https://www.taxtmi.com/caselaws?id=754230 The Bombay HC quashed willful defaulter and fraud declarations against two companies. The court found that fraud declarations were issued without notice or hearing opportunities, violating natural justice principles. While show cause notices were issued for willful defaulter proceedings, the bank failed to provide supporting material to petitioners, preventing them from defending themselves adequately. The court held that both declarations breached natural justice principles and were arbitrary, warranting their quashing. The petitions were allowed in part. en-us Tue, 18 Jun 2024 00:00:00 +0530 Wed, 19 Jun 2024 22:22:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754230 The Bombay HC quashed willful defaulter and fraud declarations against two companies. The court found that fraud declarations were issued without notice or hearing opportunities, violating natural justice principles. While show cause notices were issued for willful defaulter proceedings, the bank failed to provide supporting material to petitioners, preventing them from defending themselves adequately. The court held that both declarations breached natural justice principles and were arbitrary, warranting their quashing. The petitions were allowed in part. Case-Laws Indian Laws Tue, 18 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754230