Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
← back
Informative
Canara Bank has no Locus standi to initiate recovery proceedings Maruti Automobiles, Citing...
BankingCorporate Law & Governance
The DRAT (Debt Recovery Appellate Tribunal) has ruled that "Canara Bank has no locus standi to initiate recovery proceedings" against Maruti Automobiles, citing "finalised proceedings under the SARFAESI Act." The tribunal found that the bank's recovery attempt was invalid as the matter had already been concluded in previous proceedings. This decision prevents banks from pursuing recovery actions after a matter has been settled, thereby protecting borrowers from repeated legal challenges and bringing finality to recovery proceedings.
