 to allow depositors to withdraw up to Rs 5 lakh for medical emergencies.){kind=link}
Bejon Kumar Mishra, a petitioner, has asked the Delhi High Court to direct the Punjab & Maharashtra Cooperative Bank to allow depositors to withdraw up to Rs 5 lakh for medical emergencies. Today (July 21) the bench of Chief Justice D.N. Patel and Justice Prateek Jalan issued a notice.
The petition said: “The situation has come to such a pass that the depositors are completely helpless in carrying out their day to day financial activities and becoming victims of avoidable debt and mortgage.”
Advocate Shashank Deo Sudhi, appearing for the petitioner submitted: “We have already made several representations as suggested by the Hon’ble Court but there is no reply. The respondents have indiscriminately used section 35A of the Banking Regulation Act by non-adherence to the intendment of the legislation but to unleash the financial hardship to the depositor of the PMC Bank without any justified ground.”
Shashank also submitted that the application has not been resolved and the money that is pending is not yet released.
-India Legal Bureau