V.A. RADHAKRISHNAN Vs. THE MANAGER

JUDGEMENT

(1.) THE petitioner availed an education loan of Rs. 7.2 lakhs on 3.1.2007 from the respondent Bank, for undergoing LLM Course in the United Kingdom. The Course was for a period of one year and a further period of one year was provided as the 'cooling period', during which time, no repayment is contemplated. The loan amount has to be repaid within 5 years thereafter. Thus the total loan period was seven years, which expired on 2.1.2014. The petitioner does not dispute the facts and figures. The prayer is to grant all benefits of waiver of interest as per Exts. P5 and P6 Scheme floated by the Bank, pursuant to the Reserve Bank of India guidelines and to extend the benefit of OTS to the petitioner.

(2.) HEARD the learned counsel for the petitioner and the learned Senior Counsel for the respondent Bank.

(3.) THE learned counsel for the petitioner seeks for some indulgence to enable the petitioner to wipe out the liability by way of reasonable installments.