LATEST NEWS ON BANKING LAW

IBBI is organising 17th Advanced Workshop on Case Study of Resolution of JEKPL & Monnet Ispat (MIEL)

Aug 12, 2022

An intention to initiate CIRP for ‘Recovery’ of their dues is not the ultimate purpose of the Code

Aug 11, 2022

IBBI with IIM Bangalore organises 2nd International Research Conference on Insolvency and Bankruptcy

Aug 10, 2022

SC: The documents can be filed at any time until the application for CIRP is finally dismissed

Aug 9, 2022

The Insolvency & Bankruptcy Board invites applications for the post of Whole Time Member in the IBBI

Aug 6, 2022

A duly audited Balance Sheet will act as an acknowledgement of debt

Aug 6, 2022

The right to cross-examine the respondent-complainant cannot be denied to the appellant under NI Act

Aug 5, 2022

Application u/s 7 IBC would not be barred if there is a valid acknowledgement of the debt by the CD

Aug 4, 2022

Every person connected with the company does not fall within the ambit of Section 141 of the NI Act

Aug 3, 2022

MOST VIEWED

Sep 7, 2021

Madhya Pradesh High Court stays RBI Circular on urban co-operative banks

The Madhya Pradesh High Court has delayed a Reserve Bank of India Circular that imposed certain requirements on Urban Cooperative Banks....

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...

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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...

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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

The supreme Court observed that the Single Bench of the High Court rightly granted relief to the Respondent. By the impugned judgment and order, the Division Bench of the High Court dismissed the Appeal of the Appellants and directed that the Respondent would have to be treated in service from the date of removal till the date of actual reinstatement in service and would accordingly, be entitled to seniority and the right to be considered for promotion, but would not be entitled to back wages.
The Bench found no infirmity with the concurrent findings of the Single Bench and the ...

Central Bank of India and Others v. Dragendra Singh Jadon

August 1, 2022

REED 2022 SC 08003

After empowering the Court to pass an order directing the accused to pay interim compensation under Sub-Section 1 of Section 143A, Sub-Section 2 then mandates that such interim compensation should not exceed 20 per cent of the amount of the cheque. The period within which the interim compensation must be paid is stipulated in Sub-Section 3, while Sub-Section 4 deals with situations where the drawer of the cheque is acquitted. Said Sub-Section 4 contemplates repayment of interim compensation along with interest as stipulated. Sub-Section 5 of said Section 143A then states “the in...

Noor Mohammed v. Khurram Pasha

August 1, 2022

REED 2022 SC 08002

High Court

Relevant Clauses of the Circular No.7296 on Promotion Policy makes it clear that Law Officers of the Transferor Banks, who were already Generalist Officers in Scale IV, prior to the Scheme, cannot be considered as Specialist Officers after the Scheme. The petitioners, who were Generalist Officers working in the specialist segment cannot automatically claim that they should be treated as Specialist Officers and any such conversion would be subject to the promotion policy of the Union Bank of India.
Admittedly, in the case on hand, the petitioner had not challenged the validity of...

All India Union Bank Officer Staff Association and Others v. Government of India and Another

April 28, 2022

REED 2022 Mad 04004

In the case at hand, at the most, there could be irregularity in the bank proceedings, therefore there was no mens rea in the case and any irregularity done without mens rea could not amount an offence. Further, civil liability & claims cannot be settled by applying pressure with the aid of criminal proceedings and criminal prosecution should not be used as an instrument of harassment or for seeking private vendetta or with an ulterior motive to pressure the accused. Even if all the averments made in the FIR were taken to be correct, the case for prosecution under 409, 420, 467,...

Hariom Sharma v. State of M.P.

March 29, 2022

REED 2022 MP 03031

LATEST CIRCULARS & NOTIFICATIONS

Insolvency and Bankruptcy Board of India

Circular No. EXAM-13016/1/2022-IBBI

June 5, 2022

Circular

Reserve Bank of India

Press Release: 2021-2022/1871

March 15, 2022

Press Release

Reserve Bank of India

Press Release: 2021-2022/1851

March 10, 2022

Press Release

Reserve Bank of India

Press Release: 2021-2022/1850

March 10, 2022

Press Release

Bank CLR

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