The Supreme Court on Monday adjourned to October 5 hearing on two public interest litigations (PILs) seeking an extension of the moratorium period and waive off interest on the repayment of the loan amount in view the COVID-19 pandemic. A three-judge bench, headed by Justice Ashok Bhushan, deferred the matter for October 5, after Solicitor General Tushar sought more time to place some relevant documents before it, as asked by the apex court earlier.
Mehta, appearing for the Union of India, submitted that the Central government is taking all kinds of steps on the matter and it is a serious concern for them and that it is almost in the advanced stage of taking a decision on the issue.
Senior lawyer Rajiv Dutta, appearing for one of the petitioners, submitted that the case should be heard and listed as early as possible. The bench took on record the submissions and fixed the matter for further hearing to October 5.
Advocate Vishal Tiwari, a petitioner in the matter, submitted that individual borrowers are facing trouble and a lot of hardships from the lending institutions as they are making threatening calls to them. A fair practice code issued by the Reserve Bank of India (RBI), shall be strictly followed by them, Tiwari said.
The bench said that it will consider and hear all the submissions on the next date of hearing. The Solicitor General was also directed to serve a copy of his affidavit upon all appearing parties in the matter.
The top court was hearing two petitions, filed by one Gajendra Sharma and lawyer Vishal Tiwari, seeking an extension of the moratorium period on repayment of loans and to waive off the interest on the repayment of the loan amount in view the COVID-19 pandemic.
(With agency inputs)