Dismissed

Bharat Valia v. State Bank of India

Bombay HC25 Jun 2024WP/1217/2024

Case brief

AI extract

What is this about?

The Bombay HC found the petitioner's grievance redressed as the State Bank of India reversed her fraud account classification. The court clarified the bank retains the right to initiate fresh proceedings strictly adhering to the RBI Master Circular of July 15, 2024 and the Supreme Court's Rajesh Agarwal judgment. Consequently, the writ petition was disposed of without costs.

What did the court decide?

The writ petition is dismissed with no order as to costs.

Bharat Valia vs State Bank of India — Banking and Recovery | Bombay HC (2024)

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6 wp 1217-24.doc

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IN THE HIGH COURT OF JUDICATURE AT BOMBAY ORDINARY ORIGINAL CIVIL JURISDICTION

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WRIT PETITION NO. 1217 OF 2024

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LAXMI SUBHASH SONTAKKE

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Digitally signed by LAXMI SUBHASH SONTAKKE Date: 2024.09.24 16:45:11 +0530

Bharat Valia

Versus

.. Petitioner

State Bank of India & Ors. .. Respondents

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Adv. Jaideep Singh Khattar a/w Rohit Balani i/b. The Fort Circle for the Petitioner.

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Adv. Harihar Bhave a/w Jaanam Bambori i/b. Bhave & Co. for the Respondent No.1.

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CORAM:	B. P. COLABAWALLA &
	FIRDOSH P. POONIWALLA, JJ.
DATE:	SEPTEMBER 23, 2024

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P. C.

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The learned Counsel appearing for State Bank of India (SBI) states that State Bank of India has already reversed the classification of the Petitioner as a “Fraud” account as the Bank has realized that it has not followed the procedure as contemplated in the Master Circular of Reserve Bank of India dated 1^st July, 2016 read with the decision of the Hon’ble Supreme Court in the case of State Bank of India and Others Vs. Rajesh Agarwal and Others [(2023) 6 SCC 1].

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Page 1 of 2 SEPTEMBER 23, 2024

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Laxmi

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6 wp 1217-24.doc

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Once this is the statement made, we find that the grievance raised in the above Writ Petition is duly redressed.

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We make it clear that SBI is free to adopt fresh proceedings for declaring the Petitioner’s account as a “Fruad” account by strictly following the Master Circular [on declaration of Fraud account] dated 15^th July, 2024 read with the Judgment of the Honble Supreme Court in Rajesh Agarwal (supra).

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The above Writ Petition is accordingly disposed of. No order as

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to costs.

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This order will be digitally signed by the Private Secretary/ Personal Assistant of this Court. All concerned will act on production by fax or email of a digitally signed copy of this order.

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[FIRDOSH P. POONIWALLA, J.] [B. P. COLABAWALLA, J.]

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Page 2 of 2 SEPTEMBER 23, 2024

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Laxmi

Bharat Valia v. State Bank of India

Case brief

What is this about?

What did the court decide?

Bharat Valia v. State Bank of India

Case brief

What is this about?

What did the court decide?

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