Court shocked as bank publishes names & pics

The Bombay High Court has said it is "shocked and enraged" over Punjab National Bank (PNB) publishing the names and photographs of directors of a jewellery company in a financial daily, despite being aware that the matter was pending before the court and that the borrowers had sought urgent protection.

- Urvi Mahajani

The court was hearing petitions filed by jewellery manufacturer Damara Gold and its directors challenging PNB's orders classifying the company as a "wilful defaulter" and its account as "fraudulent".

On December 10, the petitioners had sought an urgent hearing and a temporary stay restraining the bank from taking coercive steps pursuant to its decisions.