SC upholds order on payment to StanChart

New Delhi, Nov 19: The Supreme Court has upheld a special court order, trying security scam cases, decreeing the suit of Standard Chartered for Rs 60.64 crore against Canara Bank.

A bench comprising Justice BN Kirpal, Justice N Santosh Hegde and Justice Ashok Bhan, in its recent order, said, “In our opinion the special court was right in decreeing the suit of the respondent (StanChart).” According to the order, the special court had found that a sum of Rs 60,64,71,275.12 was payable by Canara Bank to Stanchart. The court had also held that Canara Bank was liable to pay interest at the rate of 20% from Nov25, 1991, till the payment of the decretal amount.

— PTI