Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: empanelment :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: due date for vat payment :: cpt :: articles on VAT and GST in India :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: TDS :: VAT RATES
 
 
ITAT-Constitution of Benches »
 Income Tax Appellate Tribunal Ahmedabad Benches, Ahmedabad Shri Rajpal Yadav, Jm & Pradip Kumar Kedia, Am Causelist For Bench 'A' 21/08/2017
 Income Tax Appellate Tribunal Bangalore benches Bangalore Causelist for the week from 21-08-2017 To 24-08-2017
 Income Tax Appellate Tribunal New Delhi Benches New Delhi Causelist for Bench 'B' 07/08/2017
 Income Tax Appellate Tribunal New Delhi Constitution of Benches from 21/08/2017 To 25/08/2017
 Income Tax Appellate Tribunal Banglore Causelist for The week from 14/08/2017 To 17/08/2017
 Income Tax Appellate Tribunal Mumbai Consolidated list of orders ready for Pronouncement on 16/08/2017
 Income Tax Appellate Tribunal, Ahmedabad Benches, Ahmedabad Constitution For The Period From 14-08-2017 To 17-08-2017 & 21-08-2017 To 24-08-2017
 Income Tax Appellate Tribunal : Bangalore Benches : Bangalore Constitution for the week from 21/08/2017 To 24/08/2017
 Income Tax Appellate Tribunal Mumbai Benches , Consolidated list orders read for Pronouncement 09-08-2017
 Income Tax Appellate Tribunal Kolkata Benches Kolkata Constitution of Kolkata Benches from 07/08/2017 To 10/08/2017 (11th August,2017- M.A.Day)
 Income Tax Appellate Tribunal Chennai Benches Chennai Constitution for the Week from 07/08/2017 To 10/08/2017

SC asks Indian Bank, BoB to release funds to coop societies
May, 31st 2008

The Supreme Court has directed two nationalised banks, Indian Bank and Bank of Baroda, to release funds to cooperative societies and credit banks allegedly involved in a fixed deposit scam by June first week.

The court, however, asked the banks to seek CBI's help to ascertain which cooperative society and credit bank was involved in the scam before disbursing the loan.

Allegedly, a large number of officers of the banks were involved in a scam involving loans against Fixed Deposit Receipts running into crores of Rupees.

While setting aside the Gujarat High Court judgement recently, a bench headed by Justice SB Sinha said the bank being a 'State' within the meaning of Article 12 of the Constitution of India with the assistance of CBI should make all attempts to ascertain as to which of the cooperative societies or cooperative banks were not involved in the scam and release the amount in their favour subject to certain precautions.

"Once the liability of the bank is determined, the bank may invest the said amount in its own account and issue fresh FDRs thereafter. Whereas the bank may keep the original FDRs with itself, it may issue the duplicate copies thereof to the eligible cooperative bank," the court said.

The bench also said that any cooperative society can avail of loan facilities for running their business from banks, which may release the same on a condition that the FDR amount would remain with them.

"Banks are constructively liable for acts of their employees. We will also assume that the banks are liable to pay the amount under the contract for which the FDRs were issued," the judgement said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
E-catalogue online catalogue E-brochure online brochure online product catalogue online product catalogue e-catalogue Indi

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions