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In setback for cocoa manufacturer, Bombay HC refuses to interfere with RBI circular on current accounts - Vimarsana News

In setback for cocoa manufacturer, Bombay HC refuses to interfere with RBI circular on current accounts

A division bench of Justices Gautam Patel and Neela Gokhale upheld HDFC Bank’s email that led to the freezing of current accounts held by cocoa manufacturer VJ Jindal Cocoa in various banks.

Bombay High Court Refuses To Interfere With RBI Circular Permitting Only One Active Current Account If Total Credit Facilities Availed Exceed ₹50 Crore - Vimarsana News

Bombay High Court Refuses To Interfere With RBI Circular Permitting Only One Active Current Account If Total Credit Facilities Availed Exceed ₹50 Crore

The Bombay High Court has upheld HDFC Bank’s email that led to the freezing of current accounts held by cocoa manufacturer VJ Jindal Cocoa in various banks observing that since its “exposure” was over...

Source: livelaw.in