Loan Moratorium And Interest Waiver - Live Updates from Supreme Court

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.

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

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.

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

Rohatgi taking the bench through requisite documents.

Everything is set out, he says

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.

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 

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 

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.

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