G-Sec Yield Flat after Its Sudden Dip

The 10-year benchmark government security (G-Sec) yield has been flat for the past 10 days...

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Loan: A Bank Cannot Break Into a Flat for Loan Default
The Bombay High Court has allowed proceedings against HDFC Bank over allegations that it seized a flat in Pune by breaking open locks after its owners defaulted on a loan.
 
In 2003, the Mahadiks couple had taken a loan of Rs8.5 lakh from HDFC Bank to buy a flat in Pune. In 2008, the Bank pasted a notice on the flat under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act. On 24 December 2010, the couple lodged a complaint before the magistrate who dismissed it saying the couple were ‘defaulters’. They appealed in the sessions court; but the appeal was dismissed. Then, they approached the Bombay High Court.
 
The High Court said, “Whether offences have been committed in the process of taking possession of the flat, and if so by whom, can be properly decided only after an investigation is carried out.” The judge questioned whether the Bank could have forcibly taken possession of the flat without a court order.

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Consumer Issues: Air Arabia Ordered To Pay Rs3.79 Lakh for Lost Baggage
Maharashtra State Consumer Commission ordered Air Arabia to pay Rs3.79 lakh compensation to an air passenger who lost one of his four bags on a Sharjah-Mumbai flight in 2005. The compensation included Rs3,800 as expenses incurred for repeat trips the complainant made to retrieve the bags.
 
The complainant, Dr Ashok Kataria, a Walkeshwar (Mumbai) resident, submitted before the Commission that he had travelled to the city on the flight on 15 July 2005. He alleged that when he and the co-passengers tried to enquire about the lost baggage, they did not get a satisfactory reply. When some bags were recovered, the airline offered to pay Dr Kataria a compensation of Rs860 for every kilogram of baggage lost, while assuming the weight of the bag was 30kg.

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