Date: November 12, 2026
Legal / Strategic Disclosures
Court Order Details:
- The Bank received an order dated April 9, 2025, from the Hon'ble Chief Metropolitan Magistrate Court, Egmore, Chennai – 600 008.
- The order imposed a fine of ₹20,00,000 (Twenty Lakh Rupees) on the Bank.
- The fine was levied under Sections 409 and 477(A) of the Indian Penal Code, 1860 (now known as Bharatiya Nyaya Sanhita, 2023) and under Section 248(2) of the Code of Criminal Procedure, 1974 (now known as Bharatiya Nagarik Suraksha Sanhita, 2023).
Background of the Matter:
- The matter arose from a complaint filed by Mr. R. Selvaraj, a customer of the Bank.
- The complaint was in relation to the alleged excess collection of amounts towards loan repayment.
- It also concerned the delay in refund following the foreclosure of the loan account in 2007.
- Additional issues included certain related matters concerning the furnishing of the Statement of Account and the Termination of Account Statement.
Bank's Response and Financial Impact:
- The Bank has preferred an appeal against the order.
- The Bank believes it has adequate grounds to support its position in the matter.
- The financial impact of the order is stated to be limited to the amount of the fine (₹20,00,000).
Reason for Delayed Disclosure:
- The disclosure was not filed earlier as the matter was under dispute and sub-judice.
- The disclosure is now being made in view of a communication received from a regulatory authority, specifically the National Stock Exchange of India Limited.