Fixed deposit repayment must be made to the named depositor; third-party funding cannot defeat the bank's duty.

A bank must honour a fixed deposit standing in the named depositor's account and repay the maturity proceeds to that depositor on maturity. Any private arrangement that a third party supplied the funds does not alter the bank's contractual duty, and the bank cannot refuse payment or credit interest to a stranger without the depositor's instructions. The writ petition was maintainable because the relevant facts were admitted and no detailed trial was required. Any separate monetary claim by the third party had to be pursued independently and could not justify withholding payment to the depositor.

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Issues: Whether the bank could refuse payment of the maturity proceeds of a fixed deposit standing in the petitioner's name on the ground that a third party had supplied the funds and whether the writ petition was maintainable to enforce repayment.

Analysis: The fixed deposit receipt was issued in the petitioner's name and the bank's obligation was therefore owed to the petitioner as depositor. Any arrangement between the petitioner and the third party from whose account the funds were routed did not alter the bank's contractual duty to repay the depositor on maturity. A nationalised bank, being subject to public law obligations, cannot withhold payment to the named depositor or credit interest to a stranger in the absence of instructions from the depositor. The matter did not require a detailed trial of disputed facts because the essential facts relevant to the bank's obligation were admitted. The existence of any separate monetary claim by the third party was a matter for independent proceedings and could not justify refusal of payment by the bank.

Conclusion: The writ petition was maintainable and the bank was bound to pay the maturity value with applicable interest to the petitioner; the bank could not insist on consent from the third party.

Final Conclusion: The bank's duty to honour the fixed deposit in the depositor's name prevailed over any private dispute with a third party, and the petitioner obtained the relief sought.

Ratio Decidendi: A bank must repay a fixed deposit to the named depositor on maturity, and a third party's alleged funding arrangement cannot defeat that obligation in the absence of the depositor's instructions.

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