Lender Banks Required to Provide Audit Reports to Borrowers & Allow Representation Before Classifying Accounts as Fraud

Amit Dineshchandra Patel Vs Reserve Bank of India (Gujarat High Court)

The Gujarat High Court’s judgment in the case of Amit Dineshchandra Patel Vs Reserve Bank of India represents a pivotal moment in the jurisprudence surrounding banking fraud in India. This judgment underlines the necessity of adhering to the principles of natural justice, particularly the rule of audi alteram partem, before a borrower’s account is classified as fraudulent by lending institutions.

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