https://www.taxtmi.com/caselaws?id=793973 A Look Out Circular cannot be justified merely as a debt-recovery measure in a loan default dispute where no cognizable offence or other recognised exceptional ground is shown. The Patna HC found that the bank had already pursued SARFAESI and DRT remedies, no charge-sheet had been filed against the petitioner, and no fresh material supported the LOC request under the governing guidelines. On that basis, the requisition and consequential LOC were held unsustainable in law and set aside, while the writ petition succeeded subject to undertakings and conditions requiring cooperation with the bank in resolving outstanding liabilities. en-us Mon, 04 May 2026 00:00:00 +0530 Sat, 27 Jun 2026 08:33:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=793973 A Look Out Circular cannot be justified merely as a debt-recovery measure in a loan default dispute where no cognizable offence or other recognised exceptional ground is shown. The Patna HC found that the bank had already pursued SARFAESI and DRT remedies, no charge-sheet had been filed against the petitioner, and no fresh material supported the LOC request under the governing guidelines. On that basis, the requisition and consequential LOC were held unsustainable in law and set aside, while the writ petition succeeded subject to undertakings and conditions requiring cooperation with the bank in resolving outstanding liabilities. Case-Laws Indian Laws Mon, 04 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=793973