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Banks to review fraud tag if companies move court

Banks in India will not provide a personal hearing to companies before classifying them as fraud accounts, but will re-evaluate the decision if legally challenged. The procedure, which aims to codify the steps to classify companies with outstanding loans of ₹50 crore or more as fraud accounts, follows a Supreme Court direction in March 2023 to provide a hearing to borrowers before such a step is taken. Some bankers and legal experts believe the procedure may lead to court disputes. ....

Zulfiquar Memon , Indian Bank Association , Juris Corp , Supreme Court , Large Credits , Fraud Tag , Fraud Classification , Indian Bank , Bank Labelling , Wilful Defaulter ,

Banks' fraud account classification faces legal challenges: No personal hearings, potential court battles ahead

Banks in India will not provide a personal hearing to companies before classifying them as fraud accounts, but will re-evaluate the decision if legally challenged. The procedure, which aims to codify the steps to classify companies with outstanding loans of ₹50 crore or more as fraud accounts, follows a Supreme Court direction in March 2023 to provide a hearing to borrowers before such a step is taken. Some bankers and legal experts believe the procedure may lead to court disputes. ....

Zulfiquar Memon , Juris Corp , Indian Bank Association , Supreme Court , Large Credits , Fraud Tag , Fraud Classification , Indian Bank , Bank Labelling , Wilful Defaulter ,

Govt approves $2.7-billion Micron's chip plant; unit expected to create 5,000 jobs

The government has cleared US-based chip maker Micron's project to set up a semiconductor test and packaging unit worth $2.7 billion in the country, according to sources. ....

Ministry Of Electronics , Tata Group , Bombay High Court , Sahasra Semiconductors , Expert Group , Finance Commission Chairman , High Court , Reserve Bank , Fraud Classification ,

Bombay HC Puts a Halt to Bank Actions under RBI Circular on Fraudulent Accounts

HC Stresses the Importance of Fair Procedures & Natural Justice in RBI s Circular on Fraudulent Accounts ....

Justice Gautams Patel , Justice Nilak Gokhale , Naresh Goyal , Bombay High Court , Jet Airways , Fair Procedures , Natural Justice , Fraudulent Accounts , Reserve Bank , First Information Reports , Fraud Classification , Commercial Banks , Central Fraud Registry ,

Welcome To IANS Live - NATION - Supreme Court rejects stay of Telangana Judgment on Fraud Classification as per RBI Circular

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IANSLive
New Delhi, April 19 (IANS) In a setback to SBI and RBI, the Supreme Court has refused to stay the judgment dated December 10, 2020 of a Division Bench of the Telangana High Court, in appeals filed by SBI and RBI.
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Update: 19-April-2021 ....

Andhra Pradesh , New Delhi , Division Bench Of The Telangana High Court , Supreme Court , News Service , India Private , Telangana Judgment , Fraud Classification , Division Bench , Telangana High Court , All Rights , ஆந்திரா பிரதேஷ் , புதியது டெல்ஹி , பிரிவு பெஞ்ச் ஆஃப் தி தெலுங்கானா உயர் நீதிமன்றம் , உச்ச நீதிமன்றம் , செய்தி சேவை , இந்தியா ப்ரைவேட் , மோசடி வகைப்பாடு , பிரிவு பெஞ்ச் , தெலுங்கானா உயர் நீதிமன்றம் , அனைத்தும் உரிமைகள் , கடன் வழங்குநர்கள் ,