𝙇𝙤𝙖𝙣 𝙈𝙤𝙧𝙖𝙩𝙤𝙧𝙞𝙪𝙢 & 𝙄𝙣𝙩𝙚𝙧𝙚𝙨𝙩 𝙒𝙖𝙞𝙫𝙚𝙧- Hearing- LIVE-UPDATES from SC

Bench discusses.

SG: This could have serious consequences.

Bench: " Okay. We will have it on 28th September.

Interim Orders to continue"

"All decisions taken by the RBI, GOI or the banks should be placed before the Court for consideration. We expect that since matter under active consideration under GOI & RBI...."

".....In view of the aforesaid, we are inclined to grant two weeks to file appropriate affidavit. We make it clear that we shall consider different prayers made by petitioners on the next date"

"........SG states that affidavits bringing on record the decision of GOI & RBI shall be brought on record. Giri has also made the same submissions..."

".....banks debiting interest on interest and credit rating being downgraded which may be adverse effect on various account holders"

"...Expert committees also been constituted and action shall be taken thereof. Counsel of petitioners have expressed concern wrt individual borrowers apart from other sectors and that individuals adversely affected....."

Order:

"Government at the highest level is considering all issues in this batch of cases & within a period of two weeks appropriate decision will be taken with regard to issues which have arisen and the manner and benefits of different sectors..."

Sibal: These contracts operated in state of normalcy. This is not a normal situation. The finance minister herself said that this is a force majeure situation. Why should contracts which could not be enforced on account of moratorium be taken into account?

SG: All this will be taken into account holistically.

Bench: Take concrete decision with clarity so that it is not adjourned now.

SG: Government is considering every sector.

Salve insists that the interest is not a default interest.

Justice Bhushan: Okay, Mr. Mehta? We will grant time and you respond to all issues which have been raised today and now we will not adjourn the case anymore.