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IN THE HIGH COURT OF JUDICATURE AT MADRAS
N.ANAND VENKATESH, J
Arvind Kumar Bishnoi – Appellant
Versus
IDBI Bank – Respondent
| Table of Content |
|---|
| 1. challenge to review committee decision (Para 1 , 2 , 4 , 6) |
| 2. impact of borrower status under banking regulations (Para 3 , 5 , 18) |
| 3. application of mind by review committee (Para 9 , 14 , 20) |
| 4. determination of director's involvement in defaults (Para 10 , 11 , 21) |
| 5. court's dismissal of the writ petition (Para 23) |
ORDER
This writ petition has been filed challenging the decision taken by the Wilful Defaulters' Review Committee dated 12.10.2023 declaring the petitioner also as one of the wilful defaulter.
2.The case of the petitioner is that he was inducted as a director (marketing) of M/s.Tecpro Infra Projects Limited on 30.09.2010. This Company was sanctioned credit facilities to the tune of Rs.40 crores by the respondent Bank. It is stated that the petitioner was not involved in the day-to-day affairs of the Company and he was neither a promoter nor a whole time director. Apart from that during his tenure as a director, the Company was repaying the loans without any default. The petitioner submitted his resignation with effect from 02.09.2013. Much later on 22.10.2014, the bank account of the Company was declared as Non-Performing Assets [NPA]. A show cause notic
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