This order allows the petitioner to convert the minor's recurring deposit into a fixed deposit and receive accrued interest quarterly until majority, following a prior sale of property for the minor's benefit.
Petitioner permitted to convert recurring deposit to fixed deposit and receive interest quarterly till majority.
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A.No.3173 of 2020 in O.P.No.750 of 2019
A.No.3173 of 2020 in O.P.No.750 of 2019
R.PONGIAPPAN,J.
The applicant herein is the petitioner in O.P.No.750 of 2019. The
original petition has been filed seeking to grant of leave to the petitioner to sell the property mentioned in the schedule including minor's 1/2 share for her benefits and well being to any other person or persons at a price not less than Rs.25,00,000/- (Rupees Twenty Five Lakhs Only) and to execute and
register the necessary conveyance.
2.At the end of the said proceedings, the same was ordered and the petitioner was permitted to sell 1/2 share of the minor daughter of the suit property. Further, the petitioner is directed to deposit a sum of Rs.12,50,000/- (Rupees Twelve Lakhs Fifty Thousand Only) from the sale
proceeds of the minor's share in Indian Bank, Madras High Court Branch, Chennai in the name of the minor L.Disilviya in Recurring Deposit till she attained majority. By obeying the order dated 21.10.2019 passed by this Court, the petitioner sold the schedule mentioned property and deposited a sum of Rs.12,50,000/- in the name of the minor child in a Recurring
Deposit. In the said circumstances, now the petitioner approach this Court https://www.mhc.tn.gov.in/judis/
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A.No.3173 of 2020 in O.P.No.750 of 2019
by way of filing this application for the short relief to convert the Recurring Deposit into a Fixed Deposit, and such conversion would not in any way cause prejudice to the right or welfare of the minor child. Therefore, being satisfied with the reasons stated in the application, this application is
ordered as prayed for.
3.Accordingly, the petitioner is permitted to convert the Recurring
Deposit as a Fixed Deposit. Further, the petitioner is permitted to receive
the accrued interest once in three months till the minor child attains
majority.
19.01.2021
Index : Yes / No
Internet : Yes/ No
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A.No.3173 of 2020 in O.P.No.750 of 2019
R.PONGIAPPAN,J.
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A.No.3173 of 2020
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O.P.No.750 of 2019
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The Applicant (Petitioner in O.P.No.750 of 2019)
The Court
R.PONGIAPPAN
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
