Supreme Court refers Kerala's suit against Centre's borrowing limits to five-judge bench, denies interim relief.

The Supreme Court (SC) has referred Kerala's suit against the Centre over borrowing limits to a five-judge Constitution Bench and declined to grant interim relief to the state. The suit challenges the Centre's decision to impose restrictions on the borrowing capacity of states. The SC said that prima facie, when there is over-borrowing by the state, there can be a reduction in the next financial years by the Centre and the balance of convenience, at this stage, lies in favour of the Centre. The state government was seeking interim relief on financial issues in a suit filed against the Centre.

April 01, 2024
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