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

Senior Advocate Rakesh Dwivedi now makes submissions.

He says that exercise of Article 32 in these matters will push authorities to see that needful is done for relevant sectors.

Date fixed for moratorium is 31st december and this should be extended till 31st of March 2021, says Adv. Vishal Tiwari

Our economy now stands at -7.3% GDP growth according to News Reports which means that there is inherently something wrong and that is why Govt. needs to amp up, says Trivedi

So now we will go with news reports? Justice Shah asks

It is a fact, it is government data, Trivedi says

My 19(1)(g) stood suspended during lockdown and that is where my right arises, says Adv. Trivedi for a Real Estate Developer.

Some more lawyers make submissions for specific industries.

Broadly, till August, there was a moratorium. We are now in December and the real substantive meaningful relief which should coming forward is is required to be looked at. Is this merely lip-service or is there substantive relief? Srivastava argues

There has to be a mandate, some compulsion. It cannot be left to their willingness only. This kind of structure may have elements of subjectivity, Srivastava says

To leave it to the banks to establish their own criteria is the problem and this criteria will create subjectivity from bank to bank and the methodology will differ, says Srivastava

No default, no question of penal interest, Srivastava says

SG asks if Srivastava's argument is that there is no need for providing benefit in case moratorium availed.

Justice Bhushan clarifies that he argument is that the argument centers around how everyone should be provided benefit and not "small borrowers"