Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
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Informative
Banks Can't Classify MSMEs Loan Accounts As NPAs Without Following Procedure In Centre's 2015 Notification : Supreme Court
BankingMSME & Udhyam
The Supreme Court ruled that banks cannot classify MSME loan accounts as NPAs without following the procedure outlined in the Centre's 2015 notification. This notification mandates specific steps for identifying and handling stressed MSME accounts. The decision aims to protect MSMEs from premature NPA classification, ensuring that banks adhere to the prescribed procedure, thus providing relief and support to the MSME sector.
