loan Archives | SCC Times

Calcutta High Court finds no illegality or material irregularity in DRAT’s order; reiterates High Court’s jurisdictional limits under Article 227

Calcutta High Court reasoned that the High Court’s jurisdiction under Article 227 is not appellate in nature and cannot be exercised to correct mere errors of fact.

Case Briefs High Courts

Fundamental right to travel abroad cannot be curtailed only because of default in loan payment: Delhi High Court

“Office Memorandum issued by Ministry of Home Affairs permits Banks to issue a request for opening a Look Out Circular, in exceptional cases, even if they are not covered by its guidelines, even in such cases, the same can be issued only if departure of such person is detrimental to sovereignty/security of India.”

Case Briefs High Courts

Whether insisting the deceased to repay the loan borrowed and telling him to die amounts to abetment to suicide? Karnataka HC answers

In the case of suicide, mere allegation of harassment of the deceased by another person would not suffice unless there be such an action on the part of the accused which compels the person to commit suicide.

Case Briefs High Courts

Banks, Financial Institutions using recovery agents to forcibly seize vehicles over non-payment of loan is illegal: Patna High Court

The right to recovery of the Banks and Financial Institutions if pitted against the constitutional right of life of a person to live with dignity and not to be deprived of without following the established procedure of law, the constitutional rights of the person shall prevail.

Case Briefs High Courts

Madras High Court | Section 138 NI Act: Bribe for securing job cannot be held as a loan or money transaction

The accused not only cheated the complainant and committed an offence under Sections 420 IPC, but also, as a public servant, he obtained other than the legal remuneration and committed offence.

Case Briefs High Courts

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

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

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 District Court

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

Case Briefs High Courts

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

Case Briefs District Court

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

Case Briefs District Court

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,

Case Briefs High Courts

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?

Legislation Updates Notifications

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,

Case Briefs High Courts

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

Case Briefs Tribunals/Commissions/Regulatory Bodies

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

Case Briefs High Courts

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

Case Briefs Supreme Court

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

Case Briefs Supreme 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 Briefs Tribunals/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