Arvind Premchand Mehta (Hindu Undivided Family) had a Public Provident Fund (PPF) account at the Girgaon Post Office. The account was opened in 1995 and deposits were made till 2013.
In May 2016, a request was made to close the account. The postal authorities issued a cheque for Rs 4.12 lakh, even though the actual amount payable was Rs 6.07 lakh. When the reason for the gap in payment was sought, it was explained that the interest credited to the account had been impounded and forfeited for a period of five years from 2011 to 2016, because of a government notification to close down all ...
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