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rbi: RBI proposes changes in wilful defaulter norms

Large defaulters are those that have an outstanding amount of Rs 1 crore and above. According to RBI data, there were about 16,000 cases of wilful default involving nearly Rs 3.5 lakh crore at the end of 2022. ....

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Banks to tag wilful default in six months under new rules

RBI issues draft guidelines on classification of wilful defaulters, expands definition of term, sets deadline for identification. ....

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Delhi HC sets aside Union Bank's decision declaring PP Jewellers 'wilful defaulter', ET Retail

Pp Jewellers: Classification of a borrower as a wilful defaulter jeopardises the future of the business of the borrower and, therefore, the principles of natural justice necessitate giving an opportunity of a hearing before declaring the borrower as wilful defaulter, he argued. ....

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pp jewellers: Delhi HC sets aside Union Bank's decision declaring PP Jewellers 'wilful defaulter'

The High Court in its recent order granted time to the company to put forth additional submissions to Union Bank s review committee for a fair and just decision on the matter. The bank s review committee had declared PP Jewellers as a wilful defaulter in February this year. ....

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