ORDER :

(ANIRUDDHA P. MAYEE, J.) 

1. By the present writ petition, the petitioners pray for an appropriate direction to quash and set aside the declaration of the account of petitioner No.1 as fraud under the RBI Circular, declared on 12.4.2021 in FIR No.RC0572022S0001 dated 27.3.2022.

2. Learned counsel Mr. Arjun Sheth appearing on behalf of the petitioners submits that the petitioners were never issued any show cause notice nor any opportunity of hearing was accorded to the petitioners before declaring the account of petitioner No.1 as fraud on 12.4.2021. Mr. Sheth submits that it appears that the respondent Bank has relied upon the Forensic Audit Report dated 12.3.2020 given by M/s. R.K. Doshi & Co. LLP before arriving at such an adverse conclusion against the petitioners. Mr. Sheth submits that the respondent Bank has not supplied any material, including the Forensic Audit Report, to the petitioners before declaring the account of petitioner No.1 as fraud account. In support of his submissions, Mr. Sheth relies upon the judgment of the Apex Court in the case of State Bank of India and Others v. Rajesh Agarwal and Others reported in (2023) 6 SCC 1, wherein it has been held that the