Supreme Court of India

Oriental Bank of Commerce v. Sunder Lal Jain & Anr.

Neutral citation
Reported as [2008] 1 S.C.R. 213
Bench G.P. Mathur J.
Decided 8 January 2008

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.

From the headnote

Banking I Banks: '1 Non-performing Assets (NPA) - Declaration of in terms of Reserve Bank of India's guidelines - Bank granting credit c facility to respondent-customer who defaulted in repayment of amount - Recovery petition - Allowed by Debt Recovery Tribunal - Respondent filing writ petition for direction to Bank to apply RBI guidelines for reconciliation and settling accounts and to declare their account as NPA from a specified date - Allowed by High Court directing the Bank to recover the amount by quarterly instalments over a period of two years - On appeal, Held: Statement by counsel

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