Supreme Court bench led by Justice Ashok is hearingp plea(s) seeking extension of loan moratorium owing to the pandemic along with sector-specific...
Supreme Court bench led by Justice Ashok is hearingp plea(s) seeking extension of loan moratorium owing to the pandemic along with sector-specific plea's.
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2020-12-17 07:47:12
17 Dec 2020 9:24 AM GMT
All Counsel thank the bench for a patient hearing.
Bench reserves judgment but Advocate Kunal Vajani seeks to make brief rejoinder submissions.
17 Dec 2020 9:24 AM GMT
Tiwari says that Banks are taking advantage of borrowers who are facing a financial difficulty.
17 Dec 2020 9:18 AM GMT
This seems to be misconceived. If he has a grievance against PNB Housing, then either a Seperate needs to be filed or PNB is required to be impleaded, Senior Advocate VV Giri says for RBI
17 Dec 2020 9:16 AM GMT
I am requesting restructuring and no penal action, Tiwari says
17 Dec 2020 9:16 AM GMT
Tiwari urges the court to direct no penal action.
17 Dec 2020 9:15 AM GMT
We will record and clarify that. Those banks which did not consider, will have to consider it, thats all, says Bench
17 Dec 2020 9:15 AM GMT
Justice Bhushan says that the advisory applies to Housing Finance.
17 Dec 2020 9:14 AM GMT
Adv Vishal Tiwari: Pursuant to Order of your lordships, I went to to making a representation. One lending institution has written to me stating that (PNB Housing) the RBI Advisory is not applicable to me.
17 Dec 2020 9:12 AM GMT
Srivastava concludes.
17 Dec 2020 9:11 AM GMT
Srivastava: Absolute distress prevailing at the moment. They have not been taken into account, with due regard to the Union or RBI. Huge profits being made by banks.