SANJAY DHINGRA Vs. DHANLAXMI BANK LIMITED

JUDGEMENT

(1.) The present writ petition is directed against communications dtd. 22/1/2020 and 12/5/2020 issued by the respondent no.1-Dhanlaxmi Bank Limited ["the Bank"?] by which the petitioner has been declared as a Wilful Defaulter under the Master Circular on Wilful Defaulters ["the Master Circular"?] dtd. 1/7/2015, issued by the Reserve Bank of India ["RBI"?].

(2.) The petitioner was a director of a company by the name of M/s Kwality Ltd. which is presently undergoing liquidation before the National Company Law Tribunal ["NCLT"?]. His principal grievance is that he was not issued any show cause notice prior to the communication dtd. 22/1/2020, by which he has been declared a Wilful Defaulter by the Identification Committee of the Bank.

(3.) The procedure for declaration of Wilful Defaulters is laid down in Clause 3 of the Master Circular, the relevant provisions whereof read as follows:-