Bank shouldn't declare accounts as NPAs until disposal of pleas seeking moratorium extension: SC

Agencies
September 3, 2020

New Delhi, Sept 3: The Supreme Court on Thursday directed that the bank accounts should not be declared as non-performing asset (NPA) as on 31 August should not be declared as NPAs until the disposal of the pleas seeking an extension of the moratorium period.

A three-judge bench, headed by Justice Ashok Bhushan, was hearing two petitions 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 of the COVID-19 pandemic.

Solicitor General Tushar Mehta, appearing for the Central government, said that the banking sector is the backbone of India's economy and that the government cannot take any decision which can weaken the economy.

"We have decided not to waive interest, but reduce payment pressure," Mehta said.

Advocate Vishal Tiwari, who is one of the petitioners, asked whether three months time period till November 1 will be given to borrowers to approach the banks for rescheduling or restructuring after August 31.

Tiwari also asked if EMI's will be deferred and whether no action will be there in default.

After hearing arguments from all the parties in the matter, the bench passed an order not to declare accounts as NPAs until the disposal of the petitions in the matter.

Earlier, the Central government had submitted that the loan moratorium period may get extended by up to two years in view of the ongoing COVID-19 pandemic. It had also said that writing off interest will weaken banks and economic conditions.

The Reserve Bank of India (RBI) had, in its notification dated March 27, granted a three-month moratorium period on monthly loan installment, and extended the same on May 23, for another three months till August 31, 2020, in view of the economic impact of the COVID-19 pandemic.

The top court was hearing two pleas filed by Gajender Sharma and lawyer Vishal Tiwari, seeking directions to extend the moratorium period to help borrowers in deferring their EMI payment on term loans and for waiver of interest on the loan repayment during the moratorium.

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MUKESH RAMANIK…
 - 
Monday, 4 Jan 2021

My housing loan banker show my property as NPA and doing action under sarafesi act they stick notice on my door and w right on with black marker 7 months NPA. How it's possible? I asked them but they still not giving any answer and pressure us to pay money. I've unite of garment which ruined in corona. No one wants to hear us

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November 28,2024

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Mangaluru, Nov 28: In a major breakthrough, police have arrested Rahul, alias Bol Karmaveer Eshwar Jat, a Haryana native, for a brutal train murder committed on October 25. Rahul, a notorious interstate serial offender, was apprehended after a relentless investigation involving multiple state police forces.

The October 25 incident occurred during a train journey when Rahul got into an argument over a cigarette with Mauzzam, a resident of Chikkaballapur. The altercation escalated, leading to Rahul strangling Mauzzam to death. He fled the scene with the victim’s mobile phone, bag, and cash.

Muazzan worked as a sales representative and was differently-abled. He boarded the train on October 24 from Yesvantpur and occupied the Divyang Coach. The incident came to light on the morning of October 25 at Udupi, where a railway guard found Muazzam unresponsive. The railway police immediately rushed him to the hospital, but doctors declared him dead.

Accused Rahul was tracked down through an exhaustive review of over 2,000 CCTV recordings by police teams from Valsad, Vapi, Surat, and Udvada. His identity was eventually confirmed by a vigilant officer from Surat Central Jail, leading to his capture in a joint operation by Railway and Surat police.

Rahul’s criminal record reveals a trail of horrifying offenses across Gujarat, Karnataka, Maharashtra, Telangana, Haryana, and West Bengal. Among these are the rape of a mentally ill minor girl in Pune and the rape and murder of a 19-year-old woman near Udvada railway station in Gujarat's Vapi district. Despite being arrested in the past, Rahul resumed his crimes after securing bail.

On November 19, he allegedly stabbed a 60-year-old man to death aboard the Katihar Express in West Bengal, with a case registered at the Howrah police station. In Telangana, he confessed to murdering a woman in yet another shocking crime.

Public Advisory:

  • Stay vigilant when traveling on trains, especially during late hours.
  • Report suspicious individuals or activities to railway authorities immediately.
  • Ensure your personal belongings are secure while traveling.
  • This arrest brings a sense of relief, but the investigations continue as authorities piece together the full extent of Rahul’s crimes.

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News Network
November 21,2024

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Hamas says the Israeli regime’s sole objective lies in “erasing” the entirety of the Palestinian population from across the Palestinian territories.

Khalil al-Hayya, a ranking official with the Gaza Strip-based Palestinian resistance movement, made the remarks to the Palestinian al-Aqsa TV on Wednesday.

“The occupation targets everyone—it strikes hospitals, civil defense, women, children, and the elderly,” he said, adding that the regime sought to “empty Gaza of its residents, and displace the Palestinian people to fulfill its dreams of building a Zionist Jewish state across all of Palestine.”

The remarks came amid the regime’s October 2023-present war of genocide on the coastal sliver that has so far claimed the lives of nearly 44,000 Palestinians, mostly women and children.

“This unprecedented aggression in modern times evokes scenes from the dark ages of human history, having crossed all red lines and exceeded every expectation of brutality in the modern era,” the Palestinian official lamented.

He also regretted that the regime had added “systematic and dangerous starvation to its aggression, falsely claiming before the world that it allows 250 [aid] trucks into Gaza daily. In reality, the number of trucks is far fewer.”

Hayya, meanwhile, regretted that “scenes of children torn apart, women screaming over their children, and heart-wrenching destruction have failed to stir enough humanity to stop these crimes.”

He decried the United States for vetoing the United Nations Security Council’s resolutions that are aimed at bringing about a potential ceasefire in the war, saying this indicated Washington’s “partnership in the aggression” and a simultaneous siege that the Israeli regime has been enforcing on Gaza.

Addressing Israeli Prime Minister Benjamin Netanyahu, the official asserted that, despite what the Israeli official is after, Hamas would not hand over the regime’s captives “without [the regime’s] stopping the war.”

He called Netanyahu “the main obstacle” in the way of cessation of the aggression, saying the Israeli premier “blocks any progress for political reasons,” and citing his preventing conclusion of a ceasefire agreement in July.

Hayya also warned that the regime sought to expand the war beyond Gaza, but asserted that its goals are “impossible and will never happen.”

“Today, the enemy exposes its true intentions of extermination and displacement, but it will fail,” he stressed.

“The Palestinian people are resilient and will not surrender, as they believe in their humanitarian and political cause. The enemy and its allies will not succeed in achieving their goals. This steadfast people will endure, and the occupation will not prevail against them.”

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News Network
November 19,2024

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The Karnataka Police’s Anti-Naxal Force (ANF) achieved a major breakthrough on Monday night by eliminating Vikram Gowda, one of Karnataka’s most wanted Naxal leaders for over two decades. The encounter occurred in the dense Kabbinale forest of Udupi district, marking a significant victory against Naxal insurgency in the region.

Who Was Vikram Gowda?

Hailing from Hebri in Udupi, Vikram Gowda, 44, was a prominent figure in the Naxal movement. He went underground in 2002, initially serving as a courier and fund collector before rising to lead a breakaway Naxal group. Despite having only a fourth-grade education, he was a staunch advocate for tribal rights and a key player in the movement’s survival in Karnataka.

Bounty: ₹3 lakh from Karnataka and ₹50,000 from Kerala.

Legacy: The last major Naxal leader in Karnataka after the 2021 arrest of B G Krishnamurthy.

The Encounter

Police revealed that Gowda and his team visited Kabbinale village to collect groceries on Monday night. Acting on a tip-off, ANF ambushed the group. When the Naxals opened fire, ANF responded, leading to Gowda's death.

Escapees: Three Naxals fled, including prominent members Latha (aka Mundgaru Latha) and Raju.

Significance: This was the first Naxal casualty in Karnataka in over two decades.

Home Minister G. Parameshwara confirmed the operation, stating, “Gowda was elusive for 20 years, escaping multiple encounters. His death is a critical step in dismantling Naxal operations in the region.”

The Decline of Naxal Activity in Karnataka

Karnataka's Naxal movement has been dwindling, with members seeking refuge in Kerala and Tamil Nadu. The group’s strength had reduced to just 19 members by 2018, but recent sightings indicate attempts at revival:

2023 Activity: Reports of Gowda-led movements in the Kodagu and Hassan districts reignited concerns.

Political Heat: The BJP criticised the Congress government, alleging it created a “safe haven” for Naxals.

A Glimpse into Gowda’s Past

Personal Life: Gowda’s ex-wife, Savitri (alias Rajita), was arrested in 2021. She was a senior Naxal commander involved in insurgency since 2004.
Rehabilitation Efforts: Since 2013, Karnataka’s rehabilitation policy has seen 14 Naxals surrender and reintegrate into mainstream society.

A Milestone in Karnataka’s Fight Against Insurgency

The operation signifies a decisive blow to Naxal resurgence in the Western Ghats. While the ANF continues its search for escapees, the Karnataka government reaffirmed its commitment to offering rehabilitation to those willing to surrender.

As Karnataka celebrates this triumph, the message is clear: there is no room for insurgency in the state.

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