Misappropriation of funds by bank and voliation of court order
04-Apr-2023 (In Banking / Finance Law)
On 12-08-2000 high court of Karnataka has ordered in decree that(A NATIONALISED BANK ) after sent it to SBM and open a Fixed deposit and give 9% pa interest till attainment of majority of that boy who was a victim of motor vehicle accident and give sum on attainment of majority and bank has awarded only 6% pa and now they are saying that court have no power to give interest rate to bank and what ever they done is right . What would mine next step please help me I received very less amount
You can file an Interim application in the case which was disposed off by High court of karnataka that
the nationalized bank has not awarded 9% interest and ask for a direction to pay the balance interest for the entire period. But pl.not that there are Supreme court judgments awarding only 6% interest, so you can try though before the High court of karnataka.
Pratap, Advocate
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