Supreme Court of India · 2020-11-27
GAJENDRA SHARMA vs UNION OF INDIA
- Citation / case number
- SC 2020/11127
- Court
- Supreme Court of India
- Petitioner
- GAJENDRA SHARMA
- Respondent
- UNION OF INDIA
- Author
- HON'BLE MR. JUSTICE ASHOK BHUSHAN
- Bench
- HON'BLE MR. JUSTICE ASHOK BHUSHAN, HON'BLE MR. JUSTICE R. SUBHASH REDDY, HON'BLE MR. JUSTICE M.R. SHAH
Judgment text excerpt
The Supreme Court ruled that the notification dated 27.03.2020 issued by the Reserve Bank of India, which allows interest to accrue on loans during the moratorium period, does not violate Article 21 of the Constitution. The Court held that while the moratorium provides temporary relief, the accrual of interest is a necessary aspect of loan agreements and does not infringe upon the right to life. The petition challenging the notification was dismissed, affirming the legality of the RBI's measures during the COVID-19 pandemic.