Deal with non-performing assets, government told (Lead)

August 18th, 2010 - 1:26 pm ICT by IANS  

New Delhi, Aug 18 (IANS) The Supreme Court Wednesday said the recovery of mounting non-performing assets was beyond its jurisdiction and that the government and the legislature should deal with it.
Justices J.M. Panchal and A.K. Patnaik said this while disposing a public interest litigation (PIL) filed by NGO Common Cause.

Writing the judgement, Justice Patnaik said they expected the expert committee headed by the Reserve Bank of India governor to suggest effective measures, legislative and administrative, to deal with the problem.

The court hoped the central government would make the Serious Fraud Investigation Office a statutory body.

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