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CALCUTTA HIGH COURT
BHANU PROPERTIES LTD AND ANR – Appellant
Versus
RERSEVE BANK OF INDIA AND ANR – Respondent
IN THE HIGH COURT AT CALCUTTA
Constitutional Writ Jurisdiction
Original Side
Present :- Hon’ble Justice Amrita Sinha
WPO 200 of 2024
Bhanu Properties Ltd. & Anr.
Vs.
Reserve Bank of India & Anr.
For the writ petitioners :- Mr. Deepan Sarkar, Adv.
Mr. Tanish Ghaneriwala, Adv.
Mr. Ramendu Agarwal, Adv.
Ms. R. Goyel, Adv.
For the respondent no. 1 :- Ms. Suchismita Ghosh Chatterjee, Adv.
Mr. Malay Kr. Seal, Adv.
For the respondent no. 2 :- Ms. Soni Ojha, Adv.
Hearing concluded on :- 02.07.2025 Judgment on :- 26.08.2025
A bank may classify borrowers as 'fraud' even after settlement of debts under an OTS, based on RBI Directions safeguarding public interest and financial integrity.
The central legal point established in the judgment is the requirement for banks to adhere to the principles of natural justice, including providing notice and opportunity for representation, before ....
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 main legal point established in the judgment is the requirement to provide an opportunity to the borrower by furnishing a copy of the audit reports, allow the borrower to submit a representation,....
The classification of a loan account as 'fraud' based on forged documents is valid if it adheres to the existing regulatory framework and does not require a pre-decisional hearing.
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