https://www.taxtmi.com/article/detailed?id=15049 Bank classification of the borrower and guarantor as fraud was upheld as being in accordance with the Reserve Bank of India circular dated 15.07.2024; the High Court held no remedy to quash the declaration while the circular is in force. The bank had issued demand and possession notices under SARFAESI and proposed auctions; the court noted that the circular's purpose is prevention, early detection and reporting of fraud, and permitted the borrower to stop immediate auction by paying outstanding dues or to challenge the RBI circular. en-us Fri, 05 Sep 2025 08:11:20 +0530 Fri, 05 Sep 2025 08:11:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=15049 Bank classification of the borrower and guarantor as fraud was upheld as being in accordance with the Reserve Bank of India circular dated 15.07.2024; the High Court held no remedy to quash the declaration while the circular is in force. The bank had issued demand and possession notices under SARFAESI and proposed auctions; the court noted that the circular's purpose is prevention, early detection and reporting of fraud, and permitted the borrower to stop immediate auction by paying outstanding dues or to challenge the RBI circular. Articles Other Topics Fri, 05 Sep 2025 08:11:20 +0530 https://www.taxtmi.com/article/detailed?id=15049