Loan Moratorium Waiver of Interest Case: Supreme Court Reserves Judgment

first_imgTop StoriesLoan Moratorium Waiver of Interest Case: Supreme Court Reserves Judgment Sanya Talwar17 Dec 2020 4:31 AMShare This – xThe Supreme Court on Thursday reserved judgment on the pleas pertaining to extension of loan moratorium along with petitions by specific sectors.A bench of Justices Ashok Bhushan, R. Subhash Reddy & MR Shah finished hearing the batch of plea’s today and heard rejoinder submissions on behalf of various petitioners.Senior Advocate Ravindra Srivastava made rejoinder submissions today on…Your free access to Live Law has expiredTo read the article, get a premium account.Your Subscription Supports Independent JournalismSubscription starts from ₹ 599+GST (For 6 Months)View PlansPremium account gives you:Unlimited access to Live Law Archives, Weekly/Monthly Digest, Exclusive Notifications, Comments.Reading experience of Ad Free Version, Petition Copies, Judgement/Order Copies.Subscribe NowAlready a subscriber?LoginThe Supreme Court on Thursday reserved judgment on the pleas pertaining to extension of loan moratorium along with petitions by specific sectors.A bench of Justices Ashok Bhushan, R. Subhash Reddy & MR Shah finished hearing the batch of plea’s today and heard rejoinder submissions on behalf of various petitioners.Senior Advocate Ravindra Srivastava made rejoinder submissions today on the aspect of discriminatory aspects in the RBI policy for borrowers.Srivastava also touched upon the implications of the NDMA in the present situation and stated that NDMA has to collect empirical data and make a comprehensive policy. “There can be a partial waiver also but for this there is a need for a calibrated policy under the Disaster Management Act,” he said.Advocate Vishal Tiwari argued that the banks were taking advantage of financial difficulties faced by borrowers even during trying times. He further added that PNB Housing did not follow the Government Advisory.Senior Advocate VV Giri appearing for RBI stated that if he had a grievance against PNB Housing, then either a aeparate plea needed to be filed or PNB was required to be impleaded.Earlier, Solicitor General Tushar Mehta had made submissions on behalf of the Centre bench of Justices Ashok Bhushan, R Subhash Reddy & MR Shah, the crux of which were that the the sector specific issues that emanate in the instant petitions could not be granted relief under Article 32.The law officer stated that the Central Government realised and accepted that there was a problem and that there had to be a solution but that had to be sector specific.The Centre told Supreme Court that to roll out interest waivers would mean that a huge waiver will be attracted which in turn would affect the economy. “If the banks were to bear this burden, it would necessarily wipe out a substantial and a major part of their net worth, rendering most of the banks unviable and raising a very serious question mark over their very survival”, said SG while stating that a blanket waiver of interest would mean foregoing an estimated 6 lac crore.Justice Bhushan told him at this juncture that the courts were conscious of this and that it would not pass any orders which would shake the economy.Senior Advocate VV Giri had then appeared for the Reserve Bank of India, arguing that the prudence framework was available in terms of the RBI Circulars.Next Storylast_img read more


Greensky Bluegrass Welcomes Tom Hamilton, Turkuaz Members At Red Rocks Finale [Video/Audio]

first_imgLoad remaining images Over the weekend, Greensky Bluegrass headed to the famed Red Rocks Amphitheatre in Morrison, Colorado, laying out two stellar shows at the natural amphitheatre. Following a memorable Saturday performance featuring guest appearances by Joel Cummins (Umphrey’s McGee), members of The California Honeydrops, and more, Greensky continued to impress with a top-notch Sunday show.On Sunday, the group welcomed out Joe Russo’s Almost Dead and Ghost Light guitarist Tom Hamilton, plus members of supporting act Turkuaz to finish out the weekend. Guido Batista and Keith Kinnear also returned during the start of Sunday’s first set, with the duo adding in woodblock ornaments during the show-opening “Fixing To Ruin”. The Turkuaz horns—composed of Chris Brouwers, Greg Sanderson, and Josh Schwartz—first appeared during the first set’s “Miss September”, and Greensky Bluegrass ran through the tune and the following “Bring Out Your Dead” with the added horn trio.“Miss September” > “Bring Out Your Dead” Photo: Bill McAlaine [Video: Jenn Cornelison]For a full list of Greensky Bluegrass’s upcoming shows, head to the band’s website.Setlist: Greensky Bluegrass | Red Rocks Amphitheatre | Morrison, CO | 9/23/2018Set 1: Fixing to Ruin (1)(2), Windshield (3), Broken Highways, Courage for the Road, Hold On, Road to Nowhere, Hit Parade of Love, Miss September (4), Before Bring Out Your Dead (4) > Bring Out Your Dead (4), Run or DieSet 2: I’d Probably Kill You (5), Cry Holy, All 4 (6) > Ain’t No Bread in the Breadbox (6), Demons, Wings for Wheels, Leap Year (7) > Rocket Man (7) > Leap Year (7)Encore: KeroseneNotes: (1) – w/ Guido Batista (woodblock) | (2) – w/ Keith Kinnear (woodblock) | (3) – Harpua tease | (4) – w/ Chris Brouwers, Greg Sanderson, Josh Schwartz (horns) | (5) – Lyric change “pretty sure Billy Strings was in there” | (6) – w/ Tom Hamilton | (7) – w/ Sami Garret, Shira Elias, Dave Brandwein, Josh Schwartz, Chris Brouwers, and Greg SandersonGreensky Bluegrass | Red Rocks Amphitheatre | Morrison, CO | 9/23/2018 | Photo: Bill McAlaine [Video: Kyle Isaac]During set two, the band opened with “I’d Probably Kill You” and “Holy Cry” before welcoming out Tom Hamilton for “All Four”. Hamilton also added his electric guitar stylings for “Ain’t No Bread In The Breadbox” before leaving Greensky to perform “Demons” and “Wings For Wheels” on their own. To close out Sunday’s second set, Greensky Bluegrass closed with a “Leap Year” sandwich housing Elton John‘s “Rocket Man”, which saw the Turkuaz horns return to the stage in addition to Turkuaz vocalists Sammi Garret, Shira Elias, and Dave Brandwein.“All Four” > “Ain’t No Bread In The Breadbox” with Tom Hamilton[Video: Kyle Isaac] “Rocket Man” with Turkuaz Memberslast_img read more