Loan Moratorium And Waiver of Interest - Live Updates From Supreme Court

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17 Dec 2020 1:17 PM IST

  • Loan Moratorium And Waiver of Interest - Live Updates From Supreme Court

    Supreme Court bench led by Justice Ashok is hearingp plea(s) seeking extension of loan moratorium owing to the pandemic along with sector-specific...

    Supreme Court bench led by Justice Ashok is hearingp plea(s) seeking extension of loan moratorium owing to the pandemic along with sector-specific plea's.

    Live Updates

    • 17 Dec 2020 2:54 PM IST

      All Counsel thank the bench for a patient hearing.

      Bench reserves judgment but Advocate Kunal Vajani seeks to make brief rejoinder submissions.

    • 17 Dec 2020 2:54 PM IST

      Tiwari says that Banks are taking advantage of borrowers who are facing a financial difficulty.

    • 17 Dec 2020 2:48 PM IST

      This seems to be misconceived. If he has a grievance against PNB Housing, then either a Seperate needs to be filed or PNB is required to be impleaded, Senior Advocate VV Giri says for RBI

    • 17 Dec 2020 2:46 PM IST

      I am requesting restructuring and no penal action, Tiwari says

    • 17 Dec 2020 2:46 PM IST

      Tiwari urges the court to direct no penal action.

    • 17 Dec 2020 2:45 PM IST

      We will record and clarify that. Those banks which did not consider, will have to consider it, thats all, says Bench

    • 17 Dec 2020 2:45 PM IST

      Justice Bhushan says that the advisory applies to Housing Finance.

    • 17 Dec 2020 2:44 PM IST

      Adv Vishal Tiwari: Pursuant to Order of your lordships, I went to to making a representation. One lending institution has written to me stating that (PNB Housing) the RBI Advisory is not applicable to me.

    • 17 Dec 2020 2:42 PM IST

      Srivastava concludes.

    • 17 Dec 2020 2:41 PM IST

      Srivastava: Absolute distress prevailing at the moment. They have not been taken into account, with due regard to the Union or RBI. Huge profits being made by banks.

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