TMI BlogDeclaration of Petitioner as a Wilful Defaulter under the Master Circular on Wilful Defaulters, 2015 -...Declaration of Petitioner as a Wilful Defaulter under the Master Circular on Wilful Defaulters, 2015 - depriving the Petitioner from availing credit facilities for his present and prospective business enterprises - The High court found that the bank's reliance on a Forensic Audit Report, without independent verification or considering the petitioner's track record and the context of transactions, was inadequate to substantiate the declaration. - The court held that the bank failed to establish that the alleged acts of Wilful Default were "intentional, deliberate, and calculated," as required under the RBI's Master Circular. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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