NPA

The Allahabad High Court...

The Supreme Court has to...

The plea by Tarun Polymers has impleaded as respondents Shaktikanta Das, Sunil Mehta and Shashi Ranjan Giri, the Authorised officer of Indian Bank, Allahabad.

The petition has sought directions to the respondents to permit the lending institutions to grant interest-free moratorium period for term loan and defer the payment of loan instalments for a period of six months or till Situation from COVID 19 Normalizes.

The Supreme Court on Wednesday issued notice in an appeal against the NCLAT order which had held that entries in the balance sheet of the company do not constitute an acknowledgement of liability in terms of Section 18 of the Limitation Act, 1963.

In major succour for borrowers, the Supreme Court extended an interim loan moratorium and told banks not to declare such accounts as non-performing assets till further orders

The Supreme Court today indicated that while it has taken no decision yet on the issue of interest on loans during the court-ordered moratorium period, it was “inclined” to pass an order against banks charging additional interest during the period.

The Supreme Court today has said that accounts which had not been named as non-performing assets (NPA) as on August 31 should not be declared NPA till further orders.

A plea in the apex co...

Above: Finance Minister A...