BOMBAY HIGH COURT STAYS BANK ACTION AFTER SC RULES OPPORTUNITY OF HEARING TO BORROWERS BEFORE CLASSIFYING THEIR ACCOUNTS AS FRAUD MANDATORY The court relied on the judgment of supreme court that read the principles of natural justice into RBI’s direction on fraud. The SC noted that blacklisting borrower’s account without hearing them once would debar them from accessing loans from financial institutions. Therefore, to avoid such loss, principles of natural justice have to be followed. With a team of Commercial Law experts, Reddy & Reddy Law Firm has extensive experience and involvement in commercial disputes, including Insolvency Proceedings. We are regularly involved in representations before NCLT, NCLAT, DRT and other commercial tribunals in India.