KIND ATTENTION, SMALL SCALE INDUSTRIALIST AND ENTREPREUNERS

The Reserve Bank of India has produced certain guidelines and directions to all Banking Companies for Rehabilitation and restructuring of all small Scale Industries and other Industries who are suffering from Financial Crisis and who are declared as Non performing Assets Account ( N. P. A Account) by their banks.

Now as per the decision given by Supreme Court of India in the judgement given by Hon'ble A.M. AHMADI, CJ AND S.P. BHARUCHA AND B.N.KIRPAL JJ.) in B.O.I FINANCE LIMITED --Appellant V/s CUSTODIAN AND OTHERS -Respondants. The Reserve Bank of India's Guidelines and directions became binding on all Banking Companies. ( Case reported in 1997 (10) Supreme Court Cases) page 488. ( Relevant portion is on page 491 ).

Now, therefore all the Small Scale Industries and Entrepreneurs can request to their Bank's as per R.B.I Guidelines for Re- Schedulment and Rehabilitation and restructuring of their Finance which the Bank has declared N.P.A Account, and the Banking Institutions has to follow the said guidelines as per above stated judgement because the Guidelines and directions of R.B.I becomes binding on the said Banking Institutions.

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