Search Results for "RBI Approval"

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Supreme Court Allows Bank's Appeal, Holds Borrower of Project Loan Not a Consumer Under Consumer Protection Act, 1986. Loan availed for commercial purpose of film post-production excludes company from consumer definition under Section 2(1)(d)(ii).

The Supreme Court considered two appeals arising from an order of the National Consumer Disputes Redressal Commission (NCDRC) dated 30.08.2023. The ap...

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Supreme Court Allows Banks' Appeals in RBI Fraud Classification Case Regarding Natural Justice Requirements. Court Holds No Absolute Right to Personal Hearing or Full Forensic Audit Report Disclosure Under RBI Master Directions Issued Under Section 35A Banking Regulation Act, 1949.

The dispute arose from the classification of loan accounts as 'fraud' by banks under the Reserve Bank of India's Master Directions. The appellant bank...

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Supreme Court Allows Appeals in Resolution Plan Approval Case, Overturning High Court's Dismissal. High Court Erred in Not Exercising Inherent Powers Under Section 151 CPC to Approve Plan Beneficial to Small Debenture Holders, Leading Supreme Court to Use Article 142 Powers for Approval.

The Supreme Court of India heard appeals challenging the Bombay High Court's order dated 16 December 2022, which dismissed an interim application file...

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Bombay High Court Dismisses Petitions Challenging RBI Circular Excluding Primary Cooperative Credit Societies from Deposit Insurance Coverage. Circular dated 22.02.2008 Held Valid as It Merely Clarifies Existing Definition Under Section 2(g) of DICGC Act, 1961.

The judgment concerns two writ petitions filed by cooperative credit societies challenging a circular dated 22.02.2008 issued by the Reserve Bank of I...

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Supreme Court Upholds RBI Circular Denying Arrears of Pension from Date of Retirement in Pension Option Case. Prospective Pension from July 1, 2020, Upheld as Valid Exercise of Employer's Discretion.

The Reserve Bank of India (RBI) appealed against a Division Bench judgment of the Kerala High Court that had dismissed its appeal against a Single Jud...