Bank Can Challenge Order Canceling Gift Deed Under Senior Citizens Act If Children Default On Loan Repayment: Karnataka High Court
The Karnataka High Court recently quashed an order passed by the Assistant Commissioner of Hassan, which had cancelled a gift deed executed by an elderly father in favor of his children. The court's ruling came in response to a writ petition filed by AXIS Bank, which had advanced a loan of ₹18 lakh to the children of Mir Johari Ali, who had mortgaged the property gifted to them by their…
