Identification of wilful defaulter by Committee without furnishing documents relied on was to be remanded back

FEMA, BANKING amp; INSURANCE : Where Committee for Identification of wilful defaulter of Bank by impugned order declared petitioner directors and guarantors of company as wilful defaulters and same was confirmed by review committee, in view of fact that said order was passed without furnishing documents relied on by both committees and without recording any reasons for coming to conclusion, committees violated principles of natural justice and, therefore,

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