Judgements by High Court & Supreme Court Of India on Banking

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Banking

Arbitration – Termination of License Agreement of SBI Card for its Mobile App – Transition period of 12 months – Interim protection to prevent interruption of services

GST – Major Relief to Holding Companies – Interim Stay of PH High Court to GST on Corporate Guarantees

Section 138 of NI Act – Cheque of Foreign Bank payable in UAE currency – Transaction in UAE – Cheque presented in the ICICI Bank in India, dis-honoured and complaint filed in Court in India –

Novation of Contract – Liablity of guarantors to repay loan – Temporary overdraft – Extension of time to repay without consent of the guarantors – Section 133 of the Contract Act.

Insurance Policy – Renewal – Dishonour of cheque by the Bank although sufficient balance in the account but for non-linking MOD with account – Deficiency in Service –

SARFAESI Act & MVAT Act – Ranking of priority and first charge on secured – Conflict of Section 37 of MVAT Act with Section 26E of SARFAESI Act.

Advocate – Bank Panel of Advocates – Due Diligence of Title Reports – – Subsequently the title deeds were found fake – Negligence in discharge of professional duties –

Delhi High Court on interpretation of clause“AS IS WHERE IS” often employed in the Auction Notice and interplay of “Caveat Venditor” vis-a-vis “Caveat Emptor”, SARFAESI Act and directions to refund auction amount –

Passport – Debtors Recovery Tribunal directions for surrender of guarantor’s passport in recovery proceedings – Illegal

IRDAI Circular of 21.11.2023 – Clarification of “without delay” for sanctions to Terrorism, Terror Financing & Proliferation Financing means “preferably on the same business day but not later than 24 hours in any case” for Section 12A of WMD Act, 2005 and UAPA 1967.