My father had pledged certain Gold ornaments with the State Bank against sudden loan taken by him. My father has since died and I approach the Bank for release of the ornaments and offered them to pay the amount. The Bank is however refusing to do the same what should I do ?

My father had pledged certain Gold ornaments with the State Bank against sudden loan taken by him. My father has since died and I approach the Bank for release of the ornaments and offered them to pay the amount. The Bank is however refusing to do the same what should I do ?

Gold ornaments pledged with a Bank as security for loan obtained do not fall within the term “security” or “debt” and as such, bank cannot insist on a succession certificate when on the death of pledgor his successor approaches the bank for release of ornaments on payment of all dues.

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