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Bombay High Court Quashes Willful Defaulter Declaration Against Non-Executive Woman Director for Violation of Natural Justice. Show-Cause Notice Mandatory Under RBI Master Circular Before Declaring Non-Whole-Time Director as Willful Defaulter.

The petitioner, Manjula Bhatia, a non-executive woman director of PSL Limited, challenged the letter dated 16 July 2018 issued by Bank of Baroda decla...