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Refusing Further Loan When Previous Loan Is Outstanding Is The Act Of A Prudent Banker, It Cannot Be Termed Abetment To Suicide: Bombay HC

The Bombay High Court while quashing and setting aside a case of abetment of suicide registered against a branch manager, observed that when previous loan amount is outstanding and if the branch manager is refusing to grant further loan, that can be said to be an act of a vigilant and prudent banker and cannot be termed as abetment of suicide. Division bench of Justice VM Deshpande and Justice AS Kilor of the Nagpur bench were hearing a criminal application filed by 38-year-old Santosh Kumar Singh who was working as Branch Manager for the bank of Maharashtra for quashing of FIR that was registered with Morshi Police Station, District Amravati, for offence punishable under Section 306 of the Indian Penal Code.

Asia Law Offices advised a major transnational strategic collaboration between its client, UAE-Based Pharmax Pharmaceuticals, and Swiss pharma major Acino Pharmaceuticals.

ALO represented Pharmax in the structuring and closure of entire transaction documents of the significant collaboration.

The collaboration framework extends to licensing, manufacturing, and supply of Acino formulations within the gastroenterology and the cardiovascular space throughout the Middle East and Africa.