NEW DELHI: The Supreme Court on Wednesday sought responses from the Union government and the Reserve Bank of India on why criminal cases are not being filed against industrialists and corporate houses who have been found to have indulged in bank frauds and defaulted in repaying loans worth crores of rupees.
A bench of Justices Sanjay Kishan Kaul, Abhay S Oka and Vikram Nath said it was of the view that the Centre and the RBI are required to file affidavits on their stands on the issue. This came after advocate Prashant Bhushan contended that the apex bank had itself in 2016 issued a circular, making it mandatory for banks to file complaints before law enforcement agencies after detection of a fraud, but this was not being implemented.
