Moratorium Period May Get Extended to 2 Years

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The Supreme Court heard a petition directing the direction of exemption on interest during the moratorium period due to Covid-19. Solicitor General Tushar Mehta, appearing for the Center, filed an affidavit in the court stating that the postponement of the loan may extend for two years. But this will be given to a few sectors.

Mehta has submitted to the court a list of sectors that can be given further relief. The Supreme Court said that it would hear the matter on Wednesday and all parties would file their reply in the Moratorium issue through the Solicitor General tomorrow.

During the hearing last week, the Supreme Court reprimanded the government for clarifying its stand on the loan moratorium issue and filing an affidavit in the court at the earliest.

During the hearing of a petition requesting an interest moratorium during the moratorium to repay the loan moratorium, the court said, “The reason behind the problems facing the economy is the lockdown.”

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