Marathi | HIndi

Epaper
Follow us:
Home > National > SC refuses to entertain plea seeking law over conduct of micro-finance institutions
SC refuses to entertain plea seeking law over conduct of micro-finance institutions English.Lokmat.com

SC refuses to entertain plea seeking law over conduct of micro-finance institutions

The Supreme Court on Tuesday refused to entertain a petition seeking directions to the Centre to enact a law for the conduct of micro-finance institutions.
SC refuses to entertain plea seeking law over conduct of micro-finance institutions

The Supreme Court on Tuesday refused to entertain a petition seeking directions to the Centre to enact a law for the conduct of micro-finance institutions.

The top court, however, asked the petitioner to make appropriate representation to the ministry and granted him the liberty to withdraw the petition.

A bench of the Apex Court, headed by Justice Rohinton Fali Nariman, refused to entertain the petition filed by Vikram Sharma, through his lawyer Vishal Tiwari.

Tiwari submitted to the Apex Court that the micro-finance institutions, Banks, and NBFCs use force and muscle power for recovery of loans.

"There is no specific law or strict guidelines to check them. People committing suicide because of the harassment by these financial institutions," he pointed out.

The vehicles which are on finance are taken by force by the lending institutions, Tiwari said.

The Apex Court asked the petitioner to make an appropriate representation before the ministry, with the liberty, to withdraw the petition.

We will approach the concerned ministries along with this order and will ask to take action within a reasonable time, the petitioner said.

( With inputs from ANI )

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

SC refuses to entertain plea seeking law over conduct of micro-finance institutions
Gadkari calls for 'all-round' efforts to reduce road accidents by 2025
30-day notice under Special Marriage Act reasonable: Centre to Delhi HC
Andhra HC directs State Election Commissioner not to use 'eWatch' app till Feb 17
SC ruling to pay 100% school fee during pandemic shocks parents in Raj