Banking IV (2013) BC 434 (SC) Dishonour of Cheque — Payment of additional amount in lieu of sentence of imprisonment — Power to levy fine is circumscribed under statute to twice the cheque amount — Court cannot impose a fine more than twice the cheque amount. IV (2013) BC 407 (SC) Auction Sale — Compromise between borrower and auction purchaser and Bank not a party to compromise — Auction purchaser not at liberty to file any action against Bank for any omission committed by it — Such grant of liberty was not within domain of Tribunal regard being had to its limited jurisdiction under special legislation, especially when Bank was not a party to compromise. IV (2013) BC 407 (SC) Recovery of Debts Due to Banks and Financial Institutions Act, 1993 — Section 17 — Object and Purpose of Enactment — Speedy recovery of dues to Bank — Purpose of RDDBFI Act is to provide for establishment of Tribunals and Appellate Tribunals for expeditious adjudication and recovery of debts due to Banks and financial institutions and for matters connected therewith or incidental thereto. ~ DLT
Posted on: Tue, 21 Jan 2014 06:54:51 +0000
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