State Bank Of India vs Rajesh Agarwal on 27 March, 2023
29. Considering the above, the impugned show cause notice dated 25th
October, 2023 and the impugned order dated 9th August, 2024, are set
aside and quashed. However, this order will not prevent the respondent
bank to take appropriate steps against the petitioners if the bank
desires in accordance with law by taking into consideration of the
Master Circulars issued by the Reserve Bank of India from time to time
and also in compliance of the orders passed by the Hon'ble Supreme
17
Court in the Case of Rajesh Agarwal (supra) and Amit Iron Private
Limited (supra).