Banking Law -- Letter of Credit - It is strict liability of appellant/Bank which is opener of Letter of Credit to make payment strictly as obligated by terms of Letter of Credit and assure that consignment which is subject matter, is not usurped by importer, without making payment to consignor`s bank...........
Indian Penal Code, 1860, Section 409, 403, 477A, 107, 120B, Prevention of Corruption Act, 1988, Section 13(1)(d), 13(2) -- Criminal Breach of trust - Misappropriation of funds of bank - Plea of clerical mistake - Accused No.1 being a public servant misappropriated the funds of bank by manipulating accounts to facilitate unlawful gains to accused No.3 - Accused No.1 has..........
Negotiable Instruments Act, 1881, Section 138, Banking, Public Financial Institutions and Negotiable Instruments Laws (Amendment) Act, 1988, Section 4, Criminal Procedure Code, 1973, Section 357(3) -- Dishonour of cheque - Economic offences - Appeal against acquittal - Respondent/accused is young person on whom his family is dependent for livelihood - There are no criminal..........
Contract Act, 1872, Section 171, 174 -- Gold ornaments offered as security while availing loan - Bank can retain the same even after loan is cleared on the ground that borrower has not discharged his liability of another loan - Bank has a general lien over all forms of security including gold ornaments deposited by or on behalf of borrower in the ordinary course of banking..........
Contract Act, 1872, Section 176 -- Banking Regulation Act, 1949, S.8 & Schedule III - Loan on security of gold ornaments - Default in repayment of loan - Sale of gold ornaments is part of banking business - Bank sells the goods not as agents of borrower but as pledgees...........
Criminal Procedure Code, 1973, Section 482 -- Banking fraud - Quashing of criminal proceedings - Held, even if accused voluntarily at a later stage settles monetary claim that cannot be made a ground to quash criminal proceedings unless well established principles for exercise of power u/s 482 CrPC are made out...........
Criminal Procedure Code, 1973, Section 482 -- Banking fraud - Quashing of criminal proceedings - Allegations if accepted in entirety are most likely to make out criminal offence alleged against accused - Held, proceedings cannot be termed as an abuse of process of Court and hence cannot be quashed...........
East Punjab Urban Rent Restriction Act, 1949, Section 13 -- Eviction - Bona fide necessity - Landlord has retired from service in Bank and wants to start his own banking consultancy - His son is also a chartered accountant and needs demised property for his profession - Even tenant while appearing in witness box admitted that landlord has no other premises for his..........
Banking service -- Loan account - Pre-closure charges - Neither the appellant-OP placed on record the Head Office guidelines in regard to pre-payment charges/commitment charges in relation to loan account nor there was any evidence on the file that the said guidelines were brought to the notice of the respondents/complainants and they agreed to the same at the time of..........
Delhi Rent Control Act, 1955, Section 14(1)(b), Banking Regulation Act, 1949, Section 45(7) -..........
