https://www.taxtmi.com/caselaws?id=465658 A fraud classification with civil consequences cannot be sustained without a prior notice of hearing, as the principles of natural justice, including audi alteram partem, are read into the RBI fraud-classification procedure. The Court found that no pre-decisional hearing had been given before the impugned classification, and this procedural defect vitiated the action. It did not examine the merits of the fraud allegations, leaving the authorities free to reconsider the matter afresh after issuing notice and hearing the affected party. The classification and consequential actions were set aside. en-us Tue, 17 Oct 2023 00:00:00 +0530 Mon, 05 Jan 2026 20:18:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465658 A fraud classification with civil consequences cannot be sustained without a prior notice of hearing, as the principles of natural justice, including audi alteram partem, are read into the RBI fraud-classification procedure. The Court found that no pre-decisional hearing had been given before the impugned classification, and this procedural defect vitiated the action. It did not examine the merits of the fraud allegations, leaving the authorities free to reconsider the matter afresh after issuing notice and hearing the affected party. The classification and consequential actions were set aside. Case-Laws Indian Laws Tue, 17 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465658