Supreme Court Settles Uncertanity On Interest On Interest Waiver, Loan Moratorium, NPA: Prabhudas Lilladher
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Prabhudas Lilladher Report
The Honourable Supreme Court passed judgement on the much awaited loan moratorium extension and interest on interest waiver case.
Petitions stand dismissed for -
- complete waiver of interest during moratorium
- extension of loan moratorium and period of resolution mechanisms and
- some further reliefs over and above the packages already offered.
It has also vacated the interim order of not classifying non-performing assets from September-2020.
At the same time, the court observed no rationale behind waiving interest on interest for specific category of loans up to Rs 20 million.
Hence, it directed to adjust compound interest or interest on interest or penal interest charged during the moratorium to be adjusted in next installment.
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