Content Provider | Supreme Court of India |
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e-ISSN | 30484839 |
Language | English |
Access Restriction | NDLI |
Subject Keyword | Indian Bank - Scam pertaining to FDs of Co-operative Societies/Cooperative Banks |
Content Type | Text |
Resource Type | Law Judgement |
Jurisdiction | India |
Case Type | Appeal |
Court | Supreme Court of India |
Disposal Nature | Appeal Allowed |
Headnote | BANKS/BANKING:Indian Bank - Scam pertaining to FDs of Co-operative Societies/Cooperative Banks - Directions given by Supreme Court in its judgment dated 16.5.2008 - Clarification of - HELD: Direction contained in Para 20 of the judgment to the extent that 'the bank with the assistance of Officer of the Central Bureau of Investigation should make all attempts to ascertain as to which of the cooperative societies and cooperative banks are in no way involved in the scam', shall not apply to the cases of Indian Bank - Indian Bank, however, in the interest of cooperative societies whose FDRs are lying in deposits and who have availed the loan facilities, shall on its own identify and ascertain the societies that are not involved in any CBI investigation/case and on such ascertainment and verification, the cooperative societies-depositors shall be informed regarding the maturity of their FDRs - If the maturity amounts of the FDRs are adjusted against the loan amount advanced to the cooperative societies and if there exists any dispute between the depositor-societies and Indian Bank about the recovery or payment of the money, the aggrieved party can get its claim adjudicated through appropriate proceedings before the appropriate forum as permissible under law- If there is no dispute in regard to the payment of amount of matured FDRs, Indian Bank shall not debar or preclude the innocent cooperative societies-depositors from taking loan against FDRs being deposited with the Bank - It is made clear that the judgment dated 16. 05. 2008 shall stand clarified to the extent it pertains to the cases of Indian Bank- This clarification will however, not dilute or affect other directions issued in the final judgment. |
Judge | Hon'ble Mr. Justice Lokeshwar Singh Panta Hon'ble Mr. Justice S.B. Sinha |
Neutral Citation | 2009 INSC 394 |
Petitioner | Indian Banks |
Respondent | Godhara Nagrik Coop Credit Society Ltd. & Anr. Etc. Etc. |
SCR | [2009] 4 S.C.R. 1036 |
Judgement Date | 2009-03-24 |
Case Number | 3303 |
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