Rajesh Agrarwal Vs Reserve Bank of India (Telangana High Court)

Last updated: 15 December 2020

Court :
Telangana High Court

Brief :
Aggrieved by the non-inclusion of principles of natural justice in theMaster Directions on Fraud (‘the Master Circular’, for short), dated01.07.2016, issued under Section 35-A of the Banking Regulation Act, 1949 by the Reserve Bank of India, aggrieved by the decision of the Joint Lenders Forum (‘the JLF’, for short) dated 15-02-2019, and aggrieved by the resolution of the Fraud Identification Committee (‘FIC’, for short) dated 31.07.2019, whereby both the JLF and the FIC have classified the account ofM/s. B. S. Limited, (‘the Company’, for short), of which the petitioner was the former Chairman and Managing Director, as ‘fraud’ and ‘willful defaulter’, the petitioner, Mr. Rajesh Agarwal, has approached this Court.

Citation :
Writ Petition No. 19102 of 2019