In such cases you cannot file any PIL. In this there is no such Public Interest is involved. But the affected banks can file a case against the defaulter to repay the loan amount and if the evidences are strong enough in the hands of the Bankers then they can request the Court of Law to restricting him from absconding by confiscating the Passport. Further they can put up an application to RBI to freeze all his accounts in all the banks in India. Further they can file a civil suit for attaching all his property as surety for his loan amount.
Normally the Banks must have some deposit with RBI and even if the bank declared insolvency then also the investors will get their money. First preference will be given to Savings Account, then RD, then FD and finally the Debentures. But the Shareholders cannot claim any loss.
The loan will be given to any person at the discretion of the bank. Hence the loss will be borne by the bank and not the customers.
In this case we cannot file any PIL.
Further if at all you want to file any case then you can file only against the bank and not against the borrower of loan.
I Like to know that once submitting resignation and taking PF amount (PF application signed from same ex employer--means accepting and reliving).
Can the ex employer can sue him in civil court or labor court for any misconduct in his tenure,(whatever kind it is)
Ex employer is pvt ltd company, what would be the hold on ex employee can we put a case on ex employee.
What kind of offence/misconduct may be considered for filing a case.
For instance after 2- 3 year if he/she is found involved in a theft/de-morale,etc