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The Supreme Court today dismissed the plea filed by Advocate Vishal Tiwari seeking directions to count 90 days for declaration of Non-performing Asset shall be reckoned from the date of Loan Moratorium judgement.

Bench of Justice DY Chandrachud and Justice MR Shah said, “These are matters of policy. Court shall not interfere. We are dismissing this.”

Appearing for the centre, Additional Solictor General ASG Venkatraman had submitted that, “This must be be dismissed as it is based on a PIL taken up by the vacation bench. Same things are filed again.”

To this Advocate Vishal Tiwari submitted that the same was a Miscellaneous application and some new facts have come into picture.

“In Miscellaneous Applications you can't claim for wider relief,” said Justice DY Chandrachud.

The application had also sought for not taking any coercive action by any Banks/NBFC’s against borrowers till further orders due to the outbreak of CoVID.

A Full Judge Bench of Justice Ashok Bhushan, Justice R. Subhash Reddy and Justice M.R. Shah, on March 23, 2021 while observing that economic and fiscal regulatory measures are a field where judges should encroach upon very warily as they are not experts in these matters had observed that, 

“Even the Government also suffered due to the lockdown, due to the unprecedented COVID 19 pandemic and also even lost revenue in the form of GST. Still, the Government seems to have come out with various relief/packages. Government has its own financial constraints. Therefore, as such, no writ of mandamus can be issued directing the Government/RBI to announce/declare particular relief packages or to declare a particular policy, more particularly when many complex issues will arise in the field of economy and what will be the overall effect on the economy of the country for which the Courts do not have any expertise…”

The Court thereafter while dismissing the applications said that, “ Once judgement is passed, you can't file MA. This is like review.”

Case Title: Vishal Tiwari v Union of India