U/SC/0308/2023
D.Y. Chandrachud#Hima Kohli#2164SC3160Judgment/OrderAIR#BC#CompCas#ILR (Kerala)#INSC#MANU#SCALE#SCC#SCRD.Y. Chandrachud,Banks#BanksSUPREME COURT OF INDIA2023-3-2816910,16916,16918,27067,997,1224,773759,30493,16908,137905,44298,43818 -->
MANU/SC/0308/2023
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IN THE SUPREME COURT OF INDIA
Civil Appeal Nos. 7300 of 2022, 7301 of 2022, 7302 of 2022, 7303 of 2022, 7304 of 2022, 7305 of 2022, 7306 of 2022, 7307 of 2022 and Writ Petition No. 138 of 2022
Decided On: 27.03.2023
Appellants: State Bank of India and Ors. Vs. Respondent: Rajesh Agarwal and Ors. ..(+)
Hon'ble Judges/Coram:
Dr. D.Y. Chandrachud, C.J.I. and Hima Kohli JUDGMENT
Dr. D.Y. Chandrachud, C.J.I.
| A. | Background |
| B. | Facts |
| C. | Submissions |
| D. | Analysis |
| D.1 | Regulatory Framework |
| D.2 | Audi Alteram Partem |
| D.3 | No implied exclusion of audi alteram partem. |
| D.4 | Challenge to constitutional validity. |
| E. | Conclusion |
A. Background
1. The civil appeals arise out of a challenge to the Reserve Bank of India (Frauds Classification and Reporting by Commercial Banks and Select FIs) Directions 2016.1 Issued by the Reserve Bank of India2, these directions were challenged before different High Courts primarily on the ground that no opportunity of being heard is envisaged to borrowers before classifying their accounts as fraudulent. The High Court of Telangana has held in the impugned judgment3 tha........