State Bank of Travancore and Another v. Mathew K.C. - Supreme Court Important Judgment

 State Bank of Travancore and Another v. Mathew K.C. - Supreme Court Important Judgment 2018 - 

On 30th January, 2018, in the case of Authorized Officer, State Bank of Travancore and Another v. Mathew K.C. [Civil Appeal No.1281 of 2018], it was held that “in financial matters grant of ex-parte interim orders can have a deleterious effect and it is not sufficient to say that the aggrieved has the remedy to move for vacating the interim order.”

The Supreme Court observed that “loans by financial institutions are granted from public money generated at the tax payers expense. Such loan does not become the property of the person taking the loan, but retains its character of public money given in a fiduciary capacity as entrustment by the public. Timely repayment also ensures liquidity to facilitate loan to another in need, by circulation of the money and cannot be permitted to be blocked by frivolous litigation by those who can afford the luxury of the same.”