'Economic Situation Uncertain Owing To COVID-19' : Calcutta HC Restrains Bank From Declaring Borrower As 'Wilful Defaulter'
Shubhangi Pandey
2 July 2020, 6:23 PM

The Calcutta High Court has passed an interim order restraining Punjab National Bank from declaring a borrower as a "wilful defaulter."

Noting that "the economic situation of the country owing to the COVID-19 pandemic is uncertain," the Court held that in such a situation, the "balance of convenience and inconvenience" should be the "primary guiding factor" in matters concerning the declaration of a person as a "Wilful Defaulter."