Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
Omitted specified domestic transaction provision invalidates related-party expenditure transfer-pricing references and assessments based on consequent...
Preventive suspension requires an immediate continuing threat and cannot become indefinite without inquiry, fresh evidence, or proportionate safeguard...
Writ petition allowed. Impugned order by respondent bank declaring petitioner as 'fraud' set aside for lack of due process. No show cause notice issued to petitioner proposing fraud classification. Petitioner not informed about upload on RBI's Central Fraud Registry. No relevant documents like forensic audit report supplied. No hearing afforded before fraud declaration on 20.06.2019. Supreme Court in State Bank of India vs. Rajesh Agarwal held principles of natural justice must be followed while enforcing RBI's Master Directions on Fraud. Civil consequences jeopardize borrower's business future, necessitating hearing before declaring ineligibility for institutional finance under Clause 8.12.1. Impugned order quashed for violating natural justice.
Writ petition allowed. Impugned order by respondent bank declaring petitioner as 'fraud' set aside for lack of due process. No show cause notice issued to petitioner proposing fraud classification. Petitioner not informed about upload on RBI's Central Fraud Registry. No relevant documents like forensic audit report supplied. No hearing afforded before fraud declaration on 20.06.2019. Supreme Court in State Bank of India vs. Rajesh Agarwal held principles of natural justice must be followed while enforcing RBI's Master Directions on Fraud. Civil consequences jeopardize borrower's business future, necessitating hearing before declaring ineligibility for institutional finance under Clause 8.12.1. Impugned order quashed for violating natural justice.
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