The central government has told the Supreme Court that according to the circular of the Reserve Bank of India, the period of exemption in granting loans can be extended for two years.
During this time, on the question of not levying interest on interest, the central government said that the Center, RBI, and Bankers Association will meet together and find a solution.
After starting the lockdown due to corona, the RBI had permitted to not give loans for three months and then six months. But during this time, petitioner Gajendra Sharma had filed a petition in the Supreme Court seeking not to impose interest on the interest.
During the hearing on this petition, Solicitor General Tushar Mehta, who appeared on behalf of the Center, said that the exemption limit can be increased by two years.
The Supreme Court will now hear the matter on Wednesday. The court has said that it will listen to all sides of this matter.
The case is being heard by a three-member bench headed by Justice Ashok Bhushan. Vishal Tiwari, counsel for the petitioner Gajendra Singh said that this is a matter related to public interest.
The Supreme Court last week sought the opinion of the Central Government in this matter and said that the Central Government cannot hide behind the RBI in this matter, it should also clarify its stand.
Solicitor General Tushar Mehta also said during the hearing that other issues are also involved in this case, GDP has gone up to -23 percent and there is pressure on the economy too.
Telecom companies should pay arrears within 10 years: Supreme Court
The Supreme Court on Tuesday ordered telecom companies to pay their AGR (Adjusted Gross Revenue) dues within 10 years. A three-member bench headed by Justis Arun Mishra pronounced the order through videoconferencing. In the order, the National Company Law Tribunal (NCLT) has been asked to decide whether the purchase and sale of the spectrum will be part of the Bankruptcy Code (IBC).
Devangana sure of 'cage break' in Delhi riots case
Devangana Kalita, a member of the 'Pinjra Tod' organization, was given bail by the Delhi High Court in a case related to the Delhi riots on Tuesday.
However, Kalita has a case registered under UAPA so she will not be able to come out of jail. He was accused by the police in his charge sheet of inciting the people of Zafarabad to participate in the riots. The single bench of the Delhi High Court granted Devangana bail. Justice Suresh Kumar Ket was watching this bench.
Senior advocate Kapil Sibal appeared on behalf of Kalita and said that he has already got bail in an FIR lodged against his client. Sibal told the trial court that Kalita had gone very little in protests against the CAA and that she had not been involved in the violence.
Kalitha's lawyer Sibal said that a charge sheet has already been filed against him and no investigation is needed against him now.
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