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Even though an alternative statutory remedy exists, High Court can still exercise its jurisdiction

Aug 4, 2023

'Audi Alteram Partem' in Banking Law Ensures Fairness in Account Classification as Fraud: SC

Jun 3, 2023

Secured Creditors' Right to Realise Secured Debts have Priority over Other Debts & Government Dues

May 30, 2023

RBI approves the voluntary amalgamation of Maratha Sahakari Bank with The Cosmos Cooperative Bank

May 27, 2023

₹2000 Denomination Banknotes – Withdrawal from Circulation; Will continue as Legal Tender: RBI

May 26, 2023

The amount deposited by the auction purchaser cannot be adjusted towards the borrower's pre-deposit

May 23, 2023

₹ 2,000 Banknotes Withdrawal: RBI Governor Urges Customers Not to Rush to Banks

May 22, 2023

₹ 2,000 banknotes exclusively be deposited in respective bank accounts: PIL filed in Delhi HC

May 22, 2023

Controversy Erupts: Central Govt's Ordinance Challenges Supreme Court Ruling on Delhi Admn. Services

May 20, 2023


Dec 9, 2022

Sole Proprietor can be prosecuted under section 138 NI Act, without arraying the proprietorship firm

The Punjab & Haryana High Court held that non-arraying of the proprietorship firm/concern is not an impediment in proceeding against the...

Oct 13, 2022

Section 138 of NI Act would be applicable only where a legally enforceable debt exists on the date

The Supreme Court Bench comprising Justices Dr Dhananjaya Y Chandrachud and Hima Kohli was hearing an Appeal on Tuesday and held that...

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Individual Insolvency


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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...


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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.


Supreme Court

In the instant case, it is not disputed that three drafts were issued by an NRI from Malaysia for the purchase of three flats. Out of three, one draft was for the sum of Rs. 5 lakhs dated 28.06.1996 and two drafts were for Rs. 3 lakhs & Rs. 6 lakhs dated 18.11.1996. It is also not disputed that the two drafts in question were issued in the name of “D-Cube Construction” and not in the name of “D-Cube Constructions (P) Ltd.” The Current Account No. 3600 was in the name of “D-Cube Constructions (P) Ltd.”, whereas the Current Account No. 4160 was opened on 15.02.1997 in the name of ...

The Chairman & Managing Director, City Union Bank Limited and Another v. R. Chandramohan

March 27, 2023

REED 2023 SC 03003

The civil appeals arise out of a challenge to the Reserve Bank of India (Frauds Classification and Reporting by Commercial Banks and Select FIs) Directions 2016.1 Issued by the Reserve Bank of India2, these directions were challenged before different High Courts primarily on the ground that no opportunity of being heard is envisaged to borrowers before classifying their accounts as fraudulent. The High Court of Telangana has held in the impugned judgment3 that the principles of natural justice must be read into the provisions of the Master Directions on Frauds. The decision has ...

State Bank of India and Others v. Rajesh Agarwal and Others

March 27, 2023

REED 2023 SC 03002

High Court

Approval of a resolution plan did not automatically discharge the personal guarantor of a corporate debtor from their liabilities under the guarantee contract.

In the present case, a writ petition was filed by a petitioner seeking to quash a demand notice issued by Rural Electrification Corporation Limited (REC Ltd.) on 09.12.2022, invoking the petitioner's personal guarantees for the outstanding debt of Rs. 1211.91 crores. The petitioner had acted as a personal guarantor for a loan taken by FACOR Power Ltd. from REC Ltd.

REC Ltd., being a state company under the Ministry of P...

Vineet Saraf v. Rural Electrification Corporation Limited

July 21, 2023

REED 2023 Del 07697

The petitioner's writ petition was dismissed as it sought the same reliefs already pursued through other proceedings, emphasizing the importance of utilizing established statutory remedies for debt recovery.

The petitioner, a guarantor to a loan taken by a borrower company, filed a petition under Article 226 of the Constitution of India, seeking various reliefs related to the loan and the actions taken by the respondent bank. The petitioner's main contentions were centered around the applicability of the Micro, Small and Medium Enterprises Development (MSMED) Act over the Secur...

Latif Yusuf Manikkoth v. The Board of Directors of the Bank of Baroda and Others

July 20, 2023

REED 2023 Bom 07685


Reserve Bank of India

Press Release: 2023-2024/292

May 26, 2023

Press Release

Reserve Bank of India

DCM(Plg) No.S-239/10.27.00/2023-24

May 22, 2023


Reserve Bank of India

DCM(Plg) No.S-236/10.27.00/2023-24

May 19, 2023


Ministry of Law and Justice

Ordinance No. 1 of 2023

May 19, 2023


Bank CLR

2021 Subscription

India's Leading Monthly Journal For Banking Lawyers & Practitioners

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