https://www.taxtmi.com/caselaws?id=313373 A wilful defaulter classification must be made and reviewed in a reasoned manner under the RBI Master Circular, with consideration of the borrower's track record and the material relied on. The Court treated later approval of a resolution plan in insolvency proceedings as a supervening development that could furnish a fresh cause of action and require reconsideration of the classification. The challenge was therefore not rejected on delay alone, and the review committee was directed to reassess the matter in light of the governing circular and the subsequent insolvency event, leaving the substantive questions open for fresh determination. en-us Tue, 22 Dec 2020 00:00:00 +0530 Tue, 09 Apr 2024 18:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313373 A wilful defaulter classification must be made and reviewed in a reasoned manner under the RBI Master Circular, with consideration of the borrower's track record and the material relied on. The Court treated later approval of a resolution plan in insolvency proceedings as a supervening development that could furnish a fresh cause of action and require reconsideration of the classification. The challenge was therefore not rejected on delay alone, and the review committee was directed to reassess the matter in light of the governing circular and the subsequent insolvency event, leaving the substantive questions open for fresh determination. Case-Laws Companies Law Tue, 22 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313373