NILLESH PARREKH Vs. RESERVE BANK OF INDIA

JUDGEMENT

(1.) The petitioner has filed writ petition WPO 2768 of 2022 on 28/9/2022 and WPO 772 of 2023 on 29/3/2023. The first petition was filed challenging a show-cause notice issued by the respondent Union Bank of India on 27/6/2022 and an order passed by the Identification Committee of the said Bank on 8/9/2022. The second writ petition was filed thereafter challenging an order dtd. 28/2/2023 of the Review Committee of the Bank. Since the basis of challenge to the show-cause notice as well as the two orders are factually similar, both the writ petitions are being disposed of by this judgment.

(2.) Learned counsel for the petitioner submits that the impugned order of the Identification Committee dtd. 8/9/2022 was passed in violation of the principles of natural justice. Counsel submits that the Bank proceeded to pass the impugned order without furnishing copies of the documents referred to in the show-cause notice to the petitioner. Counsel submits that since the order of the Identification Committee dtd. 8/9/2022 is vitiated, the order passed by the Review Committee thereafter on 28/2/2023 should also be quashed and set aside.

(3.) Learned counsel appearing for the respondent Union Bank of India refers to the show-cause notice, the order of the Identification Committee and the order of the Review Committee to refute the charge of breach of principles of natural justice. Counsel submits that the Bank followed the dispute redressal mechanism under the Master Circular issued by the Reserve Bank of India and that the petitioner was given sufficient notice and to make a representation to the show-cause notice and also to appear for personal hearing. Counsel submits that the argument of the petitioner not being supplied with relevant documents is factually incorrect since the "Forensic Audit Report" and the "CDR proceedings" were not referred to in the show-cause notice and hence the question of making these documents available to the petitioner did not arise.