[Resolved]  Fixed Deposit — Irregularities /manipulations in FDs , maintained in Axis Bank Ltd.- Baguiati Branch

Address:

South 24 Parganas, West Bengal

This is to bring to your kind notice that my wife , Smt. Jayeeta Basu has had been maintaining a privilege account ( account no. [protected] ) in Baguihati Branch of AXIS BANK Ltd. A minority account ( a/c no [protected]) in name of my son , Master Saraswat Basu was opened in the same bank, taking the privilege facility of my wife?s account.

My wife had deposited an amount of Rupees Two Lacs in the Baguihati Branch of Axis Bank Limited , in two separate FDs , the details of which are mentioned below :

Sl No. Account No. Amount
( INR ) Interest rate ( % PA) Start Date Maturity Date Maturity Amount
1 [protected] 1,00,000/- 8.[protected]-2010 1,08,828 /-
2 [protected] 1,00,000/- 8.[protected]-2010 1,08,828 /-

At the time of making the FDs , it was advised by my wife to transfer the maturity amount to account no. [protected] , on the date ( i.e.[protected] of maturity.

On 17th April-2010, during the transaction with my son?s account , my wife observed that the maturity amount was not transferred to the above mentioned account no. [protected] . On raising query, it was told by one lady bank employee of the said branch that both the FDs have been renewed at the rate ( lower than the previous rate)which is the prevalent rate ( about 6 % )of AXIS BANK LTd. for the said period of one year. It was also noticed that, despite submitting Form 15 G ( submitted thrice ---on[protected] , April-2009 and on[protected] , TDS has been deducted in the month of December-2009 , which is two months before maturity date . When the lady was asked that why no TDS certificate and receipts of auto-renewal have not been despatched, my wife was told that the said documents will not be sent. However, on producing the previous receipts, mentioned in the above table, the maturity amount will be refunded.

Under the above circumstances, the following clarifications are sought :

1. How TDS can be deducted ,before the maturity date ?
2. How TDS, has been deducted , despite submitting 15G ?
3. Why TDS certificate has been refused by the Bank ?
4. Why, despite standing instruction, the maturity amount was not transferred to the beneficiary ( herein referred the account no. [protected] of Master Saraswat Basu) ?
5. Why, Bank has refused to send the receipts of auto renewal of the said amount ?
6. Why no counterfoil was given at the time of submission of 15G in the month of April-2009 ? Why my wife was contacted by one of the Bank Employee to submit 15G in the month of February-2010 ?