https://www.taxtmi.com/caselaws?id=457200 The Bombay HC allowed a writ petition challenging a bank's show cause notice for de-empanelment of an advocate. The advocate had provided a non-encumbrance certificate for loan approval, which was later found unacceptable. The court held that advocates in banking sector work must exercise reasonable competence and due diligence but cannot guarantee absolute accuracy of legal opinions. The bank's show cause notice was quashed as it predetermined gross negligence without proper hearing, violating natural justice principles. The court granted liberty to the bank to take fresh appropriate steps if advised. en-us Wed, 03 Aug 2022 00:00:00 +0530 Wed, 11 Sep 2024 20:40:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457200 The Bombay HC allowed a writ petition challenging a bank's show cause notice for de-empanelment of an advocate. The advocate had provided a non-encumbrance certificate for loan approval, which was later found unacceptable. The court held that advocates in banking sector work must exercise reasonable competence and due diligence but cannot guarantee absolute accuracy of legal opinions. The bank's show cause notice was quashed as it predetermined gross negligence without proper hearing, violating natural justice principles. The court granted liberty to the bank to take fresh appropriate steps if advised. Case-Laws Indian Laws Wed, 03 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457200