Recently, the Punjab and Haryana HC ruled that, the Indian banking entities cannot request “Look Out Circular” for recovery of dues owed to their foreign sister concern. The bench of Justices M.S. Ramachandra Rao and Harkesh Manuja was dealing with the case where the the petitioners have challenged the Look Out Circulars [LOC] issued and
Can Indian Banking Entities Request “Look Out Circular” For Recovery of Dues Owed to Their Foreign Sister Concern? P&H HC Says No
