REPCO not a "Bank": Madras High Court [Read Order]

"Whatever the business of the respondent (REPCO) may have blossomed to, it cannot be regarded as a bank", the Court found.
Chief Justice Sanjib Banerjee and Justice Senthilkumar Ramamoorthy
Chief Justice Sanjib Banerjee and Justice Senthilkumar Ramamoorthy

The Madras High Court recently ruled that the Repatriates Cooperative Finance and Development Bank Limited (REPCO) is not a "bank" or a "secured creditor" that is eligible to invoke the provisions of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest (SARFAESI) Act, 2002 (SP Ganesh v. The Authorised Officer, REPCO).

Loading content, please wait...

Related Stories

No stories found.
Bar and Bench - Indian Legal news
www.barandbench.com