Banking service -- Compulsory retirement - Respondent a Senior Manager connived with co-delinquents (one officer and a gunman) to misappropriate money of customers for their personal gain, stealing bank records, etc. - Role of respondent not only necessitated personal obedience but also supervision of actions of subordinates - Co-delinquents having limited powers and..........
Negotiable Instruments Act, 1881, Section 138 -- Dishonour of cheque - Central Service Co-operative Bank - Plea that Co-operative Bank does not fall within definition of `Banker' u/s 3 of the Act as it is not licensed by Reserve Bank of India - Supreme Court has emphatically held that essence of "banking" lies in the acceptance of deposits from the public repayable on..........
Negotiable Instruments Act, 1881, Section 138 -- Dishonour of cheque - Withdrawal slip drawn on a co-operative Bank - Plea that instrument in question cannot be treated as a cheque is devoid of any merit - Substance of transaction, and not its form or nomenclature, is determinative - If the instrument operates as a mandate for payment drawn on an account maintained with an..........
Consumer Protection Act, 1986, Section 2(1)(d)(ii) -- Consumer - Transaction out of which complaint arises is regarding a deposit made by appellant with Bank - There is no dispute that such deposit was made and Bank had agreed to pay interest - Thus, to that extent bank is service provider and appellant a service recipient qua Bank's contractual obligation to pay interest..........
Consumer Protection Act, 1986, Section 2(1)(d)Explanation -- Consumer complaint - Commercial purpose - Banking service - Merely because a fixed deposit receipt earns interest does not mean that banking service availed is for a commercial purpose - However, if deposit is made to leverage credit facilities for augmenting business, it would have a direct nexus with revenue..........
Consumer Protection Act, 1986, Section 2(1)(d)Explanation -- Consumer complaint - Maintainability - Banking service - Complaint allegations is that Bank had acknowledged FDR and had accounted for interest payable thereon but instead of releasing maturity proceeds in favour of appellant, it had set up a subsequent contract of pledge of that FDR for according overdraft..........
Civil Procedure Code, 1908, Order 21, Rule 43 -- Execution - Attachment of bank account - Bank account of Judgment Debtor cannot be attached anywhere by way of digital banking - First of all it is to be seen that where the property of JD is situated...........
Negotiable Instruments Act, 1881, Section 138 -- Dishonour of cheque - Plea that interest claimed by complainant was excessive and in violation of Kerala Money Lenders Act and therefore it was an illegal transaction and for that reason, cheque cannot be treated as a cheque issued in discharge of a legally enforceable debt etc. - Plea rejected, as non banking financial..........
Service -- Banking service - Disciplinary proceedings - Quashing of charge sheet - Charge sheet was served on appellant without seeking advice of Central Vigilance Commission (CVC) - Bank itself accepted the necessity of seeking first stage advice from CVC - It was thus, not open for Bank to serve charge sheet without receiving and considering first stage advice by CVC -..........
Banking service -- Removal from service with terminal benefits - An employee who is found guilty of gross misconduct may be removed from service but would be provided with superannuation benefits which would otherwise be due to him, as per Clause 6 of Bipartite Settlement - Further, penalty of removal from service would be without disqualification from future employment -..........
