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High Court Quashes FIR Against Bank Officials and BGR Energy Executives in Bank Guarantee Dispute -- No Criminal Intent Found in Commercial Transaction Under IPC Sections 420, 403, 406, 418, 425, 427 read with 34

The High Court quashed an FIR registered against bank officials and company executives alleging criminal offences in connection with bank guarantee tr...

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Supreme Court Quashes Criminal Prosecution Under Sections 420 and 471 IPC Following Settlement of Loan Account Approved by Debts Recovery Tribunal — Criminal proceedings cannot continue after compromise of civil debt where no element of cheating from inception exists.

The case involves an appeal by Vijay Kumar Kela and his proprietary firm against an order of the Chhattisgarh High Court refusing to quash criminal pr...

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NCLAT Allows Appeal Against Admission of CIRP Due to Discharge of Debt Through One-Time Settlement. Financial Debt Found to Be Fully Satisfied Prior to Filing of Section 7 Application Under Insolvency and Bankruptcy Code, 2016.

The present appeal was filed under Section 61 of the Insolvency and Bankruptcy Code, 2016 (IBC) by Mr. Puneet Resutra, the erstwhile Director and Shar...

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Supreme Court Reinstates Bank's Disciplinary Action Against Employee for Negligence in Cash Handling. High Court's Interference with Departmental Inquiry Findings Set Aside as Judicial Review Limited to Procedural Fairness and Perversity Under UCO Bank Regulations.

The Supreme Court considered an appeal challenging the High Court's decision that quashed disciplinary proceedings against a bank employee. The respon...

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Supreme Court Upholds Conviction of Bank Manager in Embezzlement Case — Circumstantial Evidence Sufficient to Prove Criminal Conspiracy and Misappropriation of Funds

The appellant, N. Raghavender, was the Branch Manager of Sri Rama Grameena Bank, Nizamabad Branch from May 1990 to September 1995. He was convicted by...

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Bombay High Court Allows Winding Up of S. Kumars Nationwide Ltd. for Inability to Pay Debts. Multiple financial creditors and operational creditors successfully proved the company's insolvency under Sections 433(e) and 434 of the Companies Act, 1956.

The judgment concerns a batch of company petitions filed by various financial creditors and operational creditors seeking the winding up of S. Kumars ...

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Bombay High Court Quashes FIR Against Bank for Alleged Criminal Breach of Trust Due to Branch Closure Without Notice. Closure of bank branch without prior notice does not constitute criminal breach of trust under Sections 406, 409 IPC as there is no dishonest misappropriation of deposits.

The applicant, Wainganga Krishna Gramin Bank, filed a criminal application under Section 482 of the Code of Criminal Procedure, 1973 (CrPC) seeking qu...

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High Court of Bombay at Nagpur Quashes Removal of Bank Officer in Disciplinary Proceeding for Violation of Natural Justice. Non-Supply of Documents and Enquiry Report, and Bias by Enquiry Officer Lead to Setting Aside of Removal Order Under Service Law.

The petitioner, Balaji Digambarrao Kotgire, was appointed as a Clerk-cum-Cashier in the Oriental Bank of Commerce on 7th July 1979. He was later promo...