https://www.taxtmi.com/caselaws?id=377950 The court upheld the respondents' decision to declare the petitioners as 'wilful defaulters' under the RBI Master Circular. The court found the petitioners' arguments lacking merit, emphasizing the lender-borrower relationship established through non-fund-based credit facilities, procedural fairness of the Identification and Review Committees, and denial of representation through legal professionals. The petitioners were advised to pursue the One Time Settlement offer within Debt Recovery Tribunal proceedings. No costs were awarded. en-us Mon, 11 Mar 2019 00:00:00 +0530 Fri, 05 Apr 2019 09:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=377950 The court upheld the respondents' decision to declare the petitioners as 'wilful defaulters' under the RBI Master Circular. The court found the petitioners' arguments lacking merit, emphasizing the lender-borrower relationship established through non-fund-based credit facilities, procedural fairness of the Identification and Review Committees, and denial of representation through legal professionals. The petitioners were advised to pursue the One Time Settlement offer within Debt Recovery Tribunal proceedings. No costs were awarded. Case-Laws Companies Law Mon, 11 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=377950