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HC directs banks to provide a moratorium of EMI payable by borrower company due to Covid-19 pandemic

October 1, 2020[2020] 119 375 (Karnataka)

FEMA, INSURANCE & BANKING : Where petitioner-construction company had taken term loan from respondent bank and EMI were recovered from lease rent deposited in escrow account, respondent bank was directed to provide a moratorium of EMI payable by petitioner company for period 1-3-2020 till 31-5-2020 in view of COVID-19 pandemic

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