Declaration of a borrower as a wilful defaulter by Committee after giving reasons for such classification was fair and just: HC

Declaration of a borrower as a wilful defaulter by Committee after giving reasons for such classification was fair and just: HC

March 02, 2022
FEMA amp; BANKING : Where petitioner directors of borrower company were declared wilful defaulter by Committee for identification of wilful default and reasons for classifying petitioners as 'Wilful Defaulter' was communicated to petitioners and opportunity was also provided to petitioners to submit their representation before Grievances Redressal Committee, decision of both committees was in consonance with principles of natural justice

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