https://www.taxtmi.com/caselaws?id=405215 The court upheld the RBI's decision to cancel CKP Bank's license and appoint a liquidator under the MCS Act. It dismissed petitions alleging violations of natural justice, noting the bank's financial deterioration and lack of progress despite opportunities for revival. The court recognized depositors' rights and the DICGC's coverage limit, affirming the RBI's actions in public interest. Emphasizing legal compliance, the court supported the statutory powers of the RBI and Registrar, concluding the dismissal of petitions and the bank's liquidation. en-us Fri, 12 Mar 2021 00:00:00 +0530 Sat, 13 Mar 2021 08:42:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=405215 The court upheld the RBI's decision to cancel CKP Bank's license and appoint a liquidator under the MCS Act. It dismissed petitions alleging violations of natural justice, noting the bank's financial deterioration and lack of progress despite opportunities for revival. The court recognized depositors' rights and the DICGC's coverage limit, affirming the RBI's actions in public interest. Emphasizing legal compliance, the court supported the statutory powers of the RBI and Registrar, concluding the dismissal of petitions and the bank's liquidation. Case-Laws Indian Laws Fri, 12 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=405215