Principle of Audi Alteram Partem
On 27th March, 2023, the Supreme Court (SC) held that the banks must hear borrowers before classifying an account as ‘fraud’.
- The court was hearing the civil appeals arising out of a challenge to the Reserve Bank of India (Frauds Classification and Reporting by Commercial Banks and Select FIs) Directions 2016. These directions were challenged before different High Courts primarily on the ground that no opportunity of being heard is envisaged by borrowers before classifying their accounts as fraudulent.
About the Verdict
- The SC upheld the Telangana High Court’s decision (December, 2020) that the principles of natural justice must be read ....
Do You Want to Read More?
Subscribe Now
Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material before the last six months of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
- 1 ‘Eggshell Skull’ Rule
- 2 Copyright Infringement in India
- 3 National Centre for Good Governance (NCGG)
- 4 Advance Pricing Agreements
- 5 Doctrine of Lis Pendens under Transfer of Property Act, 1882
- 6 NHRC’s ‘Statutory Full Commission’ Meeting
- 7 Provision of Chargesheet under CrPC
- 8 District Election Management Plan
- 9 Ladakh’s Demand for Inclusion in Sixth Schedule
- 10 Electoral Trusts
