Supreme Court ruling could improve accountability in loan fraud cases3 min read 31 Mar 2023, 02:20 PM IST
By saying that borrowers must get a chance to defend themselves before having their accounts frozen on fraud charges, the court has offered the government a chance to strengthen corporate governance and include more safeguards in state-owned banks
The Punjab National Bank fraud case featuring Nirav Modi and his uncle Mehul Choksi – both of whom fled India – was first reported more than six years ago. It triggered a chain of events, including the labelling of hundreds of loan accounts as fraudulent.
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