#banking fraud

Patna HC quashed cognizance against a 35-year panel advocate for UCO Bank, holding that bona fide title opinions on loan properties cannot attract criminal liability under IPC Sections 406, 420, 467, 468, 471, and 120B absent mala fide or conspiracy. Legal opinions are advisory and non-binding; prosecuting advocates for genuine professional advice strikes at the justice delivery system.

The Delhi State Consumer Commission held SBI deficient for not proving the customer authorised the mobile number change that led to ₹42.9 lakh unauthorised withdrawals, ordering refund of that amount plus ₹1 lakh compensation. The ruling clarifies that banks bear the burden of proof for mandate verification, protecting senior customers from fraud due to lax internal controls.

Chhattisgarh High Court sets aside conviction under Sections 489-B and 489-C IPC, ruling that possession of counterfeit notes alone does not establish criminal intent unless knowledge or fraudulent purpose is proven. The judgment reinforces the mens rea requirement in counterfeit currency offenses, impacting prosecutions under the IPC.