PPF Account cannot be attached by banks for Settlement of Debt/ Liability

Rajnikant Punjalal Shah Karta of Rajnikant Punjalal Shah HUF  Vs Manager, Bank of Baroda (Gujarat High Court) HC held that It is not in dispute that respondent Bank have withdrawn/debited amount of Rs.85,380/- from the PPF Account of the petitioner. It is well settled proposition of law that the amount of Public Provident Fund account shall not be liable to any attachment in respect of any debt or liability incurred by the account holder. Thus, the action of the respondent Bank of withdrawing/debiting the aforesaid amount from the PPF Account of the petitioner is illegal and unjustified. FULL...