Supreme Court of India
M/s. Durga Hotel Complex v. Reserve Bank of India and Ors.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
We are of the view that the High Court was justified in ' .. interfering with the Award of the Banking Ombudsman on the ground that he H could not have passed the Award in view of the divestiture of his jurisdiction.
Judgment, page 15
From the headnote
Banking Ombudsman Scheme, 1995: Clauses 13 and 16-Jurisdiction of the Banking Ombudsman-Scope of-Complaint filed before the Banking Ombudsman-Subsequent filing of the claim by Bank before Debts Recovery Tribunal-Held, Banking Ombudsman loses jurisdiction to entertain the complaint-Banking Regulation Act, 1949. Clauses 13 and 16-Banking Ombudsman-Jurisdiction of-Held, Is limited-He has no authority to compel the Bank to make further advances He cannot interfere with agreement regarding repayment schedule fixed by parties or financing ratio that may be maintained between Bank and borrower or
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