The Supreme Court, on the 13th of October, reviewed the petition, seeking interest waiver on moratorium loan.
Since the nationwide lockdown was imposed due to the Novel Coronavirus, the economic situation in India showed a decline.
In the wake of the pandemic, the Reserve Bank of India (RBI) announced extension of three months on moratorium loan till the 31st of August.
However, in september, many people filed petition seeking interest waiver during the loan moratorium period.
After conducting today’s hearing, the Court adjourned its hearing batc interest waiver during the loan moratorium period to the 14th of October.
The three judge bench comprising of Justices Ashok Bhushan, R. Subhash Reddy and M.R. Shah would hear pleas seeking waiver of accruing interest during the six month loan moratorium period.
First hearing was conducted on the 5th of October 5 and the second one was on the 13th of October. It was deferred as Judge Bhushan is required to sit in a different combination of Judges in the post lunch session..
The next hearing is scheduled on the 14th of October.
Stay tuned for further updates.
