The Bombay High Court has mandated Bank of Baroda to refund ₹1.24 crore to PNP Polytex Pvt Ltd, a Mumbai-based firm, following a SIM-swap fraud incident that occurred in January 2020. The court determined that the customer had 'zero liability' since the fraud was promptly reported, aligning with the Reserve Bank of India's (RBI) July 6, 2017 circular regarding unauthorized electronic banking transactions. The court noted that the burden of proof lies with the bank to demonstrate customer fault, emphasizing that once a fraud is reported, the bank must credit the customer's account. The bank's defense, claiming adherence to security protocols, was dismissed as inadequate, highlighting that such measures fail when a SIM is fraudulently replaced. The court also referenced a previous ruling involving HDFC Bank, reinforcing that banks cannot evade liability when customers do not receive transaction alerts due to SIM swaps. The bank is required to refund the remaining amount with 6% interest from the date of the complaint within eight weeks, after accounting for the ₹47.8 lakh that was successfully blocked.