Money mistakenly transferred to another persons account
I have done the online transfer of 36365.00 Rupees but because of my mistake i have tranferd the amount to another person who was added in my payee list. the person who got the money denied to refund and bank also told that they can't do any any thing. You can take the help of court only.This is very big amount for me and i need this money in any how. Kindly request to you please help me on that.
There are no specific laws which deal with such situation and neither do the banks have any authority or standard practise to retrieve such transfer of money into a wrong account. The Banks may have helped you if you had made a mistake in giving a completely wrong account number which is not held by anyone. In the present scenario it is out of the scope of bank’s authority to retrieve money from an account without the consent of that account’s holder, after the payment is made.
Thus remedy in this case can be obtained only through legal means; you can file a FIR with the police station having appropriate jurisdiction and record your complaint. The person who is refusing to return the money can be booked under two provisions of the Indian Penal Code, 1860, they are:
Theft: The person can be said to have committed theft as the act done by him constitutes all the essentials of theft; he continued to possess the money even after you asked him to return it knowing that it did not belong to him and you did not intended to give it to him, this can be constructed so as to mean that he intentionally moved the money from your possession without your consent, which essentially means that he committed theft.
If the same is proved then he may be imprisoned for a term which may extend to three years or he may be fined or both.
Dishonest misappropriation of property: In the present case it may not be apparent that theft has been committed but dishonest misappropriation of your money has definitely been done by the person in whose account you transferred the money. He has dishonestly misappropriated your money for his own use, by virtue of refusing to return it to you, knowing fully that it was not meant for him to keep.
This can be better understood with the illustration given under Section 403of the IPC:
(e) A finds a purse with money, not knowing to whom it belongs; he afterwards discovers that it belongs to Z, and appropriates it to his own use. A is guilty of an offence under this section.
In the present case a parallel can be drawn with this illustration where when money was transferred into that person’s account he did not knew whom it belonged to but later on came to know that it belonged to you and still refused to return it and is appropriating it for his own use, thus he is guilty of dishonest misappropriation of your money.
If found guilty under this provision he may be, imprisoned for a term which may extend to two years, or fined, or both.
It is to be noted that even if it was a mistake on your part to transfer the money to his account, the same can’t be used as a defence by him for committing the offences as mentioned above. It is very likely that the police would register a complaint on this basis against him and once they are able to prove his guilt, he would be punished by the court and you would be able to recover your money. In order to ensure that his guilt is proved make sure that you provide the authorities with all the essential proofs like, the details of the transfer, proof of you asking for the return of money and him refusing it, the statement of the person to whom this payment was actually intended to be made would also help.
S. 378, Indian Penal Code, 1860.
S. 403, Indian Penal Code, 1860.
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