Axis Bank itself conceded that awards by unilaterally appointed sole arbitrators are void. The Delhi High Court has now declared an award against a borrower unenforceable, noting that one bank-appointed arbitrator had handled 4,155 arbitrations over four to five years, and has asked the RBI to caution all banks on unilateral appointments. New Delhi: Declaring […]
A police notice asked the bank to hold Rs 2,253. The bank froze everything. Axis Bank must now unfreeze entire account of a small businessman, the Calcutta High Court has directed, calling the freeze unjustified. Kolkata: Ordering Axis Bank to immediately unfreeze the entire account of a small retail businessman, the Calcutta High Court has […]
NEW DELHI: On Monday, The Supreme Court of India has warned that its decision on the Delhi Metro Rail Corporation (DMRC) and Delhi Airport Metro Express Private Limited (DAMEPL) dispute must be followed strictly. The court stated that if the ruling is not obeyed, it will take strict action against the officials of the private company and Axis Bank.
On Wednesday, Axis Bank presented its opposition before the Delhi High Court regarding BJP leader Subramanian Swamy’s public interest litigation (PIL), which seeks an investigation into an alleged fraud committed by the bank in order to gain “undue profits” through the sale and purchase of shares in Max Life Insurance. The Delhi High Court Today […]
Dr. Subramanian Swamy has approached the Delhi High Court, alleging Rs 5,100 crore financial irregularity in the Axis Bank-Max Life deal. The case highlights breach of IRDAI directives and disparity in enforcement actions. The petition raises concerns about financial regulations and investor interests in India. The hearing has been postponed to March 13.