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Look Out Circulars Can’t Be Used As Tools For Loan Recovery: Karnataka HC

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By Mariya Paliwala
Look Out Circulars Can’t Be Used As Tools For Loan Recovery: Karnataka HC

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The Karnataka High Court has held that look out circulars (LOCs) cannot be used as tools for loan recovery. The bench of Justice Krishna S Dixit has has conditionally suspended Look Out Circulars (LoCs) issued against a 78-year-old Indian citizen in connection with large loan recovery proceedings initiated by public sector banks, holding that LoCs…

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Mariya Paliwala
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

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