SC calls for speedy trials in bank loan fraud cases
New Delhi, Feb. 25 -- The Supreme Court on Tuesday called for expeditious adjudication of matters relating to banks' decisions to classify loan accounts as "fraudulent", underlining that prolonged pendency in cases involving large sums of public money and critical economic infrastructure is against public interest.
A bench comprising Chief Justice of India Surya Kant and justices BV Nagarathna and Joymalya Bagchi said that the growing backlog of petitions filed after the court's 2023 ruling in State Bank of India Vs Rajesh Agarwal was a matter of concern and required urgent steps.
In a significant push to unclog high courts grappling with such challenges, the court asked all banks to seek early hearing of pending cases and simultaneously re...
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