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Loan Moratorium And Interest Waiver - Live Updates from Supreme Court

LIVELAW NEWS NETWORK
9 Dec 2020 7:06 AM GMT
Loan Moratorium And Interest Waiver - Live Updates from Supreme Court
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In loan moratorium and interest waiver case Senior Advocate V Giri resumed his arguments before a Supreme Court bench headed by Justice Ashok...

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In loan moratorium and interest waiver case Senior Advocate V Giri resumed his arguments before a Supreme Court bench headed by Justice Ashok Bhushan

Live Updates

  • 9 Dec 2020 7:38 AM GMT

    The bench says that it has to hear Senior Advocate Harish Salve and others.

    Since the court is to hear a Constitution bench case at 2 pm of which Justice Bhushan is a part, the current bench is rising now.

  • 9 Dec 2020 7:38 AM GMT

    There is a news that the IBA has approached the RBI to extend restructuring date to March 31, Advocate Vishal Tiwari says.

    Just wait, bench says

  • 9 Dec 2020 7:38 AM GMT

    Have complied with all directives but at the end of the day, you have to leave it to the banks, Rohatgi says for SBI and concurs with the Centre's stand that a blanket order for waiving off interest will lead to foregoing over 6 lac crore.

  • 9 Dec 2020 7:37 AM GMT

    These are economic policies and I don't think the RBI or Centre could have done anything more. There are lacs and lacs of small depositors for every big borrower, court must not lose sight of this, says Rohatgi

  • 9 Dec 2020 7:37 AM GMT

    Rohatgi taking the bench through requisite documents.

    Everything is set out, he says

  • 9 Dec 2020 7:26 AM GMT

    I am appearing for SBI, I am only saying that these are matters of economic policy, Senior Advocate Mukul Rohatgi says.

    Has your board passed a RP? first you tell us that, Justice Bhushan asks.

  • 9 Dec 2020 7:25 AM GMT

    Mr. Giri, do you watch Kaun Banega Crorepati? Shah J

    I used to but beyond Rs. 3000, questions became difficult for me to answer, says Giri for

    "Because you are only on RBI RBI RBI. Beside you don't need to watch it with RBI by your side!" Justice Shah 

  • 9 Dec 2020 7:21 AM GMT

    The eligibility of the borrower is detailed.

    Eligibility is mentioned under clause 3 of the Circular and stipulates eligibility on account of "stress due to covid19".

    So invocation under Section 14 can be made within contours of this framework, says Giri 


  • 9 Dec 2020 7:14 AM GMT

    This only means that the borrower does not even have to carry the actual resolution plan, says Giri for RBI

    He assures that court that this has already been stipulated and can put it in writing as well.

  • 9 Dec 2020 7:14 AM GMT

    Borrower will only come and say that they want to take benefit of the RBI circular of August 6? Justice Bhushan

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