[Resolved]  State Bank Of Hyderabad — Non Release of Funds

Address:

Dakshina Kannada, Karnataka

I am a partner of a firm. one of the Partners Expired on 23.12.2004. the State Bank of Hyderabad K.S. Rao Road, Mangalore branch froze the Current account of the Firm on the request of the Heirs of the Partner. however the heirs of the Partner did not lay any claim for the funds and the period of limitation expired on 23.12.2007. thereafter the bank has been dilly dallying about releasing the funds, and wants me to take the heirs of the deceased partner as a Partner in the firm and has set this as a precondition for release of funds. Corporation bank another PSU which had frozen the account, released the account soemtime in 2008, taking a indemnity Bond from us. its end of 2010, and the heirs have not made any claim. however SBH Managers, RM and Even the MD are acting funny and not releasing the funds on some flimsy grounds.