Page 21 - Banking Finance May 2025

LEGAL UPDATE

Can't open bank locker

»¹
¿
´
sans holder nod: HC
¹
Uttarakhand HC asked a public sector Ô Ô Ô Ô Ô » »» »¹ ¹¹ ¿ ¿¿ ¿ ´ ´´ ´
bank to clarify the rules that allowed
its officials to break open a customer's
locker without consent. It was hearing
a case filed on the basis of a complaint Ò»©­
by Sushila Devi (86), who alleged her
locker was opened and jewellery re-
moved in her absence in 2022, reports
Pankul Sharma.
Anoop Kumar, her son and co-holder of
the locker, detected the transgression
after visiting Bank of Baroda's generations," he said. An FIR was reg- Teleservices, it should be treated as a
Dehradun branch last year. Bank offi- istered in Jan at Dalanwala police sta- loan to a group firm and hence liable
cials reportedly failed to give a satis- tion, alleging robbery by the bank offi- for 18 per cent GST.
factory explanation to him following cials concerned. During court hearing,
which he filed an FIR against them. Justice Pankaj Purohit asked the BOB Tata Sons also argued that the pay-
"My mother kept 730gm gold and staffer's counsel to present the rules ment was the result of an arbitration
950gm of silver jewellery in the locker," authorising bank staff to forcibly open proceedings in London and hence not
he said. The court asked the bank how a locker when the account holder does liable for GST. It eventually cited
it planned to return the valuables to not respond. circulars by the Central Board of Indi-
the complainant. rect Taxes and Customs (CBIC) in 2022
and 2023 to claim that GST could not
A BOB employee approached court GST authority rules in be levied on liquidated damages.
seeking to quash the FIR. Although not
named in the complaint, he was em- favour of Tata Sons in Rs. NTT Docomo had acquired 26.5 per
ployed at the branch at the relevant 1,500-cr Tax case cent stake in Tata Teleservices in 2009
time. His counsel said the locker was when the Japanese company had de-
opened after multiple notices and re- The Adjudicating Authority of the cided to exit the venture at a pre-de-
minders went unanswered, and that Goods and Service Tax (GST) depart- termined minimum price, which it
ment has dismissed a demand of over
an inventory of the valuables was pre- sought to exercise in 2015.
Rs 1,500 crore on Tata Sons over a
pared and the contents sealed at the Tata Sons declined to pay the agreed
head office. settlement deal with Docomo. The amount citing Reserve Bank of India's
department could now contest this
However, Kumar, the coholder of the decision before the high court. Accord- view that such an exit could take place
locker, said they never received any at fair market value as per the
such communication from the bank. ing to a report in The Economic Times amended rule of 2013.
that quoted officials, the AA order will
"When I asked bank officials to show
act as a precedent for companies en-
me the notice and letter, they said the Join
gaged in arbitration.
documents and register have also been
misplaced," he told TOI. He said the The Directorate General of GST Intel- Online Certificate
jewellery included 21 ornaments "of ligence (DGGI) had claimed 18 per Course on
high sentimental value", some dating cent GST on the $1.27 billion that Tata
back to 1875. Group paid to Docomo in 2019 to Risk Management
"The locker contained heirlooms like settle a dispute with Tata Teleservices. For details please visit
Ramnavami ornaments, gold buttons The group had argued that since the www.smartonlinecourse.co.in
and a gold seal, passed down through payment was made on behalf of Tata

BANKING FINANCE | MAY | 2025 | 19