Business Standard

Brief case: SC for tough steps against wilful defaulters

A weekly selection of key court orders

M J Antony 

SC for tough steps against wilful defaulters The Supreme Court has stated that “it has become a general scenario that persons who earn money with the help of hefty loans are not making payment of dues…The time has come when they have to be dealt with sternly and with an iron hand so as to make them pay public dues”. The court lamented the situation in the case of an educational trust which took a loan of Rs 75 crore more than 10 years ago and due to non-payment the amount with interest had swelled to Rs 480 crore.  In this judgment, Maharaji Educational ...

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First Published: Sun, May 28 2017. 23:44 IST
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