https://www.taxtmi.com/caselaws?id=764894 A writ petition against a private sector bank was held maintainable where a wilful defaulter declaration had direct civil, reputational and business consequences affecting rights under Article 19(1)(g). The court found that the show cause notice and consequential orders were vitiated because the borrower was not supplied the material underlying the transaction audit report, despite repeated requests, so the opportunity to respond was not meaningful. A personal hearing without disclosure was held insufficient to satisfy natural justice. The notice and wilful defaulter orders were quashed, with liberty to commence fresh proceedings after proper disclosure and compliance with fair procedure. en-us Thu, 16 Jan 2025 00:00:00 +0530 Mon, 20 Jan 2025 20:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764894 A writ petition against a private sector bank was held maintainable where a wilful defaulter declaration had direct civil, reputational and business consequences affecting rights under Article 19(1)(g). The court found that the show cause notice and consequential orders were vitiated because the borrower was not supplied the material underlying the transaction audit report, despite repeated requests, so the opportunity to respond was not meaningful. A personal hearing without disclosure was held insufficient to satisfy natural justice. The notice and wilful defaulter orders were quashed, with liberty to commence fresh proceedings after proper disclosure and compliance with fair procedure. Case-Laws Companies Law Thu, 16 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764894