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HomeCompany & PMLACalcutta High Court Quashes PNB Fraud Classification Based on Audit Report Discredited...

Calcutta High Court Quashes PNB Fraud Classification Based on Audit Report Discredited by Insolvency Tribunals

Company & PMLA

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By Mariya Paliwala
Calcutta High Court Quashes PNB Fraud Classification Based on Audit Report Discredited by Insolvency Tribunals

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The Calcutta High Court has quashed the fraud classification proceedings initiated by Punjab National Bank against the promoters of a company undergoing liquidation, holding that the bank failed to comply with the principles of natural justice and improperly relied upon a transaction audit report that had already been discredited by insolvency tribunals.  The bench of…

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Mariya Paliwala
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

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