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SANGEETA K. VISHEN
DNP Foods Limited – Appellant
Versus
Bank of Maharashtra – Respondent
JUDGMENT :
With the consent of learned advocates appearing for the respective parties, the captioned writ petition is taken up for final disposal.
2. Issue rule, returnable forthwith. Ms. Abhineeta B. Chaturvedi, learned advocate waives service of notice of rule on behalf of the respondent.
3. The grievance raised in the captioned writ petition is against the communications dated 24.09.2021 and 05.01.2022, communicating the decision of the Wilful Defaulters Identification Committee (hereinafter referred to as the ‘Identification Committee’) and the Review Committee respectively whereby, the names of the petitioners have been included in the list of wilful defaulters.
4. The facts, as can be culled out from the record, are that somewhere in the year 2017 the respondent has classified the account of the petitioner no.1 as a non performing asset. Pursuant thereto, various coercive measures were taken against the petitioners coupled with the multiple legal proceedings. Apropos which, a show cause notice dated 17.02.2020 was issued by the respondent, requiring the petitioners to show ca
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The main legal point established in the judgment is the requirement for reasoned orders and adherence to natural justice principles in the identification of wilful defaulters under the Master Circula....
Debt Recovery and Monetary Laws - Bank - Loan - Notice - Order of Identification Committee and Review Committee - Challenged - Prior to Identification Committee taking a fresh decision, Bank will add....
Procedural fairness and adherence to natural justice are crucial when classifying individuals as wilful defaulters under banking regulations.
The court emphasized the importance of following the procedure as prescribed in the Master Circular dated 1st July, 2015, and providing an opportunity for the petitioners to defend themselves. The co....
Point of law: The law in this country does not concede an absolute right of representation to an employee in domestic enquiries as part of his right to be heard and that there is no right to represen....
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