Published 2 years ago

Bank Can Initiate Criminal Action If Account Declared Fraud, Even After Invoking SARFAESI Act: Karnataka High Court

Summary by Ground News

The Karnataka High Court has said that the Central Bureau of Investigation (CBI) can investigate the complaint registered by a bank against a company and its directors. The company could not pay its debt in time and was proceeded against under the SARFAESI Act. The bank also declared the company's account fraud and account holders to be wilful defaulters. The matter was referred to the CBI.

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Bank Can Initiate Criminal Action If Account Declared Fraud, Even After Invoking SARFAESI Act: Karnataka High Court

The Karnataka High Court has said that the Central Bureau of Investigation (CBI) can investigate the complaint registered by a bank against a company and its directors, alleging offences of...

2 years ago·India

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Bank Can Initiate Criminal Action If Account Declared Fraud, Even After Invoking SARFAESI Act: Karnataka High Court

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Bank Can Initiate Criminal Action If Account Declared Fraud, Even After Invoking SARFAESI Act: Karnataka High Court

Bank Can Initiate Criminal Action If Account Declared Fraud, Even After Invoking SARFAESI Act: Karnataka High Court

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