Banks to decide on Rs 11 crore fixed deposits
B Sivakumar| TNN | Updated: Dec 5, 2017, 06:56 IST
CHENNAI: Late chief minister J Jayalalithaa has left behind several assets in the form of immovable as well as movable assets. While the immovable assets may remain idle for years to come, movable assets like fixed deposits will lie untouched for about a decade till they are claimed either by the nominee or by those whose names are mentioned in her will, if any.
Jayalalithaa, as per her affidavit filed for the 2016 assembly election, has Rs 10.63 crore in fixed deposits in 11 bank branches in Chennai, Secunderabad and Elada-Kodanad. There are no details of whether she has nominated anyone. But bank sources told TOI that the deposits would remain for a decade before a decision was taken by higher officials. Of the total unclaimed cash lying in fixed deposits, Rs 2.47 crore was frozen in the wealth case.
As per bank rules, a fixed deposit can remain inoperable for 10 years. "Interest will accrue for the deposit and if there is a nominee for the deposit we will get a death certificate and release it. But if there is no nominee, then we have a separate procedure of seeking the death certificate and legal heir certificate and other documents. But with regard to the former chief minister, we have not received any demand so far," a senior bank official told TOI.
The banks have not received any will of the former chief minister and have no indication of who could be her legal heir. Nine fixed deposit accounts in PSU banks in Chennai and Secunderabad have been frozen. There are six fixed deposit accounts which have Rs 1 crore or above and the principal amount in two accounts is Rs 99.99 lakh each.
The former chief minister had also invested as partners in several companies including Shri Jaya Publications, Sasi Enterprises, Kodanad Estate, Royal Valley Floritech Exports and Green T Estate. Jayalalithaa invested Rs 27.44 crore in all these companies. In Jaya Publications alone, her share is Rs 21.50 crore. "We don't know what has happened to all these investments and bank deposits. We have information that her relative Deepak Jayaraman has filed an application claiming that he and his sister Deepa are the legal heirs," said a senior AIADMK leader.
Gold articles and jewellery weighing 21kg have been seized from her house and are now lying with the Karnataka government treasury. She also had silver articles to the extent of 1250kg worth Rs 3.12 crore in April 2016.
B Sivakumar| TNN | Updated: Dec 5, 2017, 06:56 IST
CHENNAI: Late chief minister J Jayalalithaa has left behind several assets in the form of immovable as well as movable assets. While the immovable assets may remain idle for years to come, movable assets like fixed deposits will lie untouched for about a decade till they are claimed either by the nominee or by those whose names are mentioned in her will, if any.
Jayalalithaa, as per her affidavit filed for the 2016 assembly election, has Rs 10.63 crore in fixed deposits in 11 bank branches in Chennai, Secunderabad and Elada-Kodanad. There are no details of whether she has nominated anyone. But bank sources told TOI that the deposits would remain for a decade before a decision was taken by higher officials. Of the total unclaimed cash lying in fixed deposits, Rs 2.47 crore was frozen in the wealth case.
As per bank rules, a fixed deposit can remain inoperable for 10 years. "Interest will accrue for the deposit and if there is a nominee for the deposit we will get a death certificate and release it. But if there is no nominee, then we have a separate procedure of seeking the death certificate and legal heir certificate and other documents. But with regard to the former chief minister, we have not received any demand so far," a senior bank official told TOI.
The banks have not received any will of the former chief minister and have no indication of who could be her legal heir. Nine fixed deposit accounts in PSU banks in Chennai and Secunderabad have been frozen. There are six fixed deposit accounts which have Rs 1 crore or above and the principal amount in two accounts is Rs 99.99 lakh each.
The former chief minister had also invested as partners in several companies including Shri Jaya Publications, Sasi Enterprises, Kodanad Estate, Royal Valley Floritech Exports and Green T Estate. Jayalalithaa invested Rs 27.44 crore in all these companies. In Jaya Publications alone, her share is Rs 21.50 crore. "We don't know what has happened to all these investments and bank deposits. We have information that her relative Deepak Jayaraman has filed an application claiming that he and his sister Deepa are the legal heirs," said a senior AIADMK leader.
Gold articles and jewellery weighing 21kg have been seized from her house and are now lying with the Karnataka government treasury. She also had silver articles to the extent of 1250kg worth Rs 3.12 crore in April 2016.
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