Search Results for "Loan Recovery"

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Bombay High Court Allows Pension Benefits to Retired Bank Employee Despite Delay in Deposit of Contribution Amount Under Joint Note Dated 27 April 2010. The court held that the three-day period for deposit was unreasonable and that the petitioner's substantial compliance warranted granting pension.

The petitioner, Ramesh Gajanan Nigudkar, joined the Bank of Baroda as a subordinate staff member on 4 March 1967 and retired after 39 years of unblemi...

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High Court of Bombay Allows Application to Relax Bail Conditions After Death of Accused in Bank Fraud Case. Conditions Imposed to Secure Bail of Chairman of Cooperative Bank Held Inoperative Upon Death, and Legal Representatives Not Liable.

The case involved an application by the legal representatives of deceased Narayan Motilal Kabre seeking relaxation of conditions imposed by the High C...

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High Court of Karnataka Quashes FIR Against Company and Directors in Prevention of Corruption Act Case Due to Lack of CBI Jurisdiction. Registration of FIR Without Involvement of Public Servant and Based on RBI Master Circular Held Without Authority, and Section 120B IPC Cannot Apply Standalone.

The case involved Associate Lumbers Private Limited and its directors, who had availed loan facilities from Corporation Bank (later Union Bank of Indi...

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Bombay High Court Quashes Section 138 NI Act Proceedings Against Directors for Lack of Specific Averments. Vicarious Liability Under Section 141 Requires Specific Allegations of Role in Conduct of Business.

The petitioners, comprising a company and its directors, filed a writ petition under Article 226 of the Constitution read with Section 482 of the Code...

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Bombay High Court Upholds Compulsory Retirement of Bank Manager for Misconduct in Loan Sanctions. Disciplinary Proceedings Valid as Charges of Failing to Exercise Due Diligence and Integrity in Sanctioning Loans Were Established, and Penalty Not Disproportionate.

The petitioner, R.M. Yadav, was a Branch Manager at Bank of India's Agardanda branch. In 2003, disciplinary proceedings were initiated against him for...