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High Court of Karnataka Dismisses Appeal Challenging DICGC Act Provisions in Cooperative Bank Deposit Insurance Dispute. Sections 18A(5) and 21(3)(4) of the Deposit Insurance and Credit Guarantee Corporation Act, 1961, held constitutional and not arbitrary.

The appellant, Sri G.K. Gururaja Rao, Secretary of Sri Guru Raghavendra Sahakara Bank Niyamitha, filed a writ petition under Article 226 of the Consti...

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Court Rejects SBI's Plea to Dismiss Commercial Suit for Fixed Deposit Fraud. Suit to Recover Rs. 36 Crores from SBI Proceeds Under Commercial Courts Act, Despite Allegations of Fraud by Bank Manager

A legal order from a commercial court addressing an application filed by the State Bank of India (SBI) to reject a plaint under Order VII Rule 11 of t...

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Bombay High Court Dismisses Second Appeal in Promotion Dispute Against Co-operative Bank — Bank Not 'State' Under Article 12. Employee's Claim for Promotion to Deputy Chief Officer Fails as Technical Cadre Employee Not Entitled to Consideration for General Cadre Post.

The appellant, Sudhir Chatarpal Kedar, a Civil Engineer, was appointed as Engineer/Officer Grade-I in the Maharashtra State Co-operative Bank in July ...

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Bombay High Court Upholds Conviction of Bank Manager and Co-accused in Branch Arson Case. Probation Benefit Denied for Offence Under Section 436 IPC as It Carries Life Imprisonment.

The case arises from an incident where the Poladpur branch of Mahad Co-Operative Urban Bank was set on fire on the night of 5th/6th September 1986. Th...

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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 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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Bombay High Court Dismisses Borrowers' Writ Petitions Challenging SARFAESI Proceedings by Cooperative Bank — Alternative Remedy Under Section 17 of SARFAESI Act Held Efficacious. Petitioners Directed to Approach Debt Recovery Tribunal for Relief Against Recovery Actions.

The judgment concerns a batch of writ petitions filed by borrowers (Arun Dattatraya Narake and others) against the Authorized Officer of Kolhapur Dist...

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Supreme Court Allows Revenue's Appeal in Income Tax Case on Unexplained Investment in Silver Bullion. Section 69A of Income Tax Act, 1961 Applicable Where Assessee Fails to Explain Source of Acquisition of Silver Found in Possession.

The present appeals were filed by the Revenue against the judgment of the Rajasthan High Court which allowed the appeals of the assessee, Prakash Chan...