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Injunction or Writ petition to freeze Dad's bank account for sometime


13-Jun-2023 (In Banking / Finance Law)
Hi, We are looking to get some advise and quote for the work to freeze bank account of my father from the court (ideally High court as normal courts are not working) on the basis of below 2 reasons - Dad taken gold of my mother, sister and wife's without our consent - Dad has bipolar mental health condition (doctor issued a certificate). With coronavirus, my sister wedding scheduled this month is postponed. We are currently away from my father hometown Kavali, Nellore district. We have given all documents and evidences to the bank manager and they have temporarily frozen the account. He suggested that they need something from the court to freeze account until our sister wedding where we all come to the town. Can it be: - a writ petition - an injunction order or - a civil case (could be withdrawn when things get back to normal) Whichever is possible and cheaper price. I hope you can understand our concerns and risk of financial losses with our sister's wedding ahead.
Answers (1)

Answer #1
505 votes
Hi,
Your Father taken a gold loan. Its loan against your gold. Bank didn't ask your father about his health conditions because its loan against gold. How much amount he has taken from bank ( Rs/gram) and time period.
1.There is an option to repay the loan amount
withdraw your gold.
2. There are private gold loan companies take over the loan.
3. Today 10 grams gold is around Rs 50000.
In case glod price fallen drastically, banks can't wait for your permission or court orders.
banks auction your gold immediately for recovery from loss.
4. Banks have the right to sell your gold anytime depends on market conditions.
5.In case you approach the court, it's time taking.
6.Please go to the bank , ask the manager about gold loan application. Then read all the terms and conditions of the bank or company on back side of the application.
7.Once you understand the rules and regulations of the bank, then decide what to do.
have a nice day. good luck.

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