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G. S. KULKARNI, FIRDOSH P. POONIWALLA
Sandeep S. Ghandat – Appellant
Versus
Reserve Bank of India – Respondent
JUDGMENT :
Firdosh P. Pooniwalla, J.
1. RULE. Respondents waive service. Rule made returnable forthwith, heard finally by consent of the parties.
2. This Writ Petition has been filed under Article 226 of the Constitution of India, seeking the following final reliefs:-
(b)That this Hon’ble Court be pleased to issue a Writ of Mandamus or a Writ in the nature of Mandamus or any other appropriate Writ and/or order and direction under Article 226 of the Constitution of India after looking into legality and propriety of the impugned order dated 24.11.2023 direct the Respondent No.1 to withdraw the impugned order dated 24.11.2023.”
3. The case of the Petitioners in the Petition is as follows:-
The court affirmed that Section 36AAA of the Banking Regulation Act remains valid, allowing for the supersession of a cooperative bank's board for up to five years, without the necessity of a hearing....
(1) Loan frauds – Consistent with the principles of natural justice, lender banks should provide opportunity to a borrower by furnishing a copy of audit reports and allow borrower a reasonable opport....
The RBI's imposition of directives under Section 35A of the Banking Regulation Act does not necessitate pre-decisional hearings, emphasizing the need for depositor protection over procedural formalit....
The Supreme Court ruled that classification of borrower accounts as 'fraud' requires adherence to natural justice, including notice, opportunity to respond, and access to forensic reports but does no....
The classification of a borrower's account as fraud under RBI Directions necessitates adherence to the principles of natural justice, including the right to personal hearing, while representation by ....
The classification of an account as fraud involves the right to representation but does not mandate a personal hearing under the Master Directions on Fraud. This aligns with the principles of natural....
The cancellation decision was within the authority of the RBI, and the petitioner's admission of guilt and the opportunity of a personal hearing satisfied the principles of natural justice.
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