Bombay High Court Stays UCO Bank Order on Former RCom Director Classified as Fraudulent Borrower
4 hours agoBusiness
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1 SourcesMumbai, India
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Bombay High Court Stays UCO Bank Order on Former RCom Director Classified as Fraudulent Borrower

The Bombay High Court has stayed a UCO Bank order classifying former RCom director Manjari Ashok Kacker as a 'fraudulent borrower'. The court found the bank failed to specify Kacker's individual role or provide necessary documents for her defense. Kacker, who resigned from RCom in 2019, argued she was a non-executive director not involved in daily affairs and that the bank improperly used a forensic audit report from insolvency proceedings against her.

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