Section 26 of The Banking Regulation Act, 1949:
Return of unclaimed deposits.
Return of unclaimed deposits. – Every banking company shall, within thirty days after the close of each calendar year, submit a return in the prescribed form and manner to the Reserve Bank as at the end of such calendar year of all accounts [in India] which have not been operated upon for ten years [* * *]:
Provided that in the case of money deposited for a fixed period the said term of ten years shall be reckoned from the date of the expiry of such fixed period:
[Provided further that every regional rural bank shall also furnish a copy of the said return to the National Bank.]
Advocate Anoop Verma has been advising individuals, corporates, businesses on a variety of legal issues since his call to the Punjab & Haryana Bar Council.
After gaining years of experience working for law firms, Advocate Anoop Verma opened his own Law firm “Verma Law Associates” where he is able to provide quality legal services at reasonable rates.
During his career, he has been involved in some of the most complicated and high profile cases, and participated in several ground-breaking litigation cases. Having been trained and mentored by some of best lawyers, he brings a unique perspective and varied experience to his practice.
We at Verma Law Associates handles all the cases pertaining to:
- Criminal Law
- Banking Law/DRT (Debt Recovery Tribunal)
- Civil Law
- Family Disputes
- Consumer Laws
- Service Law/Service Matters
- Company Law/NCLT (National Company Law Tribunal)
- Motor Accident Claims
- Property Law
Have a Question? Schedule a Consultation.
We offer initial consultations over the telephone and in person at no cost.
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Punjab & Haryana High Court Chandigarh, DRT Chandigarh