Can a money suit (Recovery suit) be filed against a Bank official who is said to have conspired with a Borrower and advanced a sum of money to the Borrower exceeding the authority of the Bank official? A criminal case is registered against the Bank officer.
N.Ramakrishnan (Advocate/ Senior Partner) 29 September 2009
Dear Mr. Menon,
There is no manner in which a money recovery suit can be filed against a bank officer cfor conspiring with the borrower to grant a loan unless he himself has signed as a borrower/guarantor/mortgagor. No doubt, the bank proceed against him criminally.
Thank,
Ramakrishnan, ADV
| Originally posted by :ANIL KUMAR MENON | ||
| " | Can a money suit (Recovery suit) be filed against a Bank official who is said to have conspired with a Borrower and advanced a sum of money to the Borrower exceeding the authority of the Bank official? A criminal case is registered against the Bank officer. | " |
Sir,
Is there any authority to support your contention.
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