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Bombay High Court Quashes Bank's Wilful Defaulter Declaration for Violating Natural Justice. Show-cause notice lacking specific grounds renders the decision invalid under RBI Master Circular on Wilful Defaulters.

The petitioners, Nitin Shah, Rahul Shah, and Kunal Shah, who were directors of Nitin Fire Protection Industries Ltd. (the corporate debtor under CIRP)...

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High Court of Karnataka Allows Appeal by Liquidator in Recovery Suit Against Bank for Wrongful Payment After Liquidation — Bank Liable to Pay Fixed Deposit Amount to Liquidator Despite Payment to Company Director After Winding Up.

The plaintiff, Gowribidanur Sahakara Sakkare Karkhane Ltd., a co-operative society under liquidation, filed a suit for recovery of money against India...

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Madras High Court Allows Bank's Writ Petition for Registration of SARFAESI Sale Certificate Despite Prior Sale Deeds by Mortgagor. Sub-Registrar Directed to Register Sale Certificate as Unauthorised Sales by Mortgagor Do Not Bind Secured Creditor.

The case involved a writ petition filed by Canara Bank under Article 226 of the Constitution seeking a mandamus to direct the Sub-Registrar, Kelamanga...

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Bombay High Court Dismisses Discharge Application of Accused in Bank Fraud Case Due to Prima Facie Evidence of Conspiracy. Allegations of conspiracy between bank officials and partners of a firm to sanction credit facilities beyond limits and misappropriate funds under IPC and PC Act warrant trial.

The applicant, original accused no.5, filed a criminal application under Section 482 of the Code of Criminal Procedure, 1973 challenging the order dat...

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Supreme Court Allows Bank's Appeal Against Confiscation Orders Under Central Excise Act and SARFAESI Act. Commissioner's Use of Omitted Rule 173Q(2) Invalid and SARFAESI Act Grants Priority to Secured Creditors Over Excise Dues.

The appeal arose from a judgment of the Allahabad High Court dismissing a writ petition filed by Punjab National Bank. The bank had extended credit fa...

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Karnataka High Court Examines Canara Bank's Unauthorised Recovery of Excess Pension from Widow's Family Pension Account. The Court Noted the Bank's Arbitrary Conduct in Withholding Pension and Debiting Funds Without Due Process, Emphasising the Need for Fairness Under Article 12 of the Constitution.

The writ petition was filed under Article 226 of the Constitution of India by Smt. Vimala Ramanath Pawar, a 73-year-old widow, seeking a direction to ...

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Bombay High Court Allows Appeal by Bank in Unfair Labour Practice Case — Reinstatement of Daily Wager Denied Due to Lack of Continuous Service. Employee failed to prove 240 days of continuous service in preceding year, disentitling him to protection under Section 25F of Industrial Disputes Act, 1947.

The present Letters Patent Appeal was filed by the Nagpur District Central Co-operative Bank Ltd. (the appellant) challenging the judgment of a learne...

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Bombay High Court Allows Retired Bank Employee's Petition Against Unilateral Withholding of Pension. Pension is a property right and cannot be stopped without show cause notice or disciplinary proceedings under Bank of Maharashtra Pension Regulations.

The petitioner, Devanand s/o Galomal Nichwani, was a computer operator/clerk at Bank of Maharashtra, Jaripatka Branch, Nagpur. He opted for voluntary ...