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High Court of Karnataka Allows Canara Bank's Appeal Against Refund Order in SARFAESI Auction Dispute — Bank Not Obliged to Refund 25% Deposit When Auction Purchaser Defaults on Balance Payment.

The appellant, Canara Bank, conducted an e-auction on 29 November 2021 of a property under the Securitisation and Reconstruction of Financial Assets a...

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Division Bench of Karnataka High Court Upholds Bank's Appeal, Reinstates Section 14 Order Under SARFAESI Act. Writ Petition Challenging Magistrate's Order Dismissed on Ground of Availability of Efficacious Alternate Remedy Under Section 17 of SARFAESI Act, 2002.

The appeal arose from a writ petition filed by respondent-borrowers challenging an order dated 13.03.2020 passed by the Chief Judicial Magistrate unde...

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Bombay High Court Allows Widow's Petition for Voluntary Retirement Benefits Despite Employee's Death Before Acceptance. Employer's Failure to Communicate Decision on VRS Application Within Reasonable Time Renders Deemed Acceptance.

The petitioner, Smt. Urmila Chandrakant Gaikwad, is the widow of Chandrakant Gaikwad, a permanent employee of Bank of Baroda who served from 7 October...

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Bombay High Court Quashes IDBI Bank's Wilful Defaulter Declaration Against Non-Executive Director. The Court Holds that Failure to Provide Copies of Documents and Fair Hearing Violates Principles of Natural Justice and RBI Guidelines.

Background: The writ petition was filed by a non-executive director of Ruchi Soya Industries Limited, a public listed company, challenging his declara...

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Supreme Court Allows Appeal in Bank Deficiency Case — Compensation Enhanced from Rs 1 Lakh to Rs 30 Lakh for Unauthorized Online Transfer. Bank's Gross Negligence in Linking School Accounts Without Request Leads to Full Liability Despite Alleged Principal Complicity.

The case involves a complaint by DAV Public School against Indian Bank for deficiency in service. The school maintained three accounts with the bank, ...

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High Court of Karnataka Allows Bank's Appeal Against Single Judge Order in Writ Petition Challenging Endorsement Under SARFAESI Act. Writ Petition Challenging Endorsement Under Section 13(2) of SARFAESI Act Held Not Maintainable Due to Alternative Remedy Under Section 17.

The appellants, Union Bank of India and its Chief Manager, filed a writ appeal under Section 4 of the Karnataka High Court Act against the order dated...

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High Court of Karnataka Dismisses Appeal Challenging DICGC Act Provisions in Cooperative Bank Deposit Insurance Dispute. Sections 18A(5) and 21(3)(4) of the Deposit Insurance and Credit Guarantee Corporation Act, 1961, held constitutional and not arbitrary.

The appellant, Sri G.K. Gururaja Rao, Secretary of Sri Guru Raghavendra Sahakara Bank Niyamitha, filed a writ petition under Article 226 of the Consti...

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Bombay High Court Dismisses Writ Petition Challenging SARFAESI Proceedings Against Guarantor's Property — Maintains That Guarantor Is a 'Borrower' Under Section 2(1)(f) of SARFAESI Act and That Writ Jurisdiction Is Not Available When Alternative Statutory Remedy Exists Under Section 17 of SARFAESI Act.

The petitioner, Mr. Latif Yusuf Manikkoth, filed a writ petition before the Bombay High Court challenging the possession notice issued by the Bank of ...