On Dec. 9, SRI GVT extended its suspension of Parate execution law.
SRI GVT approved the proposal to extend the suspension of the Parate execution law.
Document dated Dec. 9, 2024, received from SRI GVT Dec. 11, summarized Dec. 13.
Extension
Public auctions of properties were temporarily suspended until Dec. 15, 2024 via an amendment to the Recovery of loans by banks (special provisions) act (no.4 of 1990).
SME associations requested further extension, SRI GVT recognized need for a balanced solution; instead of property auction, action plan for loan repayment will be developed.
