https://www.taxtmi.com/caselaws?id=757352 The Delhi HC dismissed a suit filed by NRI plaintiffs seeking recovery of Rs. 2 crores allegedly misappropriated by defendant bank. While the suit was filed within limitation period, plaintiffs failed to discharge burden of proof regarding unauthorized transfer from their NRE account. The court found no evidence that plaintiff's residential status change was communicated to bank, and plaintiffs could not prove bank officials improperly filled blank cheque or added unauthorized instructions. The court held that since no complaint was filed under FERA and plaintiffs failed to demonstrate FERA's applicability against the bank, they were not entitled to any recovery. en-us Fri, 16 Aug 2024 00:00:00 +0530 Fri, 23 Aug 2024 08:14:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757352 The Delhi HC dismissed a suit filed by NRI plaintiffs seeking recovery of Rs. 2 crores allegedly misappropriated by defendant bank. While the suit was filed within limitation period, plaintiffs failed to discharge burden of proof regarding unauthorized transfer from their NRE account. The court found no evidence that plaintiff's residential status change was communicated to bank, and plaintiffs could not prove bank officials improperly filled blank cheque or added unauthorized instructions. The court held that since no complaint was filed under FERA and plaintiffs failed to demonstrate FERA's applicability against the bank, they were not entitled to any recovery. Case-Laws FEMA Fri, 16 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757352