SUPREME COURT: NOTICE ISSUED ON RBI APPEAL AGAINST KERALA HIGH COURT THAT LIFTED LOAN RESTRICTIONS IMPOSED ON CO-OPERATIVE BANK
The Business Guardian|July 31, 2023
The Supreme Court in the case Reserve Bank of India V. Thiruvalla East Co- Operative Bank Ltd observed and has issued the notice to in an appeal filed by the Reserve Bank of India, against an order of the Kerala High Court that lifted the loan restrictions imposed by it on Thiruvalla East CoOperative Bank Ltd.
SUPREME COURT: NOTICE ISSUED ON RBI APPEAL AGAINST KERALA HIGH COURT THAT LIFTED LOAN RESTRICTIONS IMPOSED ON CO-OPERATIVE BANK

The Division bench comprising of Justice Sanjay Kishan Kaul and Justice Sudhanshu Dhulia in the case observed and has issued the notice.

In the present case, the Division bench of the Kerala High Court in the case observed and has affirmed the order of the single bench headed by single bench that lifted the restriction placed on the Co-Operative Bank by RBI to stop further sanction or the disbursal of loans and advances as the bank was not given an opportunity of hearing.

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The Business Guardian

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