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Indian Laws - Highlights / Catch Notes

Home Highlights December 2020 Year 2020 This

CIRP Proceedings - Loans by financial institutions are granted ...

Indian Laws

December 11, 2020

CIRP Proceedings - Loans by financial institutions are granted from public money generated at the tax payers expense. Such loan does not become the property of the person taking the loan, but retains its character of public money given in a fiduciary capacity as entrustment by the public. Timely repayment also ensures liquidity to facilitate loan to another in need, by circulation of the money and cannot be permitted to be blocked by frivolous litigation by those who can afford the luxury of the same. - HC

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