Hearing On Loan Moratorium And Waiver Of Interest : Live Updates From Supreme Court

Justice Bhushan: We cannot hear you like this. Everyone cannot argue like this. Mr. Mehta, you appear for RBI also. But, now you’re saying Mr. Giri is appearing. 

Justice Bhushan: Mr. Mehta, you have not brought the Kamath Committee report on record.

Sr. Adv. V Giri seeks to make submissions on behalf of RBI 

Solicitor-General Tushar Mehta: So far as time as concerned, I don’t object to the Bench’s prerogative. But, as far as the sector-wise distribution is concerned, the stakeholders have been considered. I will not object to them filing a Reply, but I will object to their Prayers.

Sundaram and Sibal submit to the Bench that all the accounts, as of 1st September, are non-standard and therefore, there can be no restructuring at all. 

Justice Shah: When it comes to other sectors, it can be said that they can come under the Kamath Committee report. They’ve already submitted that for restructuring anything. So, you might come under that. 

Sr. Adv. C. Aryama Sundaram: They’ve completely left out the real estate sector. They haven’t given us any consideration. Therefore, it becomes important for us to show you why we must be considered. 

Bench: You should have prepared it.

Sibal: It was not possible to file a Reply in two days. We have to go through files and the RBI website. They were given weeks after weeks. What they’ve said is completely wrong. 

Sr. Adv. Kapil Sibal states that he wants to make a request as the Affidavit was filed a day before “and through the media”.

He requests for time to file a Reply before the Bench considers the Affidavit.