Case Law Details
ICICI Home Finance Company Ltd. Vs Union of India (Bombay High Court)
Non communication to petitioner about show cause notice being transferred to call book and being kept in abeyance would render the show cause notice to have lapsed
In the case of ICICI Home Finance Company Ltd. v. Union of India, decided by the Bombay High Court, the central issue revolved around the validity of show cause notices (SCNs) dated 22nd October 2010 and 21st October 2011 issued to the petitioner, ICICI Home Finance Company Ltd. (hereafter “the petitioner”). These notices pertained to financial years 2005-06 and 2006-07, respectively, and were challenged on grounds of procedural fairness and delay in adjudication.
Background and Proceedings
The petitioner, a wholly owned subsidiary of ICICI Bank Limited, approached the court seeking to declare the SCNs as non est due to significant delays in their adjudication. The petitioner had responded to SCN-1 on 28th June 2011 and to SCN-2 on 12th June 2013. Despite these responses, no adjudication took place for several years.
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