AdvertisementKanchan Motors Vs Bank of India (Bombay High Court) The Bombay High Court allowed the writ petition filed by Kanchan Motors challenging the orders of the Identification Committee and Review Committee of Bank of India, which had declared the petitioners as wilful defaulters. The petitioners had availed credit facilities from the bank but were unable to repay the outstanding dues due to unavoidable circumstances. After issuing a demand notice for Rs. 2,62,28,830, the bank initiated recovery proceedings before the Debt Recovery Tribunal. During the pendency of those proceedings, the bank issued a...