Monday, January 25, 2021
Home Business News ‘Status quo’ for Anil Ambani companies’ SBI accounts - Times of India

‘Status quo’ for Anil Ambani companies’ SBI accounts – Times of India

NEW DEKHI: The Delhi high court on Wednesday asked SBI to maintain status quo with regard to accounts of Anil Ambani’s firms — Reliance Communication (RCom), Reliance Telecom and Reliance Infratel — which the bank has declared as fraud accounts.
Justice Prateek Jalan, however, allowed SBI and the RBI to take steps in the nature of an investigation or filing of complaints against the erstwhile directors and the three companies independent of the action of declaring the accounts as fraud.
The HC acted on a plea by former directors of the three companies challenging a 2016 circular of the RBI on declaring accounts as fraud by banks. According to the plea, the circular allows banks to declare an account as fraud without giving any prior notice or communication to the account holder against the principles of natural justice.

Source link

In this blog our main motive is to provide you all kind of latest information about technology, politics, sports, and health. If you want to read this information then you should have to visit our website. This information will help you to increase your knowledge.


Please enter your comment!
Please enter your name here

Most Popular

Amid ailing economy, Imran Khan to mortgage Islamabad’s biggest park to get loan – Times of India

ISLAMABAD: To overcome Pakistan's ailing economy, Prime Minister Imran Khan is considering mortgaging Islamabad's biggest park to get a...

Pakistan’s foreign minister Shah Mahmood Qureshi says Pakistan ready to work with new US administration – Times of India

ISLAMABAD: Pakistan's foreign minister Shah Mahmood Qureshi said on Sunday that his country was ready to work...

Germany buys same corona meds used to treat Trump – Times of India

FRANKFURT: Germany will become the first European Union country to start using the same experimental antibodies treatment credited with helping Donald Trump

IIFT 2021 Exam Analysis: Difficulty Level, Review – Times of India

IIFT Exam is taken by thousands of students every year for admission to courses like MBA. The IIFT Exam for this year took...

Recent Comments