M/s Amit Enterprises & Anr. v. Canara Bank & Ors.

…Appellant

…Respondent

Case No: Appeal No. 85/2012

Date of Judgement: 20/07/2023

Judges:

Mr Justice Ashok Menon, Chairperson

For Appellant: Mr Ajay D.T., Advocate.

For Respondent: None.

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Facts:

Arguments by Appellants:

Arguments by Respondent Bank:

The Respondents (Canara Bank and others) did not appear before the Appellate Tribunal despite being served with notice and were set ex parte.

Cases Cited:

State Bank of India vs. Arvada Electronics Ltd. Civil Appeal No. 6954 of 2022

Sections and Laws Referred:

Article 12 of the Constitution of India

Section 138 of the Negotiable Instruments Act

Reserve Bank of India (RBI) guidelines on One-Time Settlement (OTS) schemes