Taking note of the concerns of borrowers, the Supreme Court on Thursday directed that accounts that were not declared Non Performing Assets (NPAs) until August 31, shall not be declared so until further orders.
A Bench of Justices Ashok Bhushan, R Subhash Reddy and M R Shah took on record the submission made by Senior Advocate Harish Salve, appearing for the Indian Banks Association, that accounts would not become NPAs for at least two months.
“In view of (this),” the Bench said in its order, “the accounts which…