE NAMES HE HAS WRITTEN IN ORDER OF MERIT THIS CLEARLY INDICATE THAT MY FATHER INTENTION WHILE FILLING NOMINATION FORM WAS THAT IN CASE MY MOTHER IS ALIVE ALL MONEY SHOULD GO TO HIM ONLY.
IF MY FATHER WAS WRONG WHILE FILLING NOMINATION FORM THEN HOW BANK HAS ACCEPTED THIS FORM ALONG WITH ABOVE CLAUSE/CONDITION.

KINDLY HELP AND SUGGEST WHAT MY MOTHER CAN DO TO GET THIS TOTAL MONEY? CAN MY MOTHER FIGHT AGAINST BANK TO GET HIS RIGHT.

Answer 1

the bank is playing extra-safe in order to absolve itself of all future liabilities in this matter. Probably, your elder brother,P K Gupta has sounded the bank about the rift between himself and you and your mother on one side. If you can't convince your brother thro' the good offices of an intermediary to forgo his part of the share of money than you can write to the bank to give 1/3rd to him and 2/3rd to your mother by forgoing your own share.The other more tedious way would be to get a court order on the basis of the true interpretation of the nomination written by your father. However, if the amount involved is not too much than I would advice you to go by the first method as the court-matter may probably last your poor mother's lifetime or even more.

Answer 2

I will say that this is what the bank does and the best way to deal with this is, in case you do not have any problems among the nominees, better open a joint account and collect the money first. Otherwise, the other 2 nominees can give it in writing to the bank that they do not have any objection in accepting the nomination of the third guy.

This is done as a social norm because most of the times one guy gets everything while other family members are denied their share.

Answer 3

You must understand the difficulty of the bank. They will be able to disburse the available amount in your father's account, in terms of your father's nomination and as per law. There is some confusion created by your late father, by the indicating 'by order of merit'. The bank manager is right in saying that no nomination can be conditional and that condition is also vague. Hence, he says it should be given to all of you at one go. In case you are no agreeable to this arrangement, it is for you file a suit for declaration establishing your individual share and on the basis of a direction from the court, the bank should have no difficulty in disbursing the amount.