New Delhi, April 7 The Supreme Court on Tuesday said that borrowers are not entitled to a mandatory personal hearing before their accounts are classified as fraudulent by banks under the rules laid down by the Reserve Bank of India (RBI).A bench of Justices J B Pardiwala and K V Viswanathan...
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Mumbai, February 24 The RBI's Master Directions aim to identify fraudulent borrowers and unscrupulous individuals for timely action, and any violation of these directions is not subject to judicial scrutiny, the Bombay High Court has said while lifting the stay on action by three banks to...
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Mumbai, February 23 In a setback for industrialist Anil Ambani, the Bombay High Court on Monday overturned a single-judge's interim order that had stayed proceedings initiated against him and Reliance Communications Ltd for classifying their bank accounts as fraudulent.A division bench of...
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