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Bombay High Court Dismisses Writ Petition Against Termination by District Central Cooperative Bank, Holding It Not a State Under Article 12. Cooperative Bank Employee's Challenge to Dismissal Fails as DCC Bank Is Not an Instrumentality of the State and No Violation of Natural Justice Established.

The petitioner, Kiran Rangnath Kale, was employed as a Manager at the Beed District Central Cooperative Bank (respondent No. 3). He was initially appo...

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High Court of Judicature at Bombay Adjudicates Letter of Credit Dispute in Common Judgment for Two Suits Arising from Alleged Discrepant Documents. Bank's Liability for Wrongful Debit Examined Under UCP 290 with Emphasis on Strict Compliance and Discrepancy in Shipping Documents.

Two suits were filed arising from a documentary import Letter of Credit facility granted by State Bank of India to Dadlani Silk Stores. Suit No. 1012 ...

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High Court of Karnataka Upholds Acquittal in Cheque Bounce Case Due to Failure to Prove Debt Liability. Complainant Bank Failed to Establish Legally Enforceable Debt or Liability Under Section 138 of Negotiable Instruments Act, 1881.

The appellant, Bidar Urban Co-operative Bank Ltd., filed a criminal appeal against the acquittal of the respondent, Girish Kulkarni, by the trial cour...

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Supreme Court Upholds Assessee's Right to Carry Forward Loss as Vocation Income Under Income-tax Act, 1922. Hold that Decision on Loss in Previous Year Not Binding on Subsequent Year's Officer Under Section 24(2).

The assessee, Manmohandas, was appointed as Treasurer of a Bank in respect of certain branches, sub-agencies, and pay offices. During the previous yea...

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Bombay High Court Dismisses Writ Petition Challenging Termination of Bank Officer for Unauthorized Absence. Petitioner's employment terminated under Regulation 19 of Syndicate Bank (Officers') Service Regulations, 1979 for remaining absent without leave for over 90 days.

The petitioner, Rohit Dewan, was appointed as a Senior Manager (FS) by Syndicate Bank on January 7, 2011, governed by the Syndicate Bank (Officers') S...

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Bombay High Court Dismisses Bank Employee's Petition to Withdraw Voluntary Retirement Application Under Vijaya Bank's Special VRS Scheme. The Application Was Held Irrevocable Under Clause 11.2.0 of the Scheme, and the Employee Could Not Withdraw After Acceptance Even Before Relieving Date.

The dispute arose from an application for voluntary retirement submitted by the petitioner, an Assistant Manager of Vijaya Bank, under the Vijaya Bank...

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Bombay High Court Dismisses Petition Challenging Rejection of Discharge in Bank Fraud Case — Petitioner, a General Manager of a Cooperative Bank, Allegedly Violated RBI Guidelines by Investing in Non-SLR Securities Through a Broker, Causing Loss to the Bank.

The petitioner, Kishore Deshpande, was the General Manager of CKP Co-operative Bank Ltd. and was arraigned as accused No.5 in FIR No. RC 8/E/2010 regi...

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Bombay High Court Dismisses Petition Challenging Termination of Managing Director by ICICI Bank. Court upholds termination based on adverse enquiry report and RBI approval, rejecting challenge to communication of approval.

The petitioner, Chanda Deepak Kochhar, was the Managing Director and CEO of ICICI Bank. She joined the bank in 1984 and held various positions until h...

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High Court of Karnataka Directs Banks to Comply with RBI Prudential Framework for Stressed Assets Resolution in Writ Petition by Borrower Company. The court held that the RBI circular dated June 7, 2019, is binding on banks and that the borrower has a right to seek a review meeting under the framework.

The petitioner, Ganjam Nagappa and Son Private Limited, a company incorporated under the Companies Act, 1956, filed a writ petition under Articles 226...