The Bombay High Court has stayed all coercive action by Bank of Baroda, IDBI Bank and Indian Overseas Bank against Anil Ambani. The Court held that the forensic audit relied upon was not signed by a qualified chartered accountant and cannot be the basis for fraud action.
The Delhi High Court ruled that banks failed to prove intentional misuse of borrowed funds by Ratul Puri and Nita Puri, striking down their wilful defaulter status. This decision highlights the need for solid evidence before labeling borrowers, protecting them from serious financial and reputational damage.
The Delhi High Court has affirmed citizens’ right to travel abroad, cautioning against automatically issuing lookout circulars for bank loan defaults or credit mismanagement. This ruling came in response to a case involving Shalini Khanna, where the court emphasized the need for tangible threats to the country’s interests to justify such measures.
High-Profile Corruption Cases in Forest and Health Departments In a significant development in the fight against corruption in Delhi, Lieutenant Governor Vinai Kumar Saxena has sanctioned two separate investigations, targeting corruption in the Forest Department and the Health Department. This move underscores the administration’s commitment to upholding integrity and transparency in government operations. Also read-Bar […]
