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indiancitizen   23 January 2020

Banking scam - can criminal charges be filed against mgt

Dear all,

I would like to draw your attention to the recent banking scam in Sri Guru Raghavendra Co-op bank in bangalore where RBI has ordered the bank to stop all normal functions of the bank such as acceptance of new deposits, grant of new loans or making new investments and put a cap on withdrawal of amount by each person to a maximum of Rs.35000/- for a period of six months.. In this case, can the depositor can a police complaint of cheating against the bank management where they they been giving false information regarding NPA and such other financial information based on which the innocent depositor has deposited money in bank.?

Will the police be able to take action based on the complaint filed by the depositor?



Learning

 2 Replies

SHIRISH PAWAR, 7738990900 (Advocate)     23 January 2020

Dear querist,

As per my view it is not possible to file criminal complaint against bank management.

Regards,

indiancitizen   23 January 2020

Dear sir,

In that case, is there any legal remedy for the depositors?, since it would take many years for the people to get back their entire money at the rate of Rs.35000/- for 6 months.

can the depositor file RTI on RBI to extract info. regarding the fraud, on occurance of which the RBI has imposed the withdrawal limit on the depositors of the bank?


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