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TMI Blog2018 (1) TMI 1488X X X X Extracts X X X X X X X X Extracts X X X X ..... er reference will be examined by the appropriate Committee in its meeting to be held on 14.12.2017. Petitioners sought adjournment as they were not in a position to attend the proceedings on 14.12.2017. The Committee adjourned the date twice. As on today, petitioners are yet to appear before the Committee to pursue their representation in respect of certain documents. It is for the Committee to apply its mind in respect of supply of documents as demanded by the petitioners. The petitioners are required to appear before the Committee on the next date of hearing and as stated in the letter dated 29.11.2017, the Committee will examine the representation of the petitioners, therefore, at this stage, no interference is called for by this Cou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed Original Application u/s. 19 of Recovery of Debts Due to Banks and Financial Institutions Act, 1993 before the Debt Recovery Tribunal, Jabalpur. According to petitioners, in the said application, respondent No.1 has never made any allegation that the petitioner No.1 is a wilful defaulter. The petitioners are contesting the said application by filing reply as well as counter claim. After a period of 4 years from the date of declaring petitioner No.1 s account as NPA, respondent No.1 issued the show-cause notice dated 19.6.2017 proposing to declare petitioner No.1 as wilful defaulter. By the said showcause notice, petitioners have been given liberty to submit a representation before the respondent No.2 on the next date of hearing. 4. Af ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and material pertaining to show-cause notice dated 19.6.2017. 7. Under the Master Circular dated 1.7.2015 issued by the RBI, Clause 2.1.3 defines 'wilful default'. Clause 2.3 provides for cut-off limit for the purposes of taking cognizance. Clause 2.5 provides for penal measures. Mechanism for identification of wilful defaulters is provided under Clause 3. The Committee headed by an Executive Director or equivalent and consisting of two other senior officers of the rank of General Manager/Dy. General Manager is competent to identify the wilful defaulter and that too after giving opportunity of hearing. 8. In the present case, the Committee has issued the show-cause notice to the petitioners. In response to the said show-cause ..... X X X X Extracts X X X X X X X X Extracts X X X X
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