Lawyer Files plea In Supreme Court Seeking Direction for Moratorium on Loan Repayment Till Dec 31
By: – S.M. Hassan. Abedi
A plea is filed by a lawyer seeking directions to RBI for extension of moratorium on repayment till Dec31.Amid the financial difficulties faced by lawyers, people engaged in service sector and transport & tourist industry.
The plea is filed by Advocate Vishal Tiwari, petition citing the financial hardship faced by those in-service sector and lawyers.
The petitioner submits that those sectors reeling under financial crisis are not likely to come out of the same on August 31, the EMI payments and term loans payments cannot be made until the courts resumes physical functioning.
The plea highlights the plight of people working in various sectors specifically legal professionals and independent litigators and the strain the pandemic has caused to the influx of their incomes.
The petitioner submits that “The Financial Crises and Slump for service sector/lawyers, Transport and Tourist Industry is not going to Recover and Run smoothly just after 31st of august 2020, it will take time and till the smooth and Regular functioning it will be in the public Interest to extend the Moratorium and Defer the loan Instalments Till 31st December 2020”
The petitioner says that “Due to the lockdown scenario in the country because of the pandemic, it has become a real struggling issue to pay off the monthly loan instalments as there is no constant and secured income of the legal professionals and independent litigators due to the closure of the physical hearing in various Courts of the country including the Supreme Court of India. The Reserve Bank of India ….was brought in to grant the relief of suspension of monthly loan instalment and the Notice…….was again brought in to extend the relief for another 3 months that is till 31st, August, 2020.
However, the closure of the court as per the lockdown notification till 31st August, 2020 without any physical hearing in various courts of the country has brought in the problem to various legal professionals which is a significant number to think upon. Therefore, if after 31st August, 2020, the instalments are demanded by the bank, the individuals. will be in a real struggle and hardship to pay such instalment with no income in hand and that action would directly lead to the infringement of fundamental right of livelihood and dignity enshrined under Article 21 of the Constitution of India.”
Expressing the financial distress faced by many of the lawyers and litigators, the petitioner says that the pandemic has also set off other crises where people have lost their jobs or source of income and are in dire situations.
The citizens under financial stress are unlikely to overcome the situation by August 31 considering the Court remains closed for physical hearings, this PIL says adding further that people employed in other similarly placed industries are also likely to continue facing the effect of the financial crisis for more tie.
The petitioner invokes Article 21 and the right to life and livelihood saying that a situation of this nature would be in violation of this fundamental right.
[Read petition]
