NITIN R. JADHAV Vs. RESERVE BANK OF INDIA

JUDGEMENT

(1.) Respondents No. 2 and 3 are represented. All other Respondents have also been served.

(2.) The Petition relates to an action of Respondents No. 2, 2(a) and 2(b), all banks, under the Reserve Bank of India Frauds (Classification and Reporting by Commercial Banks and Select FIs) Directions, 2016 ("Master Directions"). This is the subject matter of the Supreme Court decision in State Bank of India and Ors v. Rajesh Agarwal and Ors.,(2023) 6 SCC 1 : 2023 SCC OnLine 342.

(3.) The Supreme Court decision has laid down that the principles of natural justice apply in all the proceedings under these Master Directions, including a right of hearing and include, necessarily, the disclosure of relevant material. A large group of Petitions was filed before us on which we made an order on 19/6/2023. We did not stay the Master Directions and we have clarified that. Every one of those Petitions, as the present Petition too, complained of a violation of the principles of natural justice.