https://www.taxtmi.com/caselaws?id=413646 The court held that the petitioners, as guarantors, could be classified as wilful defaulters even after the company was absolved of its liability. The Review Committee's decision was found to be reasoned and based on substantial evidence of fund diversion. The suppression of material facts by the petitioners further justified the dismissal of the writ petition. The court dismissed the writ petition without any order as to costs. en-us Fri, 29 Jan 2021 00:00:00 +0530 Sat, 20 Nov 2021 12:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413646 The court held that the petitioners, as guarantors, could be classified as wilful defaulters even after the company was absolved of its liability. The Review Committee's decision was found to be reasoned and based on substantial evidence of fund diversion. The suppression of material facts by the petitioners further justified the dismissal of the writ petition. The court dismissed the writ petition without any order as to costs. Case-Laws Indian Laws Fri, 29 Jan 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413646