Police must help banks take possession of liquidated property: Bombay High Court

by Paul Joseph on January 3, 2013 · 0 comments

Mumbai: In a significant order for the banking sector, Bombay High Court has ruled that police are duty-bound to extend assistance to banks or financial institutions when latter are acting under the Maharashtra Cooperative Societies Act to take possession of liquidated properties, etc. The recent ruling by the division bench of Justices A M Khanvilkar and R D Dhanuka came on a petition which alleged that police did not provide protection to the officers of Kolhapur-based Ravi Cooperative Bank for taking possession of a property. Petitioner Tulsidas Narsinga Vhatkar had bought the property in an auction conducted by the bank. According to him, after the auction, the bank requested the

[via India Properties – Real Estate India – Indian Property News Site]

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