https://www.taxtmi.com/caselaws?id=463497 Non-supply of forensic audit reports did not vitiate wilful defaulter classification where the borrowers had already dealt with the reports in their own reply and showed awareness of the material relied on; absent demonstrable prejudice, breach of procedure did not justify relief. The review process under the RBI framework was also treated as valid because the committee recorded findings on diversion of funds and routing of funds through non-consortium accounts without permission. In writ jurisdiction, the Court would not substitute its own assessment for that of expert lender committees unless the decision was perverse, illegal, or contrary to admitted facts. The challenge to the wilful defaulter declaration was therefore rejected. en-us Mon, 02 Jan 2023 00:00:00 +0530 Thu, 04 Sep 2025 19:12:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463497 Non-supply of forensic audit reports did not vitiate wilful defaulter classification where the borrowers had already dealt with the reports in their own reply and showed awareness of the material relied on; absent demonstrable prejudice, breach of procedure did not justify relief. The review process under the RBI framework was also treated as valid because the committee recorded findings on diversion of funds and routing of funds through non-consortium accounts without permission. In writ jurisdiction, the Court would not substitute its own assessment for that of expert lender committees unless the decision was perverse, illegal, or contrary to admitted facts. The challenge to the wilful defaulter declaration was therefore rejected. Case-Laws Indian Laws Mon, 02 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463497