Banking Law

Mr.Ramanbhai Mathurbhai Patel vs. State of Maharashtra & Anr.

Well, you read the Dashrath Rupsingh Case of Supreme Court on territorial jurisdiction in cheque bouncing case . Now read the summary of this Bombay High Court’s judgment delivered on August 25, 2014 which held that all the cases of cheque bouncing, where the cheque was payable at all branches of the bank, can be filed in the court within whose local jurisdiction the nearest available branch of Drawer’s bank was situated.

Banking Law

Requirements for Foreign Investment in NBFCs under RBI’s latest Master Circular, 2014

RBI Master Circular on Foreign Investment in India dated July 1, 2014 (“RBI Master Circular”) which lays down the legal requirements for foriegn direct investment in Non-banking Financial Companies (“NBFCs“).  As per this Master Circular, foreign investment into Non-Banking Finance Companies is allowed to the extent of 100% under the automatic route in only the following activities,…

Banking Law

DASHRATH RUPSINGH RATHORE Vs. STATE OF MAHARASHTRA

Citation: MANU/SC/0655/2014 Decided On: August 1, 2014 Key Words: Territorial Jurisdiction, Section 138, Negotiable Instruments Act, Dishonour of Cheque, Cheque Bouncing Issue: Court’s territorial jurisdiction regarding criminal complaints for dishonour of cheque under the Negotiable Instruments Act (“Act“). Significance: The present case strikes a discordant note on certain aspects of territorial jurisdiction which have for long been considered settled by earlier decisions…

Banking Law

MSR Leathers Vs. S. Palaniappan and Anr.

MSR Leathers Vs. S. Palaniappan and Anr. (2013) 10 SCC 568 Prosecution based on second or successive dishonour of cheque shall be permissible. Facts S. Palaniappan (Respondent) issued four cheques to MSR Leathers (Appellant) on 14th August, 1996. These cheques were presented to the bank by the Appellant on 21st November 1996 and were subsequently…