The Delhi High Court questioned why Union Bank issued a fraud-related show cause notice to Jai Anmol Ambani after Reliance Home Finance’s resolution plan was already approved by lenders and the Supreme Court. While refusing to stay the proceedings, the Court directed the Bank to hear Ambani and pass a reasoned order, subject to the High Court’s final decision.
MUMBAI: Today, 28th Feb,The Bombay High Court expressed serious concerns over how banks declare loan accounts as ‘fraud’ or ‘defaulter’ without properly applying their minds. The court highlighted that banks often pass such orders in a “cut, copy, paste manner” without following due procedures. The court suggested that the Reserve Bank of India (RBI) must step in and take action to ensure such lapses do not continue.
The Supreme Court on Tuesday (10th Dec) dismissed the CBI’s plea against medical bail granted to Dheeraj Wadhawan, former DHFL promoter, citing health issues. The trial is expected to last over a decade due to the case’s complexity. The court imposed strict bail conditions while revoking the Wadhawan brothers’ statutory bail, reinforcing procedural errors by earlier courts.
![[Valmiki Corporation Scam] Karnataka HC Rejects State's Claim of Centre-State Dispute in Union Bank's CBI Probe Plea](https://i0.wp.com/lawchakra.in/wp-content/uploads/2024/09/image-409.png?resize=447%2C367&ssl=1)
Today(24th Sept), The State of Karnataka opposed the Union Bank of India’s petition in the Karnataka High Court for a CBI probe into the alleged multi-crore Maharishi Valmiki Corporation scam, arguing it was a dispute between the State and the Centre. Senior Counsel BV Acharya cited a Supreme Court judgment to support this claim, but Justice M Nagaprasanna stated he would hear the matter on both maintainability and merits, disagreeing with the State’s position.
Today(on 23rd July), The Karnataka High Court issued a notice to the State government on a petition by Union Bank of India for a CBI probe into alleged fund misappropriation by the Karnataka Maharshi Valmiki Scheduled Tribes Development Corporation. This follows allegations of Rs. 90 crore being transferred from the Corporation’s account. The next hearing is scheduled for August 7.
Dheeraj Wadhawan, former director of DHFL, detained for a fraud of over Rs 34,000 crore. He remanded to judicial custody following his arrest by the CBI. Wadhawan’s bail plea based on medical grounds rejected, and he has to remain in custody until May 30. The fraud involves a consortium of 17 banks and accusations of money laundering.
