loan

Case BriefsSupreme Court

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.

Case BriefsTribunals/Commissions/Regulatory Bodies

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

Case BriefsHigh Courts

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

Case BriefsHigh Courts

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

Case BriefsHigh Courts

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.

Case BriefsSupreme Court

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

Case BriefsHigh Courts

Jhar HC | Loan by financial institutions is in the nature of ‘public money’; Writ Petition not maintainable as alternative remedy available under S. 17 of SARFAESI Act if aggrieved due to action taken by ‘State’ under S. 13/14 of the Act

Jharkhand High Court: Rajesh Shankar, J. dismissed the petition on grounds of non-maintainability. The facts of the case are such that the

Case BriefsHigh Courts

Bom HC | If a banker refuses to grant loan on an already outstanding amount, would the said act amount to instigation under S. 107 of IPC? HC pronounces a reasoned order

Bombay High Court: A Division Bench of V.M. Deshpande and Anil S. Kilor, JJ., held that if the prosecution fails prima facie to

Case BriefsForeign Courts

UK SC | Bank held liable for the breach of Quincecare duty of care towards its customer company – first successful claim for such a breach

Supreme Court of the United Kingdom: A Full Bench of Lady Hale (President), Lord Reed (Deputy President), Lord Lloyd Jones, Lord Sales,

Case BriefsHigh Courts

Raj HC | Writ Petition not maintainable against S. 14 of SARFAESI Act as alternative remedies for the same can be availed

Rajasthan High Court: Ashok Kumar Gaur, J. was hearing a petition on the issue pertaining to taking possession of the mortgaged property

Case BriefsHigh Courts

Del HC | Complaint under S. 138 NI Act dismissed for non-prosecution restored considering that clerk of complainant’s counsel noted wrong date

Delhi High Court: Mukta Gupta, J. allowed a petition filed against the order of the trial Judge whereby the petitioner’s complaint filed for

Case BriefsHigh Courts

Del HC | Conviction for S. 138 NI Act offence reversed where complainant incapable of extending the subject loan

Delhi High Court: Sanjeev Sachdeva, J., dismissed a petition assailing the Appellate Court’s order whereby it had set aside the judgment of conviction

Case BriefsTribunals/Commissions/Regulatory Bodies

NCDRC | No liability on bank in the absence of any evidence showing deposition of educational certificates for taking a loan

National Consumer Disputes Redressal Commission (NCDRC): Justice V.K. Jain (Presiding Member) set aside the order of District Forum and State Commission and

Case BriefsHigh Courts

Kar HC | Writ court cannot interfere with decision of Returning Officer of cooperative society as equally efficacious statutory remedy available

Karnataka High Court: The Single Judge Bench of S. Sujatha, J. dismissed a petition challenging the decision of  Returning Officer of Kadaragundi

Case BriefsHigh Courts

Del HC | No reason to stay proceedings under S. 138 NI Act where trial in another FIR involving the parties is pending

Delhi High Court: R.K. Gauba, J. allowed a petition filed against the order of Sessions Court whereby proceedings in a case filed

Case BriefsHigh Courts

Madras HC | Case under S. 138 NI Act is maintainable against person who issues cheque even if loan is secured by Trust

Madras High Court: The Bench of M. Nimal Kumar, J. refused to quash proceedings pending on the file of Judicial Magistrate (III), Coimbatore.

Case BriefsHigh Courts

Jurisdictionally bereft from hearing matter under SARFAESI Act on merits, Kerala HC allows defaulter to repay bank in installments

Kerala High Court: A Single Judge Bench comprising of Devan Ramachandran, J. was seized of a civil writ petition filed by a

Case BriefsHigh Courts

Application under Or 6 R 17 CPC cannot be allowed to convert title of suit filed by an individual to one by private limited company

Delhi High Court: A Single Judge Bench comprising of Anu Malhotra, J. dismissed a petition filed against the order of the trial

Case BriefsTribunals/Commissions/Regulatory Bodies

Mere assurance of loan by Manager is not a ground to challenge actual loan sanctioned

National Consumer Disputes Resolution Commission (NCDRC): The appellant applied to the respondent bank for a loan of Rs 9,00,000, but only a