Bombay High Court quashes Look Out Circulars by public sector banks against defaulters, ruling them violative of constitutional rights.
The Bombay High Court quashed Look Out Circulars (LOCs) issued by public sector banks (PSBs) against defaulters, stating that the banks' power to do so was arbitrary and violated the fundamental right to equality. The court ruled that LOCs infringed on the right to personal liberty and the right to travel abroad under Article 21 of the Constitution. Consequently, all LOCs issued by PSBs are deemed invalid.
April 26, 2024
4 Articles