Declaration of bodies corporate, their promoters and directors, ...

Case Laws Indian Laws

March 9, 2024

Declaration of bodies corporate, their promoters and directors, as “wilful defaulters” - Lack of transparency and due process in the Union Bank's procedure for declaring the petitioner a wilful defaulter - The High Court concluded by allowing Union Bank to withdraw its previous orders regarding the petitioner's status as a wilful defaulter and mandated a redo of the proceedings with proper disclosure and adherence to due process, thereby setting guidelines for future proceedings under the RBI's Master Circular on Wilful Defaulters.

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Declaration of bodies corporate, their promoters and directors, ...

Case Laws Indian Laws

March 9, 2024

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