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IN THE HIGH COURT AT CALCUTTA
SABYASACHI BHATTACHARYYA
Shrivardhan Goenka – Appellant
Versus
State bank of India – Respondent
| Table of Content |
|---|
| 1. petitioner declared wilful defaulter initially. (Para 1) |
| 2. jurisdictional issue regarding classification as wilful defaulter. (Para 2 , 3 , 4 , 5 , 6) |
| 3. petitioner resigned before default period, challenging wilful defaulter status. (Para 8 , 9 , 10 , 11) |
| 4. bank's allegations of culpability based on evidentiary inconsistencies. (Para 12 , 13 , 14) |
| 5. counterarguments regarding the knowledge and involvement in financial transactions. (Para 15 , 16 , 17 , 18) |
| 6. distinction between independent and non-executive directors in context of culpability. (Para 19) |
| 7. analysis of reasoning fails to substantiate wilful defaulter declaration. (Para 20 , 21 , 32 , 33 , 34 , 35 , 36) |
| 8. impugned decision of rc not sustainable. (Para 37) |
| 9. petitioner's declaration as wilful defaulter set aside. (Para 38 , 39) |
| 10. court’s directives and costs ruling. (Para 40 , 41) |
JUDGMENT :
Sabyasachi Bhattacharyya, J.
1. The petitioner claims to be a Non-Whole Time Executive Director of the Duncans Industries Limited, a Registered Company, which was, along with some of its Whole Time Directors, declared to be Wilful Defaulters under the Reserve Bank of India (RBI) Master Circular on Wilful Defaulters
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