https://www.taxtmi.com/caselaws?id=105695 Directions issued under Section 35A of the Banking Regulation Act, 1949 have statutory force, and an award under the Banking Ombudsman Scheme, 1995 becomes binding once the complainant accepts it. The Scheme provides no appeal against the award, and a bank's request to await Reserve Bank permission does not suspend its obligation to comply. Where the challenge concerns only implementation and the insistence on surety, the matter is confined to enforcement rather than review of the Ombudsman's merits. The award was therefore treated as enforceable, and the bank was directed to release the amount without further delay or additional surety. en-us Wed, 27 Sep 2000 00:00:00 +0530 Wed, 07 Mar 2012 11:39:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=105695 Directions issued under Section 35A of the Banking Regulation Act, 1949 have statutory force, and an award under the Banking Ombudsman Scheme, 1995 becomes binding once the complainant accepts it. The Scheme provides no appeal against the award, and a bank's request to await Reserve Bank permission does not suspend its obligation to comply. Where the challenge concerns only implementation and the insistence on surety, the matter is confined to enforcement rather than review of the Ombudsman's merits. The award was therefore treated as enforceable, and the bank was directed to release the amount without further delay or additional surety. Case-Laws Companies Law Wed, 27 Sep 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=105695