- By way of present application, the applicant/respondent No. 2 seeks
direction for taking on record the valuation report of the State Bank of India,
NRI Branch, Mumbai and for issuance of Letter of Administration/Probate
in favour of respondent No. 2. - It is submitted on behalf of the applicant/respondent No. 2 that the
present Testamentary Case was disposed of vide Order dated 06.08.2019.
Thereafter, in terms of Order dated 04.08.2023, the valuation report in
respect of various immovable properties was received on record and the
Letter of Administration/Probate was directed to be issued after completion
of necessary formalities. - The valuation report has been received from the State Bank of India,
NRI Branch, Mumbai. The details of valuation report submitted by the State
Bank of India, NRI Branch, Mumbai, pertaining to the account of Late Shri
Harbans Singh Banga be taken on record. According to the Will dated
21.05.2015 the proceeds in this account devolved in favour of the
applicant/respondent No. 2 and the Letter of Administration in respect of the
same be granted. - Therefore, the prayer is made that the appropriate directions may be
given for taking on record the valuation report and to issue a Letter of
Administration/Probate in favour of the applicant/respondent No. 2. - The present application has been contested on behalf of the
non-applicant/petitioner by way of his detailed Reply by submitting that
the non-applicant/petitioner and respondent No.2 are the sons of Late Shri
Harbans Singh Banga, who died on 18.04.2016 at Dharmsala, Himachal
Pradesh. - The non-applicant/petitioner and the applicant/respondent No. 2 are
the beneficiaries under the last Will and Testament dated 21.05.2015 of Late
Shri Harbans Singh Banga. - The Probate Petition under Section 276 of the Indian Succession Act,
1925 was filed on behalf of the non-applicant/petitioner. The
applicant/respondent No. 2 had accepted the Will dated 21.05.2015 as the
last Testament and requested for grant of Probate jointly to the non-
applicant/petitioner and the applicant/respondent No. 2. - The Probate has been granted in favour of the non-applicant/petitioner
and the applicant/respondent No. 2, subject to payment of proper court fee
vide Order dated 06.08.2019.
TEST.CAS. 36/2017 Page 3 of 6 - It is claimed that the applicant/respondent No. 2 is now clandestinely
seeking to achieve what is beyond the scope of the Will dated 21.05.2015. - It is asserted that as per the Will dated 21.05.2015, the bequest of the
NRE fixed deposits was conditional, subject to deposit being maintained for
a period of ten years and Bank Guarantees to continue for a period of ten
years. - It is submitted that it is within the knowledge of the
applicant/respondent No. 2 but she has suppressed that the Bank Guarantees
maintained against the NRE fixed deposits have been invoked in June, 2016
by CA Indosuez (Switzerland), Singapore Branch (formerly known as Credit
Agricole (Suisse) SA, Singapore Branch). Since, the Bank Guarantee has
been invoked within ten years, the conditions mandatory for the bequest of
the NRE fixed deposits in favour of the applicant/respondent No. 2 have not
been fulfilled. The NRE fixed deposits shall therefore, devolve not as
bequeathed in terms of Will dated 21.05.2015 but as per the law of intestate
succession and both the non-applicant/petitioner and the
applicant/respondent No. 2 are entitled to 50% of the amount now lying in
the account. - Therefore, the prayer is made that the present application may be
dismissed and permission be granted for distribution of assets / proceeds of
the Bank in accordance with the Will dated 21.05.2015 and law of
succession. - Submissions heard.
- It is not in dispute that Late Shri Harbans Singh Banga had executed
his last Will and Testament dated 21.05.2015 in favour of the petitioner and
respondent No. 2.
TEST.CAS. 36/2017 Page 4 of 6 - A no objection to the grant of Probate/Letter of Administration had
been given on behalf of the applicant/respondent No. 2 and accordingly, the
present Testamentary Petition was allowed vide Order dated 06.08.2019. - To now understand the controversy, it would be pertinent to
reproduce the requisite clause of the Will dated 21.05.2015 which reads as
under: –
“As regards the NRE Fixed deposits kept with SBI NRI Branch
Mumbai in the name of Banga Harbans Singh, as mentioned at
serial no. 5 under the heading Moveable Properties in the
Details of properties as mentioned above, these deposits should
be continued to be maintained for a period of not less than ten
(10) years and the Bank Guarantee granted against these
deposits is to continue for a period of not less than ten 10 years,
Provided both Banks continue to Grant and extend the bank
Guarantee facility.
On the basis of above condition being met/adhere to, the said
NRE Fixed deposits and NRE account should be given to Mr.
Banga Vikas (holding passport no. YA4408600) who is resident
of 194, 931/1 charoennakom road, soi 15/ A.Klongthonsai,
Klongsan, Bangkok 10600 Thailand.”
(Emphasis added) - It is not under challenge that some loans had been taken on behalf of
Late Shri Harbans Singh Banga, father of the parties to the present petition
and the Bank Guarantees had been furnished to secure the said loans in the
Will. It was provided that these Bank Guarantees be kept alive for at least
ten years and whatever is left and the above being adhered to, NRE fixed
deposits and NRI account be given to the applicant/respondent No. 2. - There is no challenge that the loans against which the Bank
Guarantees had been furnished got paid in July, 2016 and the Bank
Guarantees were encashed in view of the liabilities of Late Shri Harbans
TEST.CAS. 36/2017 Page 5 of 6
Singh Banga being cleared. - The entire object of keeping the Bank Guarantees alive was purely to
meet any outstanding liabilities. The condition of ten years was imposed in
an anticipation of the liabilities of Late Shri Harbans Singh Banga taking not
less than ten years in getting satisfied. Looking at the intent of the Will, it is
evident that the Bank Guarantees were kept alive only for meeting the
outstanding liabilities of Late Shri Harbans Singh Banga. - Since the liabilities have got satisfied in the year 2016, the Bank
Guarantees had been invoked. When the entire objective and purpose of
keeping them alive had already been satisfied, there was no reason to keep
the bank Account alive thereafter. The period of ten years was not a
condition precedent to devolution of proceeds to respondent no.2 but was
merely to ensure that the children of Late Shri Harbans Singh Banga were
not burdened with the liabilities incurred by him during his lifetime. - The non-applicant/petitioner having derived the benefit under the
Will dated 21.05.2015 to the extent of twelve immoveable properties
bequeathed to him for which the respondent No.2 did not object, he is now
trying to manipulate facts in order to deny the benefits so granted to
applicant/respondent No. 2 under the Will dated 21.05.2015. - The language used in the Will dated 21.05.2015 is that “these
deposits should be continued to be maintained for a period of not less than
ten years Provided both Banks continue to grant and extend the bank
guarantee facility”
. - The period of ten years was subject to both the Banks continuing to
grant and extend the Bank Guarantee facility. Once the loan itself has been
paid and the requirement of keeping the Bank Guarantees has been satisfied
TEST.CAS. 36/2017 Page 6 of 6
within the timeframe of ten years, there is no question of non-satisfaction of
the condition of continuing the bank account for not less than ten years. - The respondent No. 2 is entitled to the bequest as made in his favour
in respect of the State Bank of India, NRI Branch, Mumbai. - In view of the foregoing discussion, the present application is hereby
allowed with direction to the applicant/respondent No. 2 for payment of the
appropriate court fee. - The valuation of the Bank Accounts be done accordingly and the
Letter of Administration/Probate issued vide Order dated 06.08.2019 be
granted.
I.A. 15749/2023 (u/S 151 of CPC, 1908 by petitioner) - List for arguments on 28.03.2024.
(NEENA BANSAL KRISHNA)
JUDGE
FEBRUARY 5, 2024
S.Sharma
