Can the Banks and other Financial Institutions file Suits in DRT against their employees for recovery of embezzlement or misappropriated amount?
N.K.Assumi (Advocate) 27 May 2010
Can the Banks and other Financial Institutions file Suits in DRT against their employees for recovery of embezzlement or misappropriated amount?
Daksh (Student) 27 May 2010
Dear Mr.N.K.Assumi,
The answer to your query has to be in negative for the following reasons.
The DRT Act govern the relationship amongst the Banker and Customer (defaulters).
The relationship amonst the Banks and their employees is governed through Service Agreement this cause of action cannot be espoused in DRT.
The jurisdiction of DRT is separate and it is a special act and does not cover the terms (or voilation) of the service condition as such.
I hope your query stands clarified.
Thanks and best regards
Daksh
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