The working capital facilities have already been permitted a deferment of 90 days on re payment of interest in respect of all of the such facilities outstanding as on March 1, 2020. The accumulated interest for the duration shall be paid following the expiry for the deferment duration.
Is it feasible for the lending company not to offer a moratorium?
Theoretically, truly yes. But, borrowers can take benefit of the Ministry of Law round that the COVID interruption is an instance of вЂњforce majeureвЂќ and FMC will not bring about a contractual breach. Thus, loan providers is supposed to be practically forced into giving the exact same.
Could be the lender necessary to give the moratorium to any or all types of borrowers?
Because the grant for the moratorium is wholly discretionary, the lender may grant different moratoriums to various classes of borrowers in line with the level of interruption for a category that is particular of.