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Public sector banks don t have power to issue Look Out Circulars against defaulters: HC

Bombay HC rules public banks can t issue LOCs against defaulters. Verdict quashes all circulars. Centre s 2018 amendment allowed banks to issue LOCs in economic interest of India , but HC deems it unconstitutional.

Gautam patelMadhav jamdarAditya thakkerBureau of immigrationBombay high court onLook out circularsBombay high courtJustices gautam patelPublic sector banksHc mumbai

Public sector banks don t have power to issue Look Out Circulars against defaulters HC

(This story has not been edited by THE WEEK and is auto-generated from a PTI

Aditya thakkerMadhav jamdarGautam patelBureau of immigrationBombay high court onBombay high courtLook out circularsJustices gautam patel

Public Sector Banks Do Not Have Power In Law To Issue LOCs Against Default Borrower: Bombay HC

Public Sector Banks Do Not Have Power In Law To Issue LOCs Against Default Borrower: Bombay HC
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Bombay HC quashes power of public sector banks to initiate LOCs against defaulters

Bombay HC declared Centre's power for bank officials to issue LOCs unconstitutional, quashing all such LOCs. Existing LOCs by DRT or courts remain val

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Bombay High Court Quarterly Digest: January To March, 2024

Nominal Index [Citation 1 – 175]Rohit Dembiwal v. Tata Consultancy Services Ltd. & Ors 2024 LiveLaw (Bom) 1Mirza Himayat Baig v. State of Maharashtra 2024 LiveLaw (Bom) 2M/s. Hindustan Level Employees.

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