<h1>Industrialist's challenge to bank's fraud classification and criminal complaint over alleged Rs 2,929.05 crore loss dismissed</h1> The Bombay High Court dismissed a petition by an industrialist challenging a major bank's classification of his and a telecom company's accounts as fraud, finding no merit in the challenge. The bank had designated the accounts fraudulent, alleging misappropriation and transactions breaching loan terms, and later filed a criminal complaint with the central investigative agency alleging a loss of Rs 2,929.05 crore; searches were conducted at premises linked to the industrialist and the company. The petitioner contended the bank violated principles of natural justice by not providing a hearing and by initially withholding key documents, which were furnished months later.