#loan repayment

The Kerala High Court has ordered a co-operative society to accept repayment of Rs. 1,00,314 in twenty equal monthly instalments after the petitioner’s husband was diagnosed with terminal throat cancer. This ruling establishes that financial hardship arising from critical medical emergencies triggers equitable relief under co-operative recovery proceedings, shielding vulnerable borrowers from coercive enforcement while upholding the society’s right to recovery.

ITAT Nagpur holds that where a loan is received and repaid through banking channels in the same financial year, Section 68 additions are unsustainable even if lender is a paper entity.

Kerala High Court quashes criminal proceedings against bank members for availing loans outside service area, holding repayment negates criminal intent under PC Act and IPC.

ITAT Delhi holds that repayment of loans with interest before scrutiny proceedings, coupled with banking trail, establishes genuineness under Section 68, overturning arbitrary additions.