https://www.taxtmi.com/caselaws?id=302997 The court emphasized the importance of following the Reserve Bank Master Circular on willful defaulters by a nationalized bank, highlighting the need for a fair procedure and providing borrowers with opportunities to defend against such classification. The judgment set aside the preliminary opinion to classify the petitioners as willful defaulters due to insufficient reasons or evidence provided, directing the bank to proceed afresh in accordance with the Circular. The court clarified that its decision did not favor the petitioners but allowed the bank to gather necessary evidence for classification, ultimately granting the writ petition without costs. en-us Tue, 06 Aug 2013 00:00:00 +0530 Tue, 28 Jun 2022 18:15:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302997 The court emphasized the importance of following the Reserve Bank Master Circular on willful defaulters by a nationalized bank, highlighting the need for a fair procedure and providing borrowers with opportunities to defend against such classification. The judgment set aside the preliminary opinion to classify the petitioners as willful defaulters due to insufficient reasons or evidence provided, directing the bank to proceed afresh in accordance with the Circular. The court clarified that its decision did not favor the petitioners but allowed the bank to gather necessary evidence for classification, ultimately granting the writ petition without costs. Case-Laws Indian Laws Tue, 06 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302997