Today (September 10, 2020), a bench of Justices Ashok Bhushan, R Subhash Reddy and M R Shah posted the matter of extension of loan moratorium for further hearing on September 28 and said that the court expects that the government and RBI actively consider all the issues and file the affidavit and place before it within two weeks the decisions taken in this regard.
The apex court while passing the interim order extended the loan repayment period of bank borrowers up till September 28, 2020, in which it had directed the banks not to declare as NPAs accounts that are unable to make repayments. “Accounts not declared NPA as on August 31 shall not be declared NPA till further orders,” the court declared.
The bench clarified that it was giving one last opportunity and thereafter the matter will not be adjourned.
