LATEST NEWS ON BANKING LAW

MCA invites applications for the selection of posts of Judicial and Technical Members in the NCLATs

Oct 19, 2021

RBI imposes a penalty of ₹1.95 crore on Standard Chartered Bank for non-compliance with directions

Oct 19, 2021

Karnataka Bank appoints Pradeep Kumar Panja as part-time chairman for a period of three years

Oct 19, 2021

RBI looking for proposals to takeover PMC

Oct 19, 2021

RBI imposes a penalty of ₹1 crore on the State Bank of India for non-compliance with its directions

Oct 19, 2021

RBI withdraws direction issued to Hindu Cooperative Bank Limited, Pathankot, Punjab

Oct 15, 2021

RBI setting out a uniform credit reporting format for the Credit Information Companies - [See Noti.]

Oct 15, 2021

RBI imposes monetary penalty on the Sahyadri Sahakari Bank Limited

Oct 14, 2021

Government assigns additional charge of Chairperson, IBBI to Wholetime Member - Dr Navrang Saini

Oct 14, 2021

MOST VIEWED

Jan 8, 2021

RBI cancels registrations of 3 Non-Banking Financial Companies, 6 others surrender their licences

The Reserve Bank of India has cancelled the registration of three non-banking finance companies, while six others have surrendered their...

Jun 9, 2021

RBI imposes a penalty of ₹4 crore on the Bank of India for non-compliance with regulatory provisions

The Reserve Bank of India (RBI) has imposed, by an order dated 7 June 2021, a monetary penalty of ₹4.00 crore (Rupees Four crore only) on...

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Individual Insolvency

ARTICLES

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Sep 3, 2021

Role of Banking Ombudsman in India - An Analysis

The best quality of service supplied to a customer is currently the most significant thing to consider in the banking system. If the customer service offered meets the cl...

REEDLAW

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Aug 24, 2021

Cheque dishonour proceedings require expeditious resolution

The large backlog and pending cases/disputes before various judicial venues, Courts, Tribunals, and other bodies have been regularly bemoaned by Indian courts. 'Justice d...

REEDLAW

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Aug 27, 2021

Irretrievable prejudice would be done if bank guarantee is allowed to be encashed

A Bank Guarantee (BG) is a common method of securing payment of money in commercial transactions because the beneficiary is entitled to receive the entire amount under th...

REEDLAW

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Aug 23, 2021

Applicability of Moratorium under IBC on Cheque Dishonour Proceedings

A moratorium as defined in Section 14 of the Insolvency and Bankruptcy Code 2016 (IBC), is a time during which no new suits or continuations of existing ones against a co...

Ruchitha D.

LATEST CASE LAWS

Supreme Court

It was difficult to comprehend as to why it would have been drawn for Rs.1,50,000/( Rupees one lakh fifty thousand only) only when it is the case of the appellant that the advance amount paid was Rs.3,50,000/( Rupees three lakh fifty thousand only) and had to get back the entire advance paid. The natural conduct would have been to secure for the full amount if that was the situation. Keeping all these aspects in view, the case put forth by the respondent does not satisfy the requirement of rebuttal even if tested on the touchstone of preponderance of probability. Therefore, in t...

Triyambak S. Hegde v. Sripad

September 22, 2021

REED 2021 SC 09008

The termination has been found to be contrary to the regulations and hence, illegal. The issue which survives is in regard to the grant of relief. The first respondent served for a period of less than three years from 31 July 1980 until his appointment was terminated on 14 June 1983. Over thirty-eight years have elapsed since the date of the termination. Having regard to the above circumstances and the nature of the appointment, the Apex Court were of the view that a direction for the payment of compensation in lieu of the reliefs which have been granted by the Trial Judge (and ...

Zila Sahkari Bank Limited v. Ram Niwas and Another

August 30, 2021

REED 2021 SC 08004

High Court

Irretrievable injury, has to be such a circumstance which would make it impossible for the guarantor to reimburse himself, if he ultimately succeeds. This will have to be decisively established and it must be proved to the satisfaction of the court that there would be no possibility whatsoever of the recovery of the amount from the beneficiary, by way of restitution. Commitment of banks must be honoured free from interference by the courts and it is only in exceptional cases, that is to say, in case of fraud or in a case where irretrievable injustice would be done if bank guaran...

SKS Power Generation (Chattisgarh)Limited v. Canara Bank

August 10, 2021

REED 2021 Bom 08560

The text of Section 60(2) discloses that Section 60 of the Code would apply to an individual only if there is a corporate insolvency resolution process pertaining to the corporate entity which was the principal debtor, that has been filed or commenced. In other words, in case of company ‘A’ being the principal debtor and an individual ‘P’ the guarantor promising repayment of the credit facilities obtained by ‘A’, if a corporate insolvency resolution process is initiated under the provisions of the Code pertaining to company ‘A’, the insolvency resolution process pertaining to gu...

Rohit Nath @ Rohit Rabindra Nath v. KEB Hana Bank Limited

July 27, 2021

REED 2021 Mad 07578

LATEST CIRCULARS & NOTIFICATIONS

Reserve Bank of India

Press Release: 2021-2022/1059

October 17, 2021

Press Release

Reserve Bank of India

Press Release: 2021-2022/1060

October 17, 2021

Press Release

Reserve Bank of India

Press Release: 2021-2022/1048

October 13, 2021

Press Release

Reserve Bank of India

Notification No. RBI/2021-22/111
DoR.FIN.REC.59/20.16.056/2021-22

October 13, 2021

Notification

Bank CLR

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