https://www.taxtmi.com/caselaws?id=279731 The Court set aside the declaration of the Petitioners as "Willful Defaulters" by the Bank, citing violations of RBI guidelines and principles of natural justice. The Court found that the Bank failed to provide the Identification Committee's order to the Petitioners and the Review Committee's decision lacked sufficient reasoning. Consequently, the Court granted liberty to the Bank to initiate fresh proceedings in adherence to RBI guidelines and principles of natural justice, ruling in favor of the Petitioners. en-us Thu, 12 Jul 2018 00:00:00 +0530 Wed, 03 Apr 2019 05:57:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=279731 The Court set aside the declaration of the Petitioners as "Willful Defaulters" by the Bank, citing violations of RBI guidelines and principles of natural justice. The Court found that the Bank failed to provide the Identification Committee's order to the Petitioners and the Review Committee's decision lacked sufficient reasoning. Consequently, the Court granted liberty to the Bank to initiate fresh proceedings in adherence to RBI guidelines and principles of natural justice, ruling in favor of the Petitioners. Case-Laws Indian Laws Thu, 12 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=279731