under the RBI Circular
dated 12.02.2018 (In Brief 'RBI Circular'). Such RBI Circular has been
declared ultra vires and struck down ... that the Application is filed in pursuant
to the RBI Circular. As per RBI Circular the Application under Section 7
of I&B Code
pursuant to the RBI Circular.
6. Learned Counsel appearing for the Respondent submitted that
the Circular of RBI dated 12.02.2018, has been declared ... light of the new Circular
dated 12.02.2018; as there was no scheme available for
restructuring after RBI Circular dated 12.02.2018, in the JLF
Meeting dated
India. Among the various circulars and guidelines issued from
time to time on classification of MSME accounts the RBI circular
dated 07.02.2018 directed schedule banks ... benefit of the circular (xxv) Even otherwise, it
is trite that beneficial provisions such as under the RBI circular
are to be given a liberal
limitation and (2)
The Petition has been initiated as per RBI circular dated 12.02.2018 which was
held ultra virus of section 35AA of the Banking ... Bank as per the
directions and under the compulsion of the RBI Circular 12.02.2018 which was
Comp App (AT)(CH)(Ins) No. 04/2021
RBI circulars as well as Section 10 A of the Code.
20. The Appellant pointed out that the Circular issued by the RBI ... this regard, the Appellant reiterated that RBI Circular is not applicable as
the RBI Circular used the word 'Due' and clearly the instalment
RBI circulars as well as Section 10 A of the Code.
20. The Appellant pointed out that the Circular issued by the RBI ... this regard, the Appellant reiterated that RBI Circular is not applicable as
the RBI Circular used the word 'Due' and clearly the instalment
RBI Circular, Corporate Debtor could not
have been declared NPA. It is submitted that the RBI Circular dated
07.02.2018 is retrospective in nature. Adjudicating Authority ... Corporate Debtor. The beneficial and retrospective nature of the RBI Circular
dated 07.02.2018 has been ignored and it has been wrongly held to be
prospective
bound by the RBI Fair Practices Code and Master Circular ("RBI Circular" in
short) dated 02.07.2012 which circular mandated the need ... conditions recorded in
writing."
Basis the master circular of RBI dated 01.07.2015 which held that
RBI guidelines have statutory force and that provides
Code, on the basis of the Reserve Bank of India (RBI) Circular dated
12.02.2018, which has since been set aside as ultra-virus ... under Section 7 of the Code was not
based upon the RBI Circular dated 12.02.2018 because it does not apply to
the facts
Code, on the basis of the Reserve Bank of India (RBI) Circular dated
12.02.2018, which has since been set aside as ultra-virus ... under Section 7 of the Code was not
based upon the RBI Circular dated 12.02.2018 because it does not apply to
the facts
