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NCLAT Dismisses Liquidator's Appeal Seeking Return of Bank Guarantees and Margin Money Post-Invocation. Bank Guarantee Invocation Extinguishes Both Margin Money and Bank's Liability, Liquidator Cannot Claim Refund.

The case involves an appeal by Mr. Rajendra Prasad Tak, the Liquidator of M/s. KVK Nilachal Power Pvt. Ltd. (Corporate Debtor), against an order of th...

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Supreme Court Allows Bank of Baroda's Appeal Against High Court Order Quashing Termination of Probationary Employee. Unsatisfactory Performance and Misconduct During Probation Justify Termination Without Stigma.

The present appeal arises from a judgment of the Calcutta High Court which allowed the writ petition of the respondent-employee and quashed his termin...

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High Court of Bombay at Goa Considers Writ Petition by Employer Bank Against Industrial Tribunal Award Directing Reinstatement — Workman Status Under Industrial Disputes Act Contested. Court Examines Whether Termination Based on Settlement Clause Was Justified and Whether Back Wages Should Be Awarded.

The case involves a writ petition filed by The Goa Urban Co-op. Bank Ltd. challenging an award dated 30.08.2003 passed by the Industrial Tribunal, whi...

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Supreme Court Allows Appeal by Bank in Transfer Case — Transfer Order Restored with Alternative Posting Options. Allegations of Malafide Transfer Not Established; Bank's Administrative Exigency Upheld.

The case involves a senior officer of Punjab and Sind Bank, Mrs Durgesh Kuwar, who was appointed as a Probationary Officer in 1998 and promoted to Chi...

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Bombay High Court Examines Applicability of Employees' Provident Funds Act to Pigmy Agents of Cooperative Banks. Writ Petitions Filed by Both Banks and Provident Fund Authorities Challenge Tribunal Orders on Coverage of Such Agents Under Section 18(3)(d) of Industrial Disputes Act, 1947.

A group of writ petitions came before the Bombay High Court, Nagpur Bench, filed by multiple cooperative banks and by the Assistant Provident Fund Com...