HC asks bank to reply to bad assets’ PIL

MUMBAI: The Bombay high court on Wednesday gave Central Bank of India, a public sector bank, two weeks to file a reply in response to a PIL seeking action against public sector banks to ensure recovery of loans that have now become non-performing assets.

A bench of Chief Justice Mohit Shah and Justice B P Colabawalla was hearing a PIL filed by leader of a union of Central Bank employees to contend that across India in various public sector banks loans running into thousands of crores of rupees have not been repaid.

Central Bank of India sought time to file a reply and the court granted it two weeks and posted the matter for hearing after three weeks.

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