Review Committee Declared Guarantors As Wilful Defaulters Without Making Any Distinction Between Borrower And Guarantor
Case: Ravis Exporters Versus Union of India
Coram: Justice Bechu Kurian
Case No.: WP(C) NO.2427 OF 2020
Court Observation: “It is also surprising to note that even the guarantors have been declared as wilful defaulters without discerning the distinction between the borrower and guarantor and whether the guarantors in the instant case fell within the category of guarantors who could be declared as wilful defaulters,”
“In the absence of serving the order of COE on the petitioner, there could never have been a declaration of the petitioner as willful defaulters since the Master Circular as directed by the Supreme Court contemplates declaration as wilful defaulters only after serving the copy of the order of COE and the consequent decision of the Review Committee,”
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