New Delhi: The Supreme Court on Thursday deferred the hearing to November 18, on the petitions in connection with the loan moratorium case introduced during the Covid-19 pandemic.
A bench of the Apex Court, headed by Justice Ashok Bhushan, today deferred the hearing to November 18, Wednesday, after finding the unavailability of Solicitor General (SG) Tushar Mehta in the case.
Mehta was unavailable due to the fact that he was arguing in another court in another case.
The Reserve Bank of India (RBI) on Thursday urged the Supreme Court to lift its interim order, which held that accounts not declared as non-performing assets till August 31 this year are not to be declared NPAs till further orders, saying it is “facing difficulty” due to the directive.
The Supreme Court was hearing on the batch of petitions seeking relief in the form of extension of moratorium period beyond six months or waiver of interest on interest.
RBI had earlier informed Supreme Court that it has asked all banks to be guided by an October 23 “Scheme for grant of ex gratia payment of difference between compound interest and simple interest for six months to borrowers in specified loan accounts.”
The scheme would apply for the 6 month period from March 1, 2020 to August 31, 2020.
Advocate Rajiv Dutta, appearing for petitioner, said, I am extremely grateful to Centre and RBI Solicitor-General for holding the hands of the borrowers. Please dispose off my writ in wake of the affidavits.
