Supreme Court on Loan Moratorium And Waiver of Interest: Live-Updates of Supreme Court

Deferment were for all categories, not for those only who had loans up to 2 crore, Justice Bhushan says

Your lordships are aware what even this 2 crore relaxation has weighed heavily and to do so across borrowers will be difficult, says SG

We realise and accept that there is a problem and there has to be a solution which has to be sector specific. But this needs to be done institutionally and within frameworks provided, SG says

Nobody is saying that nothing has been done. But their submission is that something more is required to be done, says Justice Bhushan

Why this entire exercise was done? We were aware there was going to be a problem, SG says

Not a case for your lordships to go further under Writ jurisdiction. Centre handheld all sectors. Their argument of NDMA not doing anything were nothing but arguments made in desperation, says SG

If sector specific issues persist, they are free to go to RBI but to seek relief under Article 32 is not maintainable that the relief(s) be tweaked, says SG

None of the petitioners raised apprehension that credit ratings will go down, SG says

All conceivable sectors affected by Covid19 have been taken into consideration, SG says

Nothing has been challenged that it is arbitrary etc, says SG

Consortium lending is done to effectuate reliefs. The point is Minority cannot convince, the minority has to convince Majority, SG says

Data specific to real estate sector put forth by CREDAI before Court. The same statistics were also placed before the Kamath Committee by them, after which a specific notification was laid down by the Committee, SG says