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What is Validity of Bank Show Cause Notices about?
The document examines the validity of a Show Cause Notice (SCN) issued by banks without citing statutory authority or legal basis, emphasizing that such notices must derive their power from legal sources like the Banking Regulation Act or RBI guidelines. It outlines essential requirements for a valid SCN, including clear authority, disclosure of legal basis, and adherence to principles of natural justice. Case law is referenced to support the necessity of these requirements for the SCN to be sustainable in
- Author
- kartikeykumarclcdu
- Language
- EN