Search Results for "Wilful default"

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Search Results for "Wilful default"

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High Court

High Court of Karnataka Quashes Show-Cause Notice Under Section 74 of CGST Act for Lack of Jurisdiction — DGGI Officer Not Authorized as Proper Officer. The court held that only officers specifically authorized by the Commissioner can issue notices under Section 74 of the Central Goods and Services Tax Act, 2017, and the DGGI officer lacked such authorization.

16 Jul 2025

The petitioner, M/s NCS Pearson Inc., a Minnesota-based corporation, filed a writ petition under Articles 226 and 227 of the Constitution of India bef...

High Court

High Court of Karnataka Quashes Show Cause Notice for Willful Defaulter Declaration Due to Lack of Application of Mind — Bank Issued Notice Without Considering Petitioner's Reply or Providing Adequate Opportunity Under RBI Master Circular.

25 Apr 2025

The petitioner, B.G. Chandrashekar, a borrower from Canara Bank, defaulted on a loan of Rs. 7,07,94,378/-. The bank initiated recovery proceedings und...

Supreme Court

Supreme Court Initiates Contempt Proceedings Against Patanjali Ayurved and Its Managing Director for Violating Undertaking Given to Court Regarding Misleading Advertisements and Disparaging Statements Against Modern Medicine. The Court Found Prima Facie Violation of the Drugs and Magic Remedies (Objectionable Advertisement) Act, 1954 and the Undertaking Recorded on 21st November, 2023.

13 Aug 2024

The Supreme Court of India initiated suo motu contempt proceedings against Patanjali Ayurved Limited, its Managing Director Acharya Balkrishna, and Ba...

High Court

Bombay High Court Allows Writ Petition Challenging Wilful Defaulter Declaration — Violation of Natural Justice and RBI Circular Mandates. Declaration set aside as Review Committee failed to provide personal hearing and did not consider petitioner's representation, violating RBI Master Circular on Wilful Defaulters.

11 Mar 2024

The petitioner, Mr. Milind Patel, filed a writ petition challenging his declaration as a wilful defaulter by Union Bank of India (Respondent No. 1). T...

High Court

Bombay High Court Quashes Prosecution for Tax Evasion Under Section 276C(2) of Income Tax Act Where Tax Paid Before Sanction and No Wilful Default Established. Non-payment of tax due to death of managing partner and ignorance of partners does not constitute wilful attempt to evade tax under Section 276C(2) read with Section 278B of Income Tax Act, 1961.

5 Feb 2024

The applicants, Unique Trading Company (a partnership firm) and its partners Munnidevi P. Purohit, Rakesh P. Purohit, and Mukesh P. Purohit, filed an ...

Supreme Court

Supreme Court Upholds Borrowers' Right to Hearing in RBI Fraud Classification Directions. The Court held that principles of natural justice, specifically audi alteram partem, must be read into the Reserve Bank of India (Frauds Classification and Reporting by Commercial Banks and Select FIs) Directions 2016 to prevent arbitrariness, as classification entails serious civil consequences under Clauses 8.9.4 and 8.9.5.

27 Mar 2023

The civil appeals arose from challenges to the Reserve Bank of India (Frauds Classification and Reporting by Commercial Banks and Select FIs) Directio...

High Court

Bombay High Court Quashes Wilful Defaulter Declaration Against Directors Due to Violation of Natural Justice. Show-Cause Notice Not Served to Directors Individually, Only to Company, Rendering WDIC and Review Committee Orders Unsustainable.

1 Dec 2021

The petitioners, who are directors of M/s. Universal Industrial Equipments and Technical Services Pvt. Ltd., challenged orders dated 07.12.2020 and 26...

High Court

Bombay High Court Quashes Bank's Wilful Defaulter Declaration for Violating Natural Justice. Show-cause notice lacking specific grounds renders the decision invalid under RBI Master Circular on Wilful Defaulters.

17 Jul 2019

The petitioners, Nitin Shah, Rahul Shah, and Kunal Shah, who were directors of Nitin Fire Protection Industries Ltd. (the corporate debtor under CIRP)...

Supreme Court

Supreme Court Allows Banks to Deny Legal Representation in Wilful Defaulter Proceedings. In-House Committees of Banks Are Not Tribunals Under Section 30 of Advocates Act, 1961, and Right to Lawyer Is Not Part of Natural Justice.

8 May 2019

The Supreme Court considered appeals against the Delhi High Court judgment which held that a borrower is entitled to be represented by a lawyer before...

High Court

Bombay High Court Dismisses Writ Petition Challenging SARFAESI Act Notice and Receiver Appointment. Court upholds validity of Section 13(2) notice and appointment of receiver, finding no violation of principles of natural justice and dismissing petition due to alternative remedy under Section 17 of SARFAESI Act.

15 Jul 2015

The petitioner, Kingfisher Airlines Limited, challenged the notice issued under Section 13(2) of the Securitisation and Reconstruction of Financial As...

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