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2022 (9) TMI 1633 - HC - Companies LawWilful defaulter - delayed intimation of order of Identification Committee - alternative remedy of approaching Review Committee in terms of the Master Circular on Wilful Defaulters dated 01st July, 2015 issued by Reserve Bank of India - enlargement of time to avail the said remedy - HELD THAT - It emerges that Petitioner s resignation from directorship of MBIL is not a disputed fact. Petitioner was not a party to the proceedings before DRT is also uncontroverted. Thus, there is an error in the list published on Respondent No. 2 s website. Accordingly, Respondent Bank is directed to send an intimation to Respondent No. 2 for updating the said list by deleting the name of Petitioner from the list of directors/ suit filed accounts defaulters within a period of two weeks from today. Respondent No. 2 shall then update the list forthwith. With respect to order dated 19th August, 2022, the Court has not expressed any opinion thereon, and all rights and contentions of the parties are left open - the time period for approaching the Review Committee is enlarged by a period of 15 days from today. Petition disposed off.
Issues:
1. Delay in intimation of order by Identification Committee. 2. Erroneous mention of petitioner's name in list of defaulters. 3. Remedies sought by the petitioner. 4. Discrepancy in the description of the list of defaulters. 5. Inclusion of petitioner's name in the list of defaulters. 6. Petitioner's resignation from directorship and its implications. 7. Error in the list published on Respondent No. 2's website. 8. Direction to update the list of defaulters. 9. Court's opinion on the order dated 19th August, 2022. 10. Enlargement of time period for approaching the Review Committee. Analysis: 1. The judgment addresses the issue of delay in intimation of the order by the Identification Committee, confirming the petitioner as a 'wilful defaulter'. The petitioner raised concerns over the unfair delay in communication of the order, seeking an extension of time to approach the Review Committee as per the Master Circular. The court acknowledged the delay and granted an enlargement of time for the petitioner to avail the remedy. 2. Another issue highlighted was the erroneous mention of the petitioner's name in the list of defaulters published on TransUnion CIBIL Limited's website. The petitioner sought writs to remove the name and false information against them. The court noted the discrepancy in the description of the list and directed the Respondent Bank to rectify the error and update the list accordingly. 3. The judgment delves into the petitioner's resignation from directorship and its implications on being included in the list of defaulters. It was established that the petitioner had resigned from directorship, and there was an error in including their name in the list. The court directed the Respondent Bank to inform TransUnion CIBIL Limited to remove the petitioner's name from the list within a specified timeframe. 4. The court clarified that it did not express any opinion on the order dated 19th August, 2022, leaving all rights and contentions of the parties open for further proceedings. Additionally, the time period for approaching the Review Committee was extended by 15 days from the date of the judgment. Finally, the petitions were disposed of with the specified directions, and a copy of the order was to be provided promptly.
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