 "Supreme Court")
The Supreme Court has asked the Finance Ministry to respond to a representation seeking disciplinary action against public sector banks (PSBs) for not invoking personal guarantees of promoters and directors of firms defaulting in repayment of huge loans.
The plea claimed around Rs 1,900 crore are lost every day due to PSBs not invoking personal guarantees of big corporate loan defaulters.
In an order on Monday, a Bench comprising Justices R F Nariman and Navin Sinha took note of the submissions of senior advocate Manan Kumar Mishra and asked him to approach the Ministry of Finance within two weeks with the representation
