https://www.taxtmi.com/caselaws?id=784806 A non-whole time director cannot be classified as a wilful defaulter unless the exceptional conditions in Clause 3(d) of the RBI Master Circular are affirmatively shown on the record. The materials did not establish that the petitioner was a promoter; the record instead indicated non-executive director status, and the bank produced no independent proof of promoter role. Nor was there evidence of board minutes, awareness of default, consent, connivance, or other supporting material required for Clause 3(d). The Review Committee also failed to address the jurisdictional objection or give meaningful reasons. The wilful defaulter declaration was set aside and the CIC listing was directed to be reversed. en-us Fri, 09 Jan 2026 00:00:00 +0530 Tue, 13 Jan 2026 08:29:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784806 A non-whole time director cannot be classified as a wilful defaulter unless the exceptional conditions in Clause 3(d) of the RBI Master Circular are affirmatively shown on the record. The materials did not establish that the petitioner was a promoter; the record instead indicated non-executive director status, and the bank produced no independent proof of promoter role. Nor was there evidence of board minutes, awareness of default, consent, connivance, or other supporting material required for Clause 3(d). The Review Committee also failed to address the jurisdictional objection or give meaningful reasons. The wilful defaulter declaration was set aside and the CIC listing was directed to be reversed. Case-Laws Indian Laws Fri, 09 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784806