RAHUL JUNEJA Vs. UNION OF INDIA

JUDGEMENT

(1.) In the present petition, the challenge is to the impugned order dtd. 21/9/2021 whereby the account of M/s DEE ESS Buhin Pvt. Ltd. has been stated to be declared as Fraud without giving opportunity of hearing.

(2.) Learned counsel for the petitioners submits that the grievance of the petitioners is that the accounts of the petitioners have been treated as a fraud vide order dtd. 21/9/2021 but without giving any opportunity of being heard and as per the judgment of the Hon'ble Supreme Court of India in Civil Appeal No.7300 of 2022 titled as State Bank of India and others vs. Rajesh Aggarwal and others, decided on 27/3/2023, the said order classifying an account as fraud cannot be passed without giving any opportunity of hearing.

(3.) Learned counsel for the respondents No.2 and 3 submits that the Reserve Bank of India has already decided to issue fresh instructions dtd. 24/7/2024, which provide for hearing of the account holders whose accounts are to be declared as fraud and now, fresh notice will be issued to the petitioners before passing appropriate order qua their accounts.