HC restrains bank from declaring an account as NPA till further order- Covid 19

Shakuntla Educational & Welfare Society Vs Punjab & Sind Bank (Delhi High Court) The issue under consideration is that the petitioner seeks a direction to the respondent not to declare its pending loan accounts as Non Performing Assets (NPA). The petitioner also seeks a direction to the respondent for grant of moratorium of three months to it in terms of circular issued by the Reserve Bank of India(RBI). The petitioner is a charitable society engaged in the business of technical and higher education. In order to set up the institutions, the petitioner had availed six term loans from th...