bank Archives | SCC Times

Delhi High Court denies regularisation request of a messenger boy of a Bank for not being appointed through a regular process

The Delhi High Court upheld the order of the Labour Court wherein it was held that since the messenger boy of a Bank was unable to establish that he moved an application for absorption in the service in pursuance of the Bipartite Settlement, therefore, he was not entitled to regularisation of service. Further, the Dehi High Court held that regularisation was not a matter of right and therefore, this Court could not direct the respondent Bank to regularize the services of the messenger boy.

Case Briefs High Courts

Signboard of Bank of Baroda falling on the head of a passerby resulting in his death is negligence by the bank; Delhi High Court directs compensation to the deceased

A signboard coming off the façade of the building was a foreseeable event given the fact that Delhi experiences high-velocity winds, in May, each year.

Legislation Updates Rules & Regulations

Rate of Family Pension revised vide SIDBI Pension (Amendment) Regulations, 2022

The Board of Directors of the Small Industries Development Bank of India has notified the Small Industries Development Bank of

Case Briefs High Courts

Jharkhand High Court | Liability cannot be fastened upon the company for delay in TDS when it had taken steps within time but the same was not credited in the account of the Central Government

Jharkhand High Court: Sanjay Kumar Dwivedi, J. allowed a criminal miscellaneous petition quashing the entire criminal proceeding including the order

Case Briefs High Courts

Rajasthan High Court |Alleged illegal termination from Kotak Mahindra Bank pending for relief due to vacancy of competent authority; State appoints Deputy Labour Commissioner

Rajasthan High Court: In a case of an illegal termination of a Manager of Kotak Mahindra Bank being pending for

Case Briefs Tribunals/Commissions/Regulatory Bodies

Whether a typographical error in mentioning a bank account number can have adverse impact on income tax assessment? ITAT deliberates

Income Tax Appellate Tribunal (ITAT), Visakhapatnam: While deciding the instant appeal by the Revenue against the Order by CIT (A) deleting the

Legislation Updates Rules & Regulations

SIDBI modifies 10% contribution to a fixed percentage which will be decided by the Bank vide SIDBI (Defined Contributory New Pension) [Amendment] Regulations, 2022

On 21-06-2022, the Small Industries Development Bank of India notified Small Industries Development Bank of India (Defined Contributory New Pension) [Amendment] Regulations,

Case Briefs High Courts

Right to get reimbursement for foreign travel under LTC scheme is not an absolute right; Madras High Court upheld withdrawal of the scheme for SBI officers

Madras High Court: S M Subramaniam, J. upheld the decision taken by Indian Banks Association to unilaterally withdraw the facility for State

Case Briefs High Courts

Calcutta High Court| Order XLI, Rule 5(1) of the CPC grants the court discretion to stay the execution of a decree for ‘sufficient cause’; Award by arbitral tribunal upheld

Calcutta High Court: Shekhar B. Saraf, J. upheld the award granted by the Arbitral Tribunal holding that the award holder

Legislation Updates Notifications

SEBI issues circular for naming / tagging of demat accounts by June 30, 2022

On June 20, 2022, the Securities and Exchange Board of India has issued a circular requiring all stock brokers to name and

Case Briefs Tribunals/Commissions/Regulatory Bodies

Whether the credit availed by bank on service tax paid for insuring deposits, eligible for CENVAT Credit or not? CESTAT answers

Customs, Excise and Services Tax Appellate Tribunal (CESTAT): The coram of Sulekha Beevi C.S. (Judicial Member) and P. Anjani Kumar (Technical Member)

Case Briefs High Courts

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

National Consumer Disputes Redressal Commission

Case Briefs Tribunals/Commissions/Regulatory Bodies

Due to burglary, customers lost their valuable articles from bank lockers. Will Bank be liable for deficiency in service? NCDRC answers

National Consumer Disputes Redressal Commission (NCDRC): The Coram of Justice R.K. Agarwal (President) and Dr S.M. Kantikar (Member) expressed that, customer avails

Case Briefs High Courts

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

Case Briefs Supreme Court

Whether confiscation by Custom & Excise Authority forfeits the claim of Secured Creditor over such property? Whether the dues of Excise department create a First Charge? SC answers

Supreme Court: The Division Bench of L. Nageswara Rao and Vineet Saran*, JJ., quashed the confiscation order of Customs and Central Excise

Case Briefs Supreme Court

Borrower’s offer to pay Rs.71 lakhs as a purchaser of mortgaged property will not discharge him from entire outstanding liability of approx 1.8 crores: SC

Supreme Court: The Division Bench of M. R. Shah* and Sanjiv Khanna, JJ., held that the entire liability outstanding against the borrower

Case Briefs Supreme Court

Explained| Can post office/bank be held liable for the fraud or wrongs committed by its employees?

Supreme Court: The 3-judge bench of L. Nageswara Rao, Sanjiv Khanna* and BR Gavai, JJ has held that the post office/bank can

Case Briefs Supreme Court

Bank Employees misappropriate funds. Confession by one leads to mild penalty; No evidence against another leads to dismissal! SC directs reinstatement

Supreme Court: In a case where a bank employee was dismissed from services despite lack of evidence, the bench of KM Joseph

Case Briefs Supreme Court

“No case for interference either on law or on moral grounds”; SC sets aside HC order for applying test of criminal proceedings to departmental proceedings

Supreme Court: Addressing a case of dismissal of a Bank clerk for breaching the trust of a widowed sister-in-law as well as

Case Briefs Supreme Court

Cheque gets deposited to the account of account holder with strikingly similar name. Bank blames customer. Read why SC was “surprised” at NCDRC’s ruling

Supreme Court: In an interesting case where one SBI account holder was left with a balance of Rs. 59/- only in his