The Bombay High Court dismissed Anil Ambani’s plea challenging SBI’s decision to classify his loan account as fraudulent. The Court upheld SBI’s action, confirming it followed RBI guidelines.
Bombay: The Bombay High Court asked the Reserve Bank of India (RBI) whether it plans to take action against banks that repeatedly classify a person’s loan account as fraudulent without first giving them a chance to explain their side. The court’s direction came while hearing a petition filed by industrialist Anil Ambani, whose loan account with Canara Bank was declared fraudulent without any hearing.
The Supreme Court observed Today (Sept 11) that it was an important issue and posted the matter for hearing on September 18. The Court was hearing a batch of appeals against several decisions of the National Consumer Disputes Redressal Commission (NCDRC), all of which raised a common question of law.
Today, On 28th August,, the Supreme Court intervened to assist PSU employees facing potential termination due to changes in their reserved category status. The Court ruled against the termination notices issued by the banks and undertakings, ensuring protection for employees affected by caste reclassification in Karnataka. This decision sets aside a previous judgment by the Karnataka High Court.
![[Money Laundering Case] Naresh Goyal's Interim Bail Extended by 2 Months](https://i0.wp.com/lawchakra.in/wp-content/uploads/2024/04/image-20-3.png?resize=447%2C367&ssl=1)
Today, On 31st July, The Bombay High Court extended Naresh Goyal’s interim bail in the ED case for two more months due to his health issues. Goyal, facing allegations of financial misconduct related to Jet Airways, was initially granted bail in May. His wife, Anita, who was also implicated, was granted bail due to her age and health. Tragically, Anita passed away in May.
Jet Airways founder, Naresh Goyal, has been placed under a 14-day judicial custody in relation to an alleged fraud of Rs 538 crore involving Canara Bank. This development follows Goyal’s arrest by the Enforcement Directorate (ED) on September 1. As per the reports, the ED arrested him “under the Prevention of Money Laundering Act (PMLA) […]