New Delhi: The Supreme Court has postponed the hearing of the loan moratorium till September 28. The Central Government had sought to postpone the hearing in the matter for two weeks. The Supreme Court asked the banks not to declare the account as Non-Performing Asset (NPA) in case any loan is not repaid.
The Supreme Court said that the next hearing of the case will now be held on 28 September. The Supreme Court said that this case is being deferred again and again. Now the matter is being deferred for the final time for the final hearing. During this time everyone should file their answer and come to court with concrete plan. Till 31 August, the interim order will not continue to declare the loan defaulters not having NPA as NPA.
The deadline for the Moratorium was earlier as of 31 August 2020 from the Reserve Bank of India. The court asked the central government to consider the demand for non-recovery of interest during the moratorium period and not to downgrade the credit rating of the customer.
Solicitor General Tushar Mehta said that 2-3 rounds of meetings have been held on the issue of interest on interest and a decision will be taken soon. He said that banks will play an important role in this. On behalf of the IBA, Harish Salve said that the government has not taken any clear decision, a new proposal has come up which has to be registered. In this case the rules will be implemented.
