Supreme Court has dismissed a petition seeking direction for the public sector banks to invoke personal guarantees of the defaulters.
On July 21. the apex court had asked the finance ministry to furnish a reply onto why state-owned banks have not invoked personal guarantees of big corporate loan defaulters.
The petitioners had claimed that public sector undertakings are not complying with the current circular. Then SC asked them to make a representation to the ministry on the matter within two weeks and it had also ordered the ministry to respond within four weeks of receiving the representation.
More details awaited.