Banking · Garnishee Order
A Garnishee Order for ₹1,50,000 is served on a bank. The judgment debtor, Mr. Arvind, maintains the following credit balances at the branch: • Savings Account (Individual): ₹60,000 • Current Account (Individual): ₹40,000 • Joint Savings Account with his wife ('Either or Survivor'): ₹80,000 What is the total amount the bank must attach under the Garnishee Order?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1₹2,50,000
- 2₹1,50,000
- 3₹1,00,000✓
- 4₹1,80,000
Correct answer
₹1,00,000
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