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No compound interest during moratorium: RBI directs lenders pursuant to SC order

April 15, 2021[2021] 126 taxmann.com 126 (Article)
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The Supreme Court of India (‘SC’ or ‘Court’) had given its judgement in the matter of Small Scale Industrial Manufacturers Association vs UOI & Ors. and other connected matters on March 23, 2021. The said order of SC put an end to an almost ten months-long legal scuffle that started with the plea for complete waiver of interest, but edged towards waiver of interest on interest, that is, compound interest,
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