Revisiting regulations

Rules should not bypass the principles of natural justice

One of the reasons why India is said to be better placed to deal with the global economic slowdown is that the balance sheets of banks have improved significantly over the last few years. This has been possible through comparatively strong regulatory oversight and efforts on the part of the banks in terms of cleaning up their balance sheets and raising capital. However, while the process has worked well for banks, it appears that some borrowers may not have been treated fairly during the course. This was reflected in an important judgment delivered by a Supreme Court Bench of Chief