https://www.taxtmi.com/caselaws?id=447678 The writ petition was treated as an attempt to delay insolvency proceedings after the borrower failed to honour a court-linked settlement commitment. The record showed repeated borrowing despite prior defaults and NPA status, while the banks had extended further facilities without proper due diligence, credit appraisal, adequate security, or effective post-disbursement monitoring. The Court noted possible non-compliance with RBI fraud-reporting directions and the need to protect public funds and farmers' dues. On these facts, it found a serious case of fraud and connivance warranting CBI investigation, with liberty to examine possible money-laundering aspects and a direction that the petitioner cooperate. en-us Tue, 12 Dec 2023 00:00:00 +0530 Wed, 03 Jan 2024 08:13:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=447678 The writ petition was treated as an attempt to delay insolvency proceedings after the borrower failed to honour a court-linked settlement commitment. The record showed repeated borrowing despite prior defaults and NPA status, while the banks had extended further facilities without proper due diligence, credit appraisal, adequate security, or effective post-disbursement monitoring. The Court noted possible non-compliance with RBI fraud-reporting directions and the need to protect public funds and farmers' dues. On these facts, it found a serious case of fraud and connivance warranting CBI investigation, with liberty to examine possible money-laundering aspects and a direction that the petitioner cooperate. Case-Laws Indian Laws Tue, 12 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=447678