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2019 (8) TMI 1722 - CALCUTTA HIGH COURTValidity of Master’s Circular of wilful defaulters - Account classified as wilful default or not - HELD THAT:- There are procedural irregularities in the bank arriving at the decision to classify the account as a wilful default - In the facts of the present case, it would be appropriate to permit the bank to initiate proceedings under the Master’s Circular for wilful defaulters in respect of the subject account, in accordance with law. No doubt, the bank will communicate the decision of the identification committee to the persons responsible, in accordance with law. Petition disposed off.
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