JUDGMENT :

BHARGAV D. KARIA, J.

1. Heard learned advocate Mr. Jaimin R. Dave for the petitioners and learned advocate Mr. K.M. Parikh for the respondent-bank.

2. Rule. Learned advocate Mr. K.M. Parikh waives service of rule for respondent-bank.

3. By this petition under Article of the 226 of the Constitution of India, the petitioners have challenged the action of the Committee of the Executives of Willful Defaulters (Identification Committee) and the Review Committee of the respondent–Bank of India identifying the account of the petitioners as willful defaulter and subsequent reporting of the name of the petitioners to Reserve Bank of India/CIBIL as willful defaulter.

4. It is the case of the petitioners that the petitioners were informed about the decision of declaring the petitioners as willful defaulter vide communication dated 22nd April, 2019. The facts leading to the declaration of the petitioners as willful defaulter are as under:

4.1) On 13th September, 2011, the petitioners no. 2 to 4, incorporated a company with one Mr. Ruchir Mittal in the name and style of Raghav Madhav Filaments Pvt. Ltd. The petitioners are the Directors of M/s. Raghav Madhav Filaments Pvt. Ltd.

4.2) The res