Banks playing both judge, executioner: Bombay HC on LOCs | Mumbai News
MUMBAI: Public sector banks had become judge and executioner at once in having look out circulars or LOCs issued against defaulters, said Bombay high .
Source: indiatimes.com
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Banks playing both judge, executioner: Bombay HC on LOCs | India News
India News: MUMBAI: Public sector banks had become judge and executioner at once in having look out circulars or LOCs issued against defaulters, said Bombay high .
Source: indiatimes.com
Right to travel abroad is guaranteed under Article 21: Delhi HC | Mumbai News
Bombay High Court rules Centre's power for lookout circulars from public sector banks unconstitutional. Banks can't use LOCs for debt recovery. Bureau
Source: indiatimes.com
Look Out Circulars: PSU lenders do not have the power to issue Look Out Circulars: Bombay HC
The Bombay High Court declared public sector lenders ineligible to issue Look Out Circulars (LOCs) under Central government office memoranda. While deeming this practice as 'arbitrary', the court upheld the constitutionality of the Central government's office memoranda. The ruling nullified all LOCs issued by public sector banks.
Source: indiatimes.com
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.
Source: indiatimes.com