https://www.taxtmi.com/caselaws?id=407339 A fraud classification framework with grave civil and penal consequences must be read consistently with natural justice where it does not expressly exclude a hearing. Prior disclosure of the relied-upon reports and a reasonable pre-decisional opportunity to respond were required before classifying the borrower's account as fraud. Because the borrower was not furnished the complete material and no effective hearing was given, the Joint Lenders Forum's fraud classification and the Fraud Identification Committee's confirmation were unsustainable. The fraud classification process was therefore set aside and reconsideration was directed after disclosure of the reports and a personal hearing to the affected parties. en-us Thu, 10 Dec 2020 00:00:00 +0530 Fri, 07 May 2021 08:05:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407339 A fraud classification framework with grave civil and penal consequences must be read consistently with natural justice where it does not expressly exclude a hearing. Prior disclosure of the relied-upon reports and a reasonable pre-decisional opportunity to respond were required before classifying the borrower's account as fraud. Because the borrower was not furnished the complete material and no effective hearing was given, the Joint Lenders Forum's fraud classification and the Fraud Identification Committee's confirmation were unsustainable. The fraud classification process was therefore set aside and reconsideration was directed after disclosure of the reports and a personal hearing to the affected parties. Case-Laws Companies Law Thu, 10 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407339