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HC stays prosecution of Global Trust Bank former chief
Highlights
Justice T Sunil Chowdary of the High Court at Hyderabad on Friday admitted petitions to quash criminal cases lodged against a former Director of the erstwhile Global Trust Bank. The former Director Sridhar Subhasri pointed out that the criminal case lodged against him under the Companies Act was misconceived.
Hyderabad: Justice T Sunil Chowdary of the High Court at Hyderabad on Friday admitted petitions to quash criminal cases lodged against a former Director of the erstwhile Global Trust Bank. The former Director Sridhar Subhasri pointed out that the criminal case lodged against him under the Companies Act was misconceived. He pointed out that banking companies did not attract the provisions of the Companies Act. He further alleged that the complaint was also time barred and factually misconceived. The judge stayed the prosecution.
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