RAJAT KUMAR TIWARY Vs. RESERVE BANK OF INDIA

JUDGEMENT

(1.) Heard learned counsel for the parties.

(2.) The present Writ Petition has been filled for the following reliefs:-

(3.) Learned counsel appearing on behalf of the petitioners has stated that the petitioners have taken a loan on 14/5/2014 and immediately thereafter, the petitioner No.1 has repaid the loan on 30/8/2014. However, the authorities have calculated the interest for the above period on a monthly basis contrary to the guidelines issued by the Reserve Bank of India in respect of the student loans by all the Banks. Learned counsel has stated that the authorities have till date not taken any steps for recovery of the amounts due to them even though more than nine years have elapsed. Learned counsel has stated that the amounts due which are shown in the loan account of the Petitioner No.1 are time barred and the interest which was calculated between the period from 14/5/2014 to 30/8/2014 i.e. the date of taking loan and the date of the return of the amounts has already expired way-back in the year 2017 itself. Further, it is stated that the action of the authorities in calculating the interest on the interest from 2014 onwards is also time barred and, therefore, the authority could not had written to the Respondent No. 8 about the outstanding loan amount of the petitioner. That based on the letter written by the RespondentBank, the respondents has reduced the CIBIL scoring of the petitioners thereby affecting his right to get loans. Learned counsel has relied on the Judgement of the Hon'ble Supreme Court in the case of Vashdeo R. Bhojwani Vs. Abhyudaya CoOperative Bank Limited and Another reported in (2019) 9 Supreme Court Cases 158. In the aforesaid judgement, the Hon'ble Supreme Court has held as under:-