SC Hearing on Loan moratorium Highlights Government to file an extra affidavit; hearing to resume on 13 October

SC Hearing on Loan moratorium hearing to resume on 13 October
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On 5 October, the Supreme Court ( SC) heard a batch of petitions requesting a waiver of interest during the loan moratorium period.

The bench headed by Justice Ashok Bhushan heard pleas demanding waiver of unpaid interest during the six-month loan moratorium period. Justices R Subhash Reddy and MR Shah are on the SC bench as well.

The apex court allowed the Government and the Reserve Bank of India ( RBI) time to file supplementary affidavits. The inquiry will continue on 13 October.

The Centre’s affidavit does not mention what has been done with regard to the recommendation of the Kamath Committee. (Inputs from the Bar & Bench legal news website)

The problem is not the documentation, but the execution of the report. The Center and the RBI should make those orders so that people know what incentives are being added.

The petitioners contend that several concerns have not been discussed in the Centre’s affidavit. The report of the Kamath Committee has not been reported.

No consequential directions or circulars have been issued by the Government or the RBI for the implementation of decisions.

Gives time for RBI, the Center to file new affidavits. The Court also orders that attention be extended to the concerns posed by real estate groups such as CREDAI and power producers.

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