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One of the implied terms of contract obliged to keep the affairs of his customer secret even after the a/c is closed & extends after customers death. Duty is legal one, not merely moral breach of it would result in damages nominal or substantial.
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A. Disclosure under compulsion of law. i. Under Bankers Books Evidence Act 1891. ii. Summons by civil & criminal courts to produce Documents / Tender oral Evidence & Notices by Public officials for production of Documents. iii. Under Income Tax Act 1961. iv. Under other statutor (a) Companies Act (b) Gift tax Act (c )Estate Duty Act (d)Wealth Tax Act (e) RBI Act 1934 (f) BR Act 1949 3
B. Where there is a Duty to the Public to disclose No case in this regard. Not to be taken lightly. C. Where the Interest of bank requires disclosure To the guarantor when banker wishes to recover his dues. D. Disclosure by Express or Implied Consent of Customer In writing from customer
Mr.B.J.Ved
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