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Supreme Court of India

State Bank of India & Ors v. Rajesh Agarwal & Ors

Neutral citation
Reported as [2023] 7 S.C.R. 476
Bench Dr. Dhananjaya Y Chandrachud and Hima Kohli JJ.
Decided 27 March 2023

INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.

2 Supreme Court benches have cited this judgment.

What the Court ordered

We hold that the decision by the lender banks to classify the borrower accounts as fraud, is violative of the principles of natural justice.

Judgment, page 52

From the headnote

Reserve Bank of India Act, 1934 – Banking Regulation Act, 1949 – Reserve Bank of India (Frauds Classification and Report ing by Commercial Banks and Select FIs) Directions 2016 – Master Directions on Frauds – Principle of Natural Justice – Ru le of Audi Alteram Partem – The civil appeals arise out of a challenge to the Reserve Bank of India (Frauds Classification and Re porting by Commercial Banks and Select FIs) Directions 2016 – These directions were challenged before different High Court s primarily on the ground that no opportunity of being heard is envisaged to borrowers before

Authorities it was built on

Where later benches applied it

Of those, 2 referred to

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