Supreme Court quashes criminal proceedings against DBS Bank in Religare Finvest case LEGAL ISSUE: Whether a transferee bank can be held criminally liable for the actions of the transferor bank after a non-voluntary amalgamation. CASE TYPE: Criminal. Case Name: Religare Finvest Limited vs. State of NCT of Delhi & Anr. [Judgment Date]: 11 September 2023 […]
Supreme Court Mandates Hearing for Borrowers Before Fraud Classification Date of the Judgment: 27 March 2023 Citation: Civil Appeal No. 7300 of 2022 Judges: Dr Dhananjaya Y Chandrachud, CJI, Hima Kohli, J Can a bank declare a borrower’s account as fraudulent without giving them a chance to be heard? The Supreme Court of India recently
Supreme Court allows Banks’ challenge to RBI’s disclosure of information under RTI Act: HDFC Bank Ltd. vs. Union of India (2022) Date of the Judgment: 30 September 2022 Citation: 2022 INSC 838 Judges: B.R. Gavai, J., C.T. Ravikumar, J. Can a previous judgment of the Supreme Court be challenged through a writ petition? The Supreme
Supreme Court Upholds RBI’s Authority in Bond Dispute: SIDBI vs. Sibco Investment (2022) LEGAL ISSUE: Whether the Reserve Bank of India (RBI) directives regarding the transfer of bonds are binding on financial institutions. CASE TYPE: Civil Appellate Jurisdiction, Banking Law. Case Name: Small Industries Development Bank of India vs. M/s. Sibco Investment Pvt. Ltd. Judgment
Supreme Court Upholds RBI’s Authority in Bond Dispute: SIDBI vs. Sibco Investment (2022) Read Post »
Supreme Court on Interest During Moratorium: Small Scale Industrial Manufactures Association vs. Union of India (2021) Date of the Judgment: 23 March 2021 Citation: Small Scale Industrial Manufactures Association (Regd.) vs. Union of India and others (2021) INSC 158 Judges: Ashok Bhushan, J., R. Subhash Reddy, J., M.R. Shah, J. Can banks charge interest on
Supreme Court clarifies bank’s duty of care for locker management: Amitabha Dasgupta vs. United Bank of India (2021) Date of the Judgment: 19 February 2021 Citation: (2021) INSC 79 Judges: Justice Mohan M. Shantanagoudar, Justice Vineet Saran Can a bank be held responsible for the loss of valuables from a locker, even if they claim
Supreme Court Clarifies Deduction for Cooperative Societies Providing Credit Facilities: Mavilayi Service Cooperative Bank Ltd. vs. Commissioner of Income Tax (2021) LEGAL ISSUE: Whether cooperative societies registered as primary agricultural credit societies are eligible for tax deductions under Section 80P(2)(a)(i) of the Income-Tax Act, 1961, if they provide credit facilities to members, regardless of whether
Date of the Judgment: 4 March 2020 Citation: (2020) INSC 248 Judges: Rohinton Fali Nariman, Aniruddha Bose, V. Ramasubramanian Can a central bank impose a blanket ban on cryptocurrency trading? The Supreme Court of India recently addressed this crucial question in a landmark judgment. The court struck down the Reserve Bank of India’s (RBI) ban
Supreme Court Upholds Reinstatement: Simple Hurt Not Moral Turpitude in SBI Employee Case (26 April 2019) LEGAL ISSUE: Whether a conviction for simple hurt under Section 324 of the Indian Penal Code constitutes an offense involving moral turpitude, warranting dismissal from service. CASE TYPE: Service Law Case Name: The State Bank of India & Others.
Supreme Court Quashes RBI Circular on Stressed Assets: Dharani Sugars and Chemicals Ltd. vs. Union of India (2019) LEGAL ISSUE: The core legal issue revolved around the validity of the Reserve Bank of India (RBI) circular dated 12.02.2018, which prescribed a revised framework for the resolution of stressed assets, particularly concerning the timelines for referring
Supreme Court Clarifies Res Judicata Exceptions in Banking Dispute: Canara Bank vs. N.G. Subbaraya Setty (2018) LEGAL ISSUE: Whether a prior judgment upholding a contract that violates statutory prohibitions operates as res judicata in subsequent proceedings. CASE TYPE: Banking Law, Contract Law, Civil Procedure. Case Name: Canara Bank vs. N.G. Subbaraya Setty & Anr. [Judgment
Supreme Court Upholds Section 21A of Banking Regulation Act, but Carves Out Exception for State Debt Relief Acts in Agricultural Indebtedness Cases (2018) LEGAL ISSUE: The constitutional validity of Section 21A of the Banking Regulation Act, 1949, which restricts courts from reviewing interest rates charged by banks. CASE TYPE: Constitutional Law, Banking Law, Debt Relief
