Case Law Details
Case Name : Small Scale Industrial Manufactures Association (Regd.) Vs Union of India and others (Supreme Court of India)
Appeal Number : Writ Petition (C) No. 476 of 2020
Date of Judgement/Order : 23/03/2021
Related Assessment Year :
Courts :
Supreme Court of India
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Small Scale Industrial Manufactures Association (Regd.) Vs Union of India and others (Supreme Court)
As the charging of penal interest/interest on interest/compound interest during the moratorium period is concerned, it stands absolutely on a different footing. At this stage, it is required to be noted that in fact the Central Government has come out with a policy decision subsequently by which it is decided not to charge the interest on interest on the loans up to Rs. 2 crores. However, such relief is restricted to the following categories:
(i) MSME loans up to Rs.2 crore
(ii) Education loans up to Rs.2 crore
(iii) Housing loans up to Rs.2 crore
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