SC Hearing on Loan moratorium Highlights Hearing to resume on October 5; temporary orders to proceed

EMI moratorium
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During the loan moratorium time, the Supreme Court (SC), on 28 September, heard a series of petitions requesting interest waiver.

A bench headed by Judge Ashok Bhushan heard appeals to prolong the moratorium on loans and waive the rising interest.

On 5 October, the matter will come to light. The SC order requires that banks refuse to disclose accounts for two months as non-performing assets (NPAs).

By October 1, the SC had given the center time to report the affidavit.

Solicitor General Tushar Mehta:

Look forward to returning to the SC on the matter. “Something dynamic. Many economic challenges are developing,” he said.

Sc Observations:

SG notifies the Government that the concerns are seriously discussed and that a decision is planned to be made within 2-3 days.

SG further notes that it plans to publish by Thursday the affidavit with a view to the Govt’s decision. Can be told and heard on Monday by the Lawyer. Provisional instructions to proceed, “said Judge Ashok Bhushan.

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