https://www.taxtmi.com/caselaws?id=199557 The moratorium under section 45 of the Banking Regulation Act, 1949 was sustained because the Reserve Bank formed its expert satisfaction on relevant material showing asset erosion, inadequate provisioning, and weakness in management and operations, and the Central Government considered that material before issuing the order. Judicial review did not permit the court to reappraise the banking data or substitute its own view for the regulator's assessment of financial soundness and depositor protection. Allegations of arbitrariness, mala fides, and breach of natural justice were rejected, as urgent banking action could justify modification of prior hearing. The challenge failed and the petitions were dismissed. en-us Wed, 05 Mar 1997 00:00:00 +0530 Tue, 06 Mar 2018 17:21:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=199557 The moratorium under section 45 of the Banking Regulation Act, 1949 was sustained because the Reserve Bank formed its expert satisfaction on relevant material showing asset erosion, inadequate provisioning, and weakness in management and operations, and the Central Government considered that material before issuing the order. Judicial review did not permit the court to reappraise the banking data or substitute its own view for the regulator's assessment of financial soundness and depositor protection. Allegations of arbitrariness, mala fides, and breach of natural justice were rejected, as urgent banking action could justify modification of prior hearing. The challenge failed and the petitions were dismissed. Case-Laws Companies Law Wed, 05 Mar 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=199557