JUDGMENT :

1. Heard learned advocate Mr. Arjun R. Sheth for the petitioners and learned advocate Mr. K.M. Parikh for respondent no.2 and learned advocate Ms. Hiral U. Mehta for respondent no.3

2. Rule returnable forthwith. Learned advocate Mr. K.M. Parikh waives service of notice of rule on behalf of respondent no.2 and learned advocate Ms. Hiral U. Mehta waives service of notice of rule on behalf of respondent no.3

3. By this petition under Article 226 of the Constitution of India, the petitioners have prayed to quash and set aside the impugned order dated 09.02.2021 along with letters dated 11.04.2022, 10.05.2021, 19.05.2021 and 11.05.2021 and letter dated 1.06.2022 issued by respondent no.2 identifying the respondent no.3 company and the petitioners as “Willful Defaulter” and further prayed to restrain the respondent no.2 bank from reporting the name of the petitioners to RBI/CIBIL as “Willful Defaulters”.

4. Brief facts of the case are as under :

4.1) The petitioners are the shareholders and the suspended Directors of respondent no.3 company – Care Office Equipment Limited.

4.2) Respondent no. 3 company is a public limited company incorporated in the year 1998 and was engaged into th