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UPSC Key | 1st May, 2024 — Covishield, World Economic Outlook, Look Out Circular and more

UPSC Key | 1st May, 2024 — Covishield, World Economic Outlook, Look Out Circular and more
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Supreme Court seeks ED response on timing of Arvind Kejriwal s arrest

Supreme Court seeks ED response on timing of Arvind Kejriwal s arrest
indianexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indianexpress.com Daily Mail and Mail on Sunday newspapers.

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wilful borrowers: FinMin studying Bombay HC order restricting PSBs from seeking look out circulars against wilful defaulters

The Finance Ministry is reviewing the Bombay High Court order banning public sector banks from seeking look-out circulars (LOCs) against wilful defaulters. The court deemed the order arbitrary and violative of a person s fundamental rights. The finance ministry is aware of the judgement and will assess it. The court held that an office memorandum empowering public sector banks to seek LOCs against default borrowers or their guaranteeees was unconstitutional.

Justice gautam patelJustice madhav jamdarHigh courtHc agencies bombay high courtBombay high courtFinancial servicesCentral bureau investigationLook out circularsBombay highFinance ministryManaging directorsChief executive officersFinancial services secretarydk mittalBankruptcy codeBankruptcy boardWilful borrowers

Mumbai News: Justice Gautam Patel Retires, Gets Full Court Farewell Function

Mumbai News: Justice Gautam Patel Retires, Gets Full Court Farewell Function
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Strong-Arm Tactics : Bombay High Court Says Public Sector Banks Can t Request Look Out Circulars Against Defaulters, Quashes LOCs

The Bombay High Court recently observed that Look Out Circulars (LOCs) issued by Ministry of Home Affairs (MHA) against loan defaulters at the behest of public sector banks (PSBs) are strong-arm.

Justice madhavj jamdarBombay high courtMinistry of home affairsUnion of indiaBureau of immigrationOffice memoranda omsLook out circularsHome affairsOffice memorandaChief executive officersFugitive economic offenders actJustice gs patelJustice madhavj jamdarLook out circularsIght to travel overseasPublic sector banks