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Extend loan moratorium period, assistance to lawyers: PIL in Delhi HC

A petition was moved in the Delhi High Court on Monday seeking directions to the Central government and the Reserve Bank of India (RBI) to extend the moratorium period for repayment of term loan

Delhi High Court | Credit card loans | Bank loans

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Tamil Nadu has borrowed close to a massive Rs 40,000 crore in four-and-a-half months, compared to Rs 17,000 crore last year

A petition was moved in the on Monday seeking directions to the Central government and the (RBI) to extend the moratorium period for repayment of term loan and credit cards for another 12 months or until the COVID-19 situation normalises.

The plea, filed by Sunil Kumar Tiwari through advocate Mukesh Kumar Singh, also sought to completely waiver the interest or charges at savings bank rate of interest for advocates during the moratorium period.

It also sought a direction to provide the financial assistance to advocates enrolled with the Bar Council of Delhi without discrimination as the onetime financial help of Rs 5,000 for indigent advocates, is not sufficient for their survival.

The plea submitted that due to global outbreak of COVID-19 pandemic, the Central government in order to curb the rapid rise of infected patients within the country was constrained to announced lockdown due to which court across the nation also got shut.

"Most of the advocates who come from a middle-class family and lower-middle-class family are suffering for their survival as they need to feed their family without financial assistance," the plea said adding that many advocates were "paying huge EMI towards loans, credit cards and are residing in rented accommodation are paying rent".

It said that the advocates are not in a position to pay their respective EMI of their loans and also unable to pay school fees, etc of their children. The schools are forcing them to pay their school fees on time which advocates are not able to pay as their own work is totally stopped, the plea said.

The plea further said that the Union of India has given relief to the industry by way of guaranteed free loans on minimal interest along with 12 months moratorium period on repayments.

The government has also given relief to labourers by giving them food, shelter, etc, but, the government of India have failed to announce any financial relief for advocates and private company employees, who are mostly from the middle class and lower-middle-class families, it said.

The plea also mentioned that petitioner has also taken a home loan, car loan, personal loan and credit cards facility from various banks and presently, the petitioner being an advocate who is unemployed/without work is unable to pay his EMIs and other payments in time.

It is submitted that not only petitioner but most of the advocates are facing difficulties in repaying their EMIs and their other payments on time for which bankers are imposing more interest on their outstanding dues, which are creating immense burden upon the petitioner as well as other advocates, the plea said.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Mon, August 24 2020. 20:07 IST