The Supreme Court of India (“Supreme Court”) in the case of State Bank of India vs. Amit Iron Private Limited has clarified that borrowers do not have a vested right to a personal or oral hearing before their loan accounts are classified as fraud under the fraud directions issued by the Reserve Bank of India (“RBI”).
Please click here to read the full article by Hormuz Mehta, Partner, Ahsan Allana, Principal Associate, and Kunal Bilaney, Associate, published in Mondaq.
Hormuz is a Partner in Disputes Practice Area with a specialization in white collar crimes, penal laws, cross-border crimes, criminal investigations and general corporate criminal disputes.