https://www.taxtmi.com/caselaws?id=799824 Fraud-classification action based on an inconclusive forensic audit cannot be sustained merely because the borrower responds to the show-cause notice. Where the audit relies on limited lender-supplied material, is expressly qualified pending production of complete records, and has already proved unreliable for equivalent action, it lacks a sufficient evidentiary foundation. This applies particularly where records are unavailable following insolvency and liquidation and the bank has not sought them from the liquidator or investigating authority. The notice and consequential fraud-reporting measures were set aside, without preventing fresh action supported by conclusive evidence. en-us Thu, 24 Sep 2026 00:00:00 +0530 Mon, 28 Sep 2026 08:12:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799824 Fraud-classification action based on an inconclusive forensic audit cannot be sustained merely because the borrower responds to the show-cause notice. Where the audit relies on limited lender-supplied material, is expressly qualified pending production of complete records, and has already proved unreliable for equivalent action, it lacks a sufficient evidentiary foundation. This applies particularly where records are unavailable following insolvency and liquidation and the bank has not sought them from the liquidator or investigating authority. The notice and consequential fraud-reporting measures were set aside, without preventing fresh action supported by conclusive evidence. Case-Laws IBC Thu, 24 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799824