Lender Banks to Provide Audit Reports to Borrowers to allow Representation before Classification of Accounts as Fraud: Gujarat HC [Read Order]

Lender banks to provide audit reports to borrowers to allow representation before classification of accounts as fraud, rules Gujarat HC
By Kalyani B. Nair - On April 1, 2024 12:20 pm - 2 mins read
Gujarat High Court - Lender Banks - Audit Reports - Banking audits - Fraud bank account - taxscan

The Gujarat High Court recently observed that the lender banks to provide audit reports to borrowers to allow representation before classification of accounts as fraud. It is the case of the petitioners that meetings were convened on 18.08.2020 and 29.09.2020 and during that period, forensic audit reports dated 11.08.2020 and 18.09.2020 were discussed. Also, issues…

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