2021 (9) TMI 1491 - HC - Companies Law

Willful, intentional or deliberate defaulters - pendency of Corporate Insolvency Resolution process and passing of order of moratorium by NCLT Bench, Mumbai not considered while passing the impugned orders - order passed by the Review Committee manned by an officer different from the one who as a member of the First Committee of the Bank - HELD THAT - Issue notice for final disposal at admission stage to the respondents, returnable after four weeks.

Summary

The Bombay High Court heard a case where the impugned orders by the Identification Committee for Wilful Defaulter and Review Committee did not specify findings on willful default. The court issued notice for final disposal to respondents and granted interim stay on the impugned orders.