Banks should pass reasoned orders while declaring entity defaulter: HC

Banks should pass reasoned orders while declaring entity defaulter: HC

Representative image | Illustration: AJAY MOHANTY The Bombay High Court has said banks and financial institutions should pass reasoned orders before declaring an entity or person a wilful defaulter under the Reserve Bank of India’s Master Circular. A division bench of Justices B P Colabawalla and Somasekhar Sundaresan, in its order on March [...]