Quashed
Apple Commodities Ltd. v. Punjab National Bank
Delhi HCW.P.(C)/5492/2018
Case brief
AI extract
What is this about?
The High Court of Delhi set aside an order dated 10.08.2016 passed by the respondent-bank that declared the petitioner as a defaulter without articulating reasons. The court granted liberty to the bank to revisit the matter by conducting a personal hearing and passing a speaking order within eight weeks.
What did the court decide?
The impugned order declaring the petitioner as a defaulter was set aside. Liberty granted to the authority to grant a personal hearing and pass a speaking order within eight weeks.