State Bank Of India vs Amit Iron Private Limited

The Supreme Court examined the principles of natural justice in the context of classification of bank accounts as 'fraud accounts' under RBI directions. The Court considered whether borrowers are entitled to a personal hearing before such classification and whether they have access to forensic audit reports. It emphasized the flexible nature of natural justice and the importance of fair procedures in banking regulations. The judgment underscores the balance between regulatory authority and borrower rights, ultimately affirming procedural fairness.