First

petitioner

is

a

Private

Limited

Company

incorporated

under

the

provisions

of

the

erstwhile

Companies Act, 1956. The other petitioners who are

spouses happen to be directors of the said company which

has been carrying on the business of steel and non-steel

products. They are knocking at the doors of Writ Court for

assailing the respondent-banks' letter dated 22.07.2021, at

Annexure-K whereby, they were asked to show cause "as to

why your account and you be not classified by the bank as

a willful defaulter". They also call in question Review

Committee order dated 28.7.2022 at Annexure-A whereby,

not being convinced of the cause shown, they have been

declared as willful defaulters.

Learned

Sr.

Advocate

appearing

for

the

petitioners argues for faltering the impugned show cause

notice and the order that: an opportunity of personal

hearing despite demand was not granted and thus, there is

violation

of

principles

of

natural

justice

warranting

4

invalidation of the impugned instruments; branding the

borrowers as willful defaulters cannot be readily done, there

being extant RBI guidelines and Central Government

Circulars

regulating

the

same.

The

due

procedure

prescribed under these