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27. He places reliance on the decision of State of Bihar v. L.K. Advani, (2003) 8 SCC 361, to contend that principles of natural justice must be followed when the report has serious consequences for the reputation of an individual. He submits that the report of forensic auditor has arrived at conclusions of alleged fraud and siphoning of funds, that adversely affects the reputation of an individual or entity.

68. The petitioners' reliance on the decision of the Hon'ble Supreme Court in L.K. Advani (supra) is misplaced since the said decision was in the backdrop of the Commissions of Inquiry Act, 1952. Under the said Act, there is a specific provision in the form of Section 8-B which mandates that persons likely to be prejudiced by the report of the commission shall be afforded a reasonable opportunity to be heard and produce evidence in their defence. Furthermore, the inquiry itself under the said statute is a statutory function of the Commission, which culminates into a report, which was made public in the said case. In contrast, the forensic audit report is not to be made public, rather the same is only for the purpose of assisting the lender bank(s) to arrive at an informed decision.