Gold Loan Company Cannot Retain Stolen Gold Pledged with It; Security Interest Not a Valid Defence: Karnataka High Court
The Karnataka High Court dismissed a writ petition filed by IIFL Finance Ltd. challenging a notice issued by the police under Section 94 Bharatiya Nagarik Suraksha Sanhita. The notice was issued during investigation into an FIR relating to alleged theft and criminal breach of trust involving gold ornaments that were pledged with the finance company for securing loans. Allegations Against Bank Employee The matter originated from a complaint lodged against…
