Patanjali Dhar
28 March 2018 at 12:43
An Insurance Policy can be taken by a breadwinner of the family under MWP Act for the benefit of the family/wife and children. Whether a Pension Policy can also be taken under MWP Act for the benefit of wife and children. The proceeds under MWP Act can not be attached and as such pension policy under MWP Act can become a property for the wife and children in case of any unforeseen circumstances. I request the legal experts to throw some light on the issuance of Pension Policy under MWP Act from the point of legal position and any judgement from the Courts and IT Tribunals on the matter.
Patanjali Dhar
01 May 2017 at 20:46
I want to file a case against a Housing Company whcich is a subsidiary of a large Indian Company. The Housing Construction Co. is a Limited Company owned by a trust of a very large Conglomerate of the Companies in the sector of IT, Chemicals, Automobile manufacturing etc. The Trust has majority share holding in all the Companies and has 99.96 % holding in the Housing Company. I am filing case in Consumer Court against the Company, Its CEO and Chairman of the Trust hoding 99.96% equity hoding in Housing Co. Can I include Chairman of the Trust as one of the defendant parties. I have already issued necessary notice to the Chairman of Trust along with CEO of the Housing Company. Please advise whether the parent Company is also liable for the damages.
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Liabilty of the financial institution to the frauds and prin
An Employee in a Bank fradulently sells the property of the Bank to a third person. The third person without due diligence makes the payment and asks the .Bank to hand over the possession of the property? As per the property laws, Corporate laws etc., is it incumbent on the Bank to hand over the possession of the property to the third person? If RBI advises the Bank to honour the transaction made fradulently by an Employee and accepted by third person without due diligence.What is the legal position?
ii) In case of PNB Nirav Modi fraud, a few Employees of the Bank fradulently issue LOU worth thosands of Crores. The Indian Banks in foreign countries honour these LOUs without due diligence, when they knew that LOUs in India are issued for 3 months and they have been issued for 1 year. RBI is reportedly said to have advised Bank to honour these fradulent LOUs. Whether it is incumbent on the Bank to honour all the fradulent documents/ transactions, when it is clear that with due diligence such fraud would have been detected by the Indian Banks located in foreign countries? What is the legal position? If a precedent is created in PNB, then all the financial Institutes would be liable to honour transactions made fradulently?
iii) I am a minority share holder in PNB. If they honour fradulent transactions worth thousands of crores, they are intentionally causing huge losses to the Bank and consequently causing loss to all the shareholders. Can I file a case against Bank for wilfully causing loss by honouring fradulent transactions and claim compensation?
iv) Can any Advocate file my case de bono?