In the Corporate Sector, the special knowledge in this special law has an extensive significance. The Banks cannot file a case against their employees under this law for misappropriation of fund. For Example, the Banks can file a suit against the defaulter borrowers but the Borrowers can not file any suit against the Banks under this special law. This special law is called the Money Loan Court Act, 2003 (popularly known as Artha Rin Adalat Ain). And thinking the matter, the Government has enacted a special law in 2003 for the proper and speedy realization of the money from the defaulter borrowers. For that reason, a proper legal process is highly required for the recovery of the money. Thus, the Banking transaction goes on.īut sometimes the problem arises when some borrowers become defaulters of repayment of the borrowed money and the Banks fall in a critical situation. Therefore, Banks lend and invest this Money to the Borrowers. People generally deposit their money to the Banks for proper investment and transaction. Banks are the custodians of the public money.
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