Cooperative bank Archives

Case Briefs Tribunals/Commissions/Regulatory Bodies

No Financial Creditor status with invalid Debt Assignment: NCLAT sets aside initiation of CIRP under Section 7 IBC

“For maintaining an application for default of another Financial Creditor, the essential ingredients to be fulfilled by the Applicant is that the Applicant has to be a Financial Creditor on its own facts.”

Case Briefs High Courts

‘Returning money does not end the crime’; Bombay HC denies anticipatory bail to bank employee accused of siphoning Rs. 46.58 Lakhs

The bank in question was a co-operative bank located at a remote Taluka in Maharashtra. The customers were small shop keepers and local villagers who had very meagre income. The accused took advantage of such situation and siphoned their money.