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Bombay High Court Issues Rule Nisi in Cyber Fraud Case Involving Unauthorized Withdrawals of Rs. 38.04 Lakh. Petitioner Claims Banks Breached RBI Guidelines on Internet Banking and Failed to Reverse Fraudulent Transactions.

The petitioner, a freelancer in business consultancy, maintained savings and current accounts with HDFC Bank since 2011 and 2016 respectively. On 14 J...

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Supreme Court Allows Appellant to File Complaints at Mangalore Under Section 138 NI Act. Territorial Jurisdiction Under Section 142(2)(a) of the Negotiable Instruments Act, 1881 Vests in Court Where Payee Maintains Bank Account, Not Where Cheque Deposited for Collection.

The appeals arose from the Supreme Court of India, Sanjay Kumar and Satish Chandra Sharma JJ., involving criminal complaints under Section 138 of the ...

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High Court of Karnataka Directs Refund of Forfeited Auction Amount in SARFAESI Sale Due to Bank's Failure to Issue Sale Certificate. Bank's Failure to Perform Reciprocal Promise Discharges Bidder from Obligation to Pay Balance.

The petitioner, Sri Kalyanamurthy K., participated in an e-auction conducted by the State Bank of India (respondent) for the sale of an immovable prop...

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Bombay High Court Dismisses Petition Challenging Forfeiture of Gratuity for Bank Employee Found Guilty of Financial Irregularities. Disciplinary Inquiry Sufficient for Forfeiture Under Section 4(6) of Payment of Gratuity Act, 1972; Acts Amount to Wilful Omission and Moral Turpitude.

The petitioner, Nanubhai Nichhabhai Desai, worked as a clerk with UCO Bank for over 31 years. His services were terminated by compulsory retirement wi...

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High Court of Bombay at Nagpur Hears Criminal Appeal Against Acquittal in Cheque Bounce Case. Trial Court Found Cheque Dishonoured but Dismissed Complaint for Lack of Authorization of Power of Attorney Holder Under Section 138 of Negotiable Instruments Act, 1881.

The present criminal appeal arose from the acquittal of the respondent-accused in a complaint under Section 138 of the Negotiable Instruments Act, 188...

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High Court of Karnataka Delivers Judgment in Appeal Against Dismissal of Suit for Recovery of Money Alleging Bank's Unauthorized Issuance of Demand Drafts from Cheque Mandate. The Appeal Involves Issues of Bank's Liability for Acting Contrary to Instructions Under Sections of Customs Act, 1962 and CPC.

The plaintiff, a registered company engaged in manufacturing television and monitor components, imported goods and stored them in a bonded warehouse. ...

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High Court of Bombay at Nagpur Allows Appeal in Negotiable Instruments Act Case — Cheque Dishonour Conviction Restored. Appellant-Society Proves Loan Liability and Issuance of Cheque for Discharge of Debt, Reversing Acquittal Under Section 138 of the Negotiable Instruments Act, 1881.

The appellant, Vishal Nagari Sahakari Pat Sanstha Maryadit, a cooperative society registered under the Maharashtra Cooperative Societies Act, 1960, fi...

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Bombay High Court Acquits Bank Accountant in Corruption and Forgery Case Due to Lack of Evidence. Conviction under Prevention of Corruption Act, 1947 and IPC Sections 420, 467, 468, 471 Set Aside as Prosecution Failed to Prove Misappropriation Beyond Reasonable Doubt.

The appellant, Ramakant Devidas Solkke, was an accountant at the State Bank of India, Main Branch, Akola. On 30 April 1986, Bharat Petroleum Corporati...