UMA J.N. Vs. BANK OF BARODA

JUDGEMENT

(1.) THE petitioner had availed of an educational loan in which, she says, a substantial portion of the amounts were paid and there are still over due amounts, pending which a Scheme has been introduced in the Interim Budget presented by the outgoing Minister of Finance; wherein a moratorium for all educational loans taken up to 31.03.2009 has been enforced and there was a proposal to take over the interest dues outstanding as on 31.12.2013 on condition that the borrower would be liable to pay the interest for the period after 01.01.2014.

(2.) THE learned counsel appearing for the respondent Bank would submit that there is only an amount of about Rs.40,000/ - remaining due in the petitioner's account. As per the scheme, the petitioner, subject to the Nodal agency being the Canara Bank, approving the same; would be entitled to deduction of interest. However, for submission of the Scheme before the Nodal agency, the petitioner is obliged to produce the documents as required by the Scheme for granting relief to educational loans.

(3.) THE petitioner, however, shall produce all the documents required for submitting a proposal to the Nodal agency who has to decide on the grant of relief on interest in education loans; before 20.06.2014. Any steps taken by the Bank to recover amounts from the petitioner in the above circumstances will be kept in abeyance for a period of two months. Writ petition is disposed of with the above directions.