Internal Committees of bank couldn't declare petitioner a 'wilful defaulter' without reasons; devoid of principles of natural justice: HC

FEMA, BANKING amp; INSURANCE : Where Default Identification Committee of bank declared petitioner as wilful defaulters and same was confirmed by Review Committee, since decision of both committees was devoid of reasons, in as much representation of petitioner had not been dealt with at all, Committees violated principles of natural justice and therefore, decision of both committees was to be set aside

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