Supreme Court Allows Bank's Appeal in Consumer Dispute Over Insurance Deficiency — Bank Not Liable for Failure to Insure Hypothecated Assets Where Contract Imposed Primary Obligation on Borrower. The Court held that the bank's liberty to insure did not create a duty, and the borrower's indemnity clause shielded the bank from liability for uncovered losses.
20 May 2020The appellant, Canara Bank, had extended credit facilities to the respondent, Leatheroid Plastics Pvt. Ltd., since 1980. On 4th January 2001, the bank...
