Bombay HC grants interim relief to Transcon Skycity, Transcon Iconica; excludes period of lockdown from 90-day period for NPA calculation

The prime facie order was passed by a Single Judge Bench of Justice GS Patel.
Bombay HC grants interim relief to Transcon Skycity, Transcon Iconica; excludes period of lockdown from 90-day period for NPA calculation
Bombay High Court excludes Lockdown Period while calculating 90 days

Extending ad-interim relief to Mumbai-based Transcon Skycity and Transcon Iconica, the Bombay High Court has prima facie ruled that the period of lockdown will be excluded while calculating the 90-day period for declaration of an account as a non-performing asset.

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