Consider not charging curiosity on curiosity throughout moratorium mortgage: SC tells Centre

New Delhi, September 10

The Supreme Court on Thursday requested the Centre to contemplate a plea for not charging curiosity on curiosity on deferred EMIs throughout the moratorium interval and likewise not downgrade the credit score/asset classification of the debtors.

A Bench headed by Justice Ashok Bhushan, R. Subhash Reddy and MR Shah requested the Centre, Reserve Bank of India and the banks to place their heads collectively inside two weeks to resolve on essential points — sector-specific mortgage restructuring, charging of curiosity on curiosity, and many others — after which give you a concrete resolution.

Solicitor General Tushar Mehta, showing for the Centre, submitted that an professional committee on the highest degree has been set as much as take choices on the problem of moratorium extension, curiosity on curiosity throughout moratorium and different linked points.

The prime court docket stated it’s inclined to grant two weeks to the Centre to file an applicable affidavit and it’ll contemplate totally different prayers made by petitioners on the subsequent date.

The prime court docket noticed that its interim orders shall proceed until the subsequent date of listening to, the place it had stated that accounts not declared NPAs on August 31, should not be declared NPAs until additional orders.

The prime court docket will take up the matter on September 28. The prime court docket additionally directed the Centre, RBI and banks to position their choices on the matter earlier than it.


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