The Supreme Court on Monday allowed SKS Microfinance to resume operations in Andhra Pradesh.
A Bench headed by Justice TS Thakur in an interim order allowed the microfinance institution to resume operations after its senior counsel Harish Salve argued that the firm is complying with all the directions issued by RBI. The court issued notice to Andhra Pradesh and others after ordering that no coercive steps should be taken against SKS if it complied with all orders.
SKS had challenged the Andhra Pradesh High Courts February judgment that dismissed its plea against the Andhra Pradesh Microfinance Act,2010. FE