https://www.taxtmi.com/caselaws?id=384030 Under the Wilful Defaulters Master Circular, the Review Committee must independently consider the borrower's representation and issue a reasoned order after applying its own mind. The later declaration in Jah Developers was treated as an exposition of the existing procedure, so it applied to pending challenges to earlier review decisions. Here, the Review Committee merely repeated the Identification Committee's view, without recording reasons or meaningfully addressing the petitioners' case. The challenge was confined to the review stage, so the earlier Identification Committee stage was left undisturbed and the Review Committee's order was quashed, with the matter directed to proceed from the Identification Committee stage. en-us Tue, 16 Jul 2019 00:00:00 +0530 Sun, 04 Aug 2019 17:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=384030 Under the Wilful Defaulters Master Circular, the Review Committee must independently consider the borrower's representation and issue a reasoned order after applying its own mind. The later declaration in Jah Developers was treated as an exposition of the existing procedure, so it applied to pending challenges to earlier review decisions. Here, the Review Committee merely repeated the Identification Committee's view, without recording reasons or meaningfully addressing the petitioners' case. The challenge was confined to the review stage, so the earlier Identification Committee stage was left undisturbed and the Review Committee's order was quashed, with the matter directed to proceed from the Identification Committee stage. Case-Laws Insolvency and Bankruptcy Tue, 16 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=384030