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SCBA Creates "COVID-19 HELPLINE SCHEME", Members Facing Financial Issues Can Avail Interest Free Loan Upto INR 25000

Radhika Roy
3 April 2020 2:33 PM GMT
SCBA Creates "COVID-19 HELPLINE SCHEME", Members Facing Financial Issues Can Avail Interest Free Loan Upto INR 25000
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The Supreme Court Bar Association has established a scheme by the name of "The SCBA COVID-19 HELPLINE SCHEME" in order to provide financial assistance to members who are facing difficulties due to the national lockdown in the wake of the Coronavirus outbreak.

The Scheme entails providing a loan of Rs. 25,000/- without interest to a member in need of aid and support, and can be repaid by the member within a period of two years or less.

The money is to be disbursed by the Executive Committee within two days of considering the request for the loan.

The Scheme also seeks to keep the identity of the Applicant-Member confidential as far as possible.

The features of the Scheme are as follows:

1). The scheme as at present will have a maximum corpus of Rs. 25,000,00-/, which amount is being withdrawn from the sum received by the SCBA under the orders of the Hon'ble SC from out of costs awarded, and which is lying in Bank as deposit.

2) Scheme will provide maximum assistance of Rs 25,000/- to the Member as Loan to be repaid without any interest in two years time or such shorter time as the Member concerned may like to repay.

3) The Member desiring to benefit under this scheme will have to apply to the SCBA along with a Declaration that he has no other source of Income nor has he applied for a similar benefit to any other Bar Association.

4) EC or such of its Members as may be available will consider the request, process it and disburse the amount as Loan as soon as possible but not later than two days.

5) The Scheme has been approved by the EC through circular resolution on WhatsApp messaging in view of present circumstances.

6) The identity of the Members seeking benefit under the same will be kept confidential as far as possible.

7) Necessary reflection of this expenditure will be made in the books of account of the SCBA.

The Executive Committee of the SCBA has further urged its Members to donate towards the Scheme so as to compensate for expending the amount from the existing deposits.

Click Here To Download Circular

[Read Circular]

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