SC postpones the hearing on loan moratorium pleas until 5 November

The Tuesday hearing of a batch of pleas relating to the interest payment of banks against EMI’s that were not paid by borrowers who took advantage of the RBI loan moratorium scheme in view of the pandemic was postponed by the Supreme Court to 5 November.

In fact, the Reserve Bank of India and the Ministry of Finance have filed separate additional affidavits in the apex court stating the difference between the compound and the simple interest received on loans of up to 2 crore Rs during the moratorium period on banks and financial institutions’ accounts of qualified borrowers until 5 November.

The solicitor general, Mr Tushar Mehta, requested that a hearing be postponed in the loan moratoire case as he is busy arguing for the Center in other cases relating to the Central Vista project.

“These moratorium matters were listed yesterday but they came up today. I am requesting for an adjournment considering I have a case (Central Vista) where I will be arguing”, the law officer said.

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