The court said the government should give another detailed affidavit.
NEW DELHI: The court on Friday extended the hearing on the exemption of interest during the moratorium period till October 13. The court observed that the government’s affidavit was not satisfactory.
The court has asked the government and the Reserve Bank to give another affidavit. The court said that the centre’s affidavit did not contain what it had done with the recommendation of the Kamat Committee.
Kotithi said the affidavit had failed to resolve many of the issues raised by the petitioners. The Central Government has been asked to consider the concerns of the real estate and power sectors.
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No government, reserve bank, orders or circulars have been issued for the implementation of the decisions. No mention of the consequences, the court observed.
The court also asked all affidavits related to the petition to be filed by 12. The Central Government had earlier filed an affidavit in the court stating that the fine interest on loans up to Rs 2 crore could be avoided.
The court said this while hearing a batch of petitions seeking waiven of interest during the moratorium period. The bench of Justice Ashok Bhushan chaired the hearing.
Centre’s Plan Fails To Deal With Issues: Top Court On Waiver Of Compound Interest On Loans
