loan
Bombay High Court| ‘Deposit receipt’ confirming accounts amounts to a written contract for a summary suit to be maintainable
Bombay High Court: In a commercial division summary suit instituted by Aziz Amir Ali (‘plaintiff’) who is former employee of a registered
Can low CIBIL Score of a co-borrower be a reason for denial of an education loan? Ker HC deciphers
Kerala High Court: In a case wherein, due to low CIBIL Score education loan was denied, N. Nagaresh, J., directed for reconsideration
No offence made out under POA Act against bank officials who misplaced the house documents and title deeds of a claimant as FIR does not show wilful Negligence by a public servant
Andhra Pradesh High Court: C Praveen Kumar, J. allowed the petition and quashed the FIR in Crime No.294 of 2013 of II
Law on Cheque Dishonour | Merely because cheques in question are security cheques, would that save accused from clutches of law under S. 138 NI Act, in case of admitting taking loan against cheques? Court answers
Rohini Court, North-West, Delhi: Ritika Kansal, MM(NI) reiterated the settled position of law that, “…an accused has to prove his defence by
Magistrate required to exercise judicious discretion before ordering interim compensation, S. 143-A NI Act not mandatory: Kar HC
Karnataka High Court: Rajendra Badamikar, J., reversed an order of the Magistrate which had directed the petitioner accused to deposit 20% of the
If a cheque was issued in favour of complainant, would she still be required to prove loan transaction as she would have been in civil trial recovery? Court explains
Dwarka Courts, New Delhi: Medha Arya, MM (NI Act-03), resolved the dispute pertaining to Section 138 of Negotiable Instruments Act, 1881 in
Law on S. 138 NI Act | Cheque dishonored, case filed under S. 138 NI Act: Can borrower raise defense that lender had no financial capacity to lend money? Complete report on ruling by Tis-Hazari Courts
Tis Hazari Courts, New Delhi: Devanshu Sajlan, MM NI Act-05, while noting the ingredients of Section 138 of the Negotiable Instruments Act,
Self-Acquired Property of father on mortgage, can sons interfere with father’s right to dispose and deal with property? Sikkim HC explains
Sikkim High Court: If a father keeps his self-acquired property for the purpose of mortgage, can his sons interfere in the same?
RBI issues Master Directions- RBI (Transfer of Loan Exposures) Directions, 2021
On September 24, 2021, the Reserve Bank of India (RBI) has issued the Reserve Bank of India (Transfer of Loan Exposures) Directions,
If Banks have to survive, borrowers must exist and not mere borrowers but productive borrowers: Del HC on whether borrowers have protection against arbitrary disposal of properties mortgaged to banks at low prices? [In-depth Report]
Delhi High Court: Asha Menon, J., expressed that, The Banks seek collaterals and security to prevent losses to themselves. It is, but
While seeking a refund of amount from builder, will he be liable to pay amount paid as EMIs towards loan sanctioned? Read detailed report on DSCDRC’s decision
Delhi State Consumer Disputes Redressal Commission (DSCDRC): Coram of Dr Justice Sangita Dhingra Sehgal (President) and Anil Srivastava (Member)ordered the builder to
When can decree on admission be passed? Madras HC explains how general admission of facts v. admission of claim, makes difference
Madras High Court: Dr G. Jayachandran, J., refused to pass a decree in favour of the plaintiff who relied on general admission
COVID-19 Second Wave | Financial relief a policy matter; Similar order already passed: SC refuse to entertain plea seeking loan moratorium extension
Supreme Court: The bench of Ashok Bhushan and MR Shah, JJ has refused to pass any direction in the petition seeking effective
Loan Moratorium Case| Supreme Court says no to total waiver of interest and extension of moratorium period but directs full waiver of compound interest
There was no justification shown by the Government to restrict the relief of not charging interest on interest with respect to the loans up to Rs. 2 crores only and that too restricted to only 8 categories.
CBI | Otherwise difficult to get for ‘real’, procured for ‘imaginary’ house: ‘Builder’, ‘bogus allottees’ and ‘sanctioners’ in trouble for loan | Issues summons
Special Court, CBI, Ghaziabad: The Court of Shivank Singh, Special Judicial Magistrate (CBI), issued summons against the builder for the alleged unapproved imaginary
Madras HC | If wife issues a cheque to discharge husband’s liability and it gets dishonoured, can the wife be prosecuted under S. 138 NI Act? HC answers
Madras High Court: P.N. Prakash, J., decided a criminal original petition addressing an issue with regard to an offence under Section 138
Ker HC | Even if the Bank is a public sector bank, writ petition under Art. 226 is not maintainable if act in question is not one involving any element of public duty
Kerala High Court: P.V. Asha, J. allowed the writ petition questioning status of IDBI Bank as “State” under Article 12 of the
Ker HC | [SARFAESI Act] Whether the State has better right in comparison to Banks and other Financial Institutions over secured assets for recovery of its dues; legal position reiterated
Kerala High Court: A.M. Badar J., allowing the present petition, quashes the attachment made by the State authorities to recover tax dues.
COVID-19| Seeking waiver of interest on interest for loan during the moratorium period? SC asks Govt to implement decision to forego compound interest on these 8 categories
Supreme Court: In a breather to customers in the case relating to waiver of interest on loan during the moratorium period, the