Bank Cannot Unilaterally Withdraw Funds from Joint Account to Recover Loan Owed by One Account Holder: Orissa High Court
The Orissa High Court, in a significant judgment delivered on October 17, 2025, held that a bank cannot unilaterally deduct money from a joint account to recover a loan owed by only one of the account holders. The ruling came in the case Bharat Chandra Mallick VERSUS Branch Manager, State Bank of India, where Justice Sanjeeb K. Panigrahi delivered the order. The Court emphasized that funds representing a pension retain…
