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IN THE HIGH COURT AT CALCUTTA
KRISHNA RAO
Amit Kumar Kejriwal – Appellant
Versus
Bank of India – Respondent
JUDGMENT :
KRISHNA RAO, J.
1. The petitioner has filed the present writ application challenging the show cause notice dated 28th February, 2024 and the impugned order dated 7th August, 2024 wherein the Deputy Zonal Manager, Bank of India, Ranchi Zone, has decided to classify the account of M/s. Swati Mining Pvt. Ltd. as “Fraud”.
2. This is the 2nd round of litigation before this Court. In the earlier round of litigation or by an order dated 18th July, 2023, this Court set aside the order passed by the bank wherein the bank has classified the account of the petitioner company as “Fraud”. Being aggrieved with the order passed by this Court, the bank had preferred an appeal being M.A.T No. 1769 of 2023 and the Appellate Court by a judgment dated 16th November, 2023, allowed the appeal in part holding that while sustaining the order passed by the Writ Court setting aside the classification of the writ petitioner and the company as fraud, liberty is given to the appellant/bank to proceed afresh in accordance with law.
3. Ms. Noelle Banerjee, Learned Advocate representing the petitioner submits that the Appellate Court has given liberty to the bank to proceed against the petitioner afresh in
A bank must adhere to principles of natural justice by providing borrowers with necessary documents and an opportunity to be heard before classifying accounts as fraud.
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 classification of an account as fraud must adhere to principles of natural justice, including providing a reasoned order and opportunity to be heard.
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 court established that the principles of natural justice require that a borrower be given notice and an opportunity to respond before their account is classified as fraud.
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 ....
Natural justice principles demand notice and opportunity for personal hearing before classifying bank accounts as fraud, ensuring that parties have the chance to defend their rights against severe pe....
Classification of accounts as 'fraud' requires adherence to procedural fairness, including consideration of responses from affected parties, as mandated by RBI Master Directions.
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