Supreme Court notice to Centre, RBI on CREDAI plea
Tribune News Service
New Delhi, May 15
The Supreme Court on Friday issued notices to the Centre and the RBI on realtors’ body CREDAI’s petition on whether real estate firms are eligible for loan moratorium policy of the central bank.
A Bench headed by Justice LN Rao asked the Centre and the RBI to respond in two weeks clarifying if NBFCs were also eligible for loan moratorium under the RBI notification.
On behalf of the CREDAI, senior advocate Harish Salve said the RBI must clarify the position as it had implications for real estate companies.
Solicitor General Tushar Mehta said he would seek instructions from the Finance Ministry and the RBI and apprise the court.
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