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Bank's reluctance in releasing my gold


24-Sep-2023 (In Banking / Finance Law)
I am a software engineer and I live in USA. My father is an Account holder of AndhraBank, Kapra-sainikpuri branch. My father took gold loan using mine and my wife’s jewelry after my wedding in 2017 through his account and I was the nominee. Unfortunately my father passed away on 11th April 2018 due to cardiac arrest. I paid the bank complete gold loan amount when it was due after my father’s demise and when I wanted to relieve all my gold, bank is not releasing my gold on some pretext. They now say that they didn’t register nominee name on paper for the gold loan that my father took on my behalf when he was alive. It is the bank’s failure that they did not register nominee name on paper for gold loan and apparently I am the nominee for my father’s SB account. I explained the facts and circumstances to the branch manager and assured them that I will take full responsibility and give complete security for the gold after it is released to me. I am not able to get my own gold from the bank
Answers (2)

Answer #1
959 votes
hello,if you are only living legal heir to your father, you have to apply for a legal heir certificate/ succession certificate through the court. After getting the legal heir certificate, you can submit the same to the bank and ask the bank to release the movable property that your father has left.
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Answer #2
861 votes
very strange case. you need to consult higher officers or ombudsman of bank. if that fails then file petition in civil court to get back your gold. first bank loan receipt, your payment details, you as a legal heir representative, any will by your father etc. legally only your father. in his absence getting your name in that loan is the question by bank. if this case in Hyderabad then give me messages
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