Gauhati High Court Orders Seizure Of ASCARD Bank's Transaction Docs

The order comes in light of the employees of the bank not receiving their wages for the past several months.
Gauhati High Court
Gauhati High Court

The Gauhati High Court on Friday ordered the seizure of all transactional documents of the Assam State Co-operative and Rural Development (ASCARD) Bank.

The high court directed the director-general of police (DGP) to take seize all documents related to financial transactions of the bank.

The order comes in light of the employees of the bank not receiving their wages for the past several months.

The DGP of Assam police has been instructed to seize documents from the main office of the ASCARD bank in Guwahati’s Ulubari as well as 28 other branches across the state.

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According to reports, the employees of the bank approached the high court after non-payment of their dues for the past several months.

Meanwhile, the bank authorities, in a submission to the court, revealed that it had only Rs 21 lakhs in funds.

This was submitted to the court by the top officials of ASCARD bank on Friday, after which the Gauhati high court ordered the seizure of all transactional documents of the bank, directing the DGP to initiate proceedings.

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