New Delhi [India], September 25 (ANI): The Bombay High Court has quashed the Bank of India's decision declaring Jet Airways owner Naresh Goyal's account as "fraud".

The order issued by Justice R. I. Chagla has also quashed all consequent actions of having declared Goyal's account as fraudulent, which includes reporting to any Central agency.

Goyal had moved a plea in the Bombay High Court, challenging Bank of India's decision to classify Jet Airways' borrower's account owned by Naresh Goyal as fraudulent.

"Such classification is violative of the principles of natural justice and arbitrary, as it was done without giving Goyal any opportunity of being heard", the pleas stated.

The plea also contends that the 'fraud' classification leads to restraining the borrower, Jet Airways and its fo

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