Recently, Karnataka HC ruled that criminal proceedings against borrowers can’t be initiated where borrowers’ declaration as wilful defaulters is stayed. The bench of Justice M Nagaprasanna opined that “the very act of the Bank in registering the crime during subsistence of the interim order and getting the matter closed where interim order was subsisting on
Criminal Proceeding Against Borrower Can’t be Initiated Where Borrowers Declaration as Wilful Defaulter is Stayed: Karnataka HC
