174. Claims of Accounts Standing in the name of persons unheard for more than Seven Years
Such accounts are to be settled as per provisions of Section 107/108 of
the Indian Evidence Act. The nominee / legal heir of a missing
depositors has to raise an express presumption of death of the depositor
under Section 107/108 of the Evidence Act before competent court. If
the court presumes that he/she is dead, then the nominee/legal heir will
be entitled for settlement of outstanding amount of the relevant
account of the missing depositor in his/her favour.
The following documents shall be obtained along with the claim application form.
1. Copy of the FIR
2. Non-traceable report issued by the Police Authorities or Certificate of Legal Death / Presumption of death issued by Court
3. Letter of Indemnity from the Claimant(s)
Source : CBS Manual Rule No 174, Page No 304
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