Section 7 Insolvency and Bankruptcy Code

Banks not bound to accept OTS
Case BriefsHigh Courts

“Such decision should be left to the commercial wisdom of the Bank whose amount is involved,and it is always to be presumed that Bank shall take a prudent decision whether to grant the benefit under the OTS scheme, having regard to the public interest involved.”

Cheque dishonour
Case BriefsHigh Courts

“On the request of the petitioner, the complainant waited and represented the cheque through its banker, but once again it got dishonoured with the same remark – refer to drawer.”