9911796707
TMI Blog2023 (4) TMI 1037X X X X Extracts X X X X X X X X Extracts X X X X ..... 8377;10,73,343.51 were deposited in the said bank account, this Court considers it apposite to direct the respondent to unblock the account to the said extent - The UCO Bank shall, on the strength of the present order, make a payment of the said amount of ₹10,73,343.51 to the petitioner. Insofar as the petitioner s prayer for unblocking the said bank account is concerned, this Court considers it apposite to permit the petitioner to make a representation enclosing therewith evidence to the effect that although the petitioner s wife was included as a joint holder; the funds in the said bank account belong to the petitioner and the transactions in the said account are reflected in his income tax returns and not that of his wife. Pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ould be available for appropriation against dues payable by the other joint bank account holders. 5. The said contention is unmerited. Although there may be a presumption that the credit balance in the joint bank account is an asset held jointly by the joint bank account holders, the same is a rebuttable presumption. 6. In the present case, the petitioner is the first holder of the bank account and his wife has been added as a joint holder. Although, the petitioner s wife may be able to operate the bank account, there is no material to substantiate that the funds in the said bank account belong to her. 7. The petitioner has placed on record material to show that sums of ₹9,73,343.51 and ₹1,00,000.00 (aggregate amount of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... icy amounting to ₹10,73,343.51 were deposited in the said bank account, this Court considers it apposite to direct the respondent to unblock the account to the said extent. 12. The UCO Bank shall, on the strength of the present order, make a payment of the said amount of ₹10,73,343.51 to the petitioner. 13. Insofar as the petitioner s prayer for unblocking the said bank account is concerned, this Court considers it apposite to permit the petitioner to make a representation enclosing therewith evidence to the effect that although the petitioner s wife was included as a joint holder; the funds in the said bank account belong to the petitioner and the transactions in the said account are reflected in his income tax returns an ..... X X X X Extracts X X X X X X X X Extracts X X X X
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