Bikash Kumar Naik v. the New India Assurance Co. Ltd., Khurda
Case brief
What is this about?
The High Court allowed a writ petition seeking premature withdrawal of a fixed deposit amount. The court directed the respondent bank to release the funds subject to the filing of a fresh application by the petitioner within four weeks, accompanied by an original quotation. The authorisation is conditioned upon the petitioner subsequently producing proof of auto purchase within one month.
What did the court decide?
Prayer for premature withdrawal of Rs. 1,50,000 fixed deposit allowed subject to petitioner filing fresh application with original quotation within four weeks and producing proof of auto purchase with