BHAGAT SINGH Vs. SRG HOUSING FINANCE LTD.

JUDGEMENT

(1.) The present writ petition has been preferred with the following prayers:-

(2.) The brief facts of the case are that the petitioners took a home loan facility from the respondent- SRG Finance Limited, (for short, hereinafter referred to as "SRGFL"), against the assets creating security interest in favour of the respondent- SRGFL. The petitioners were granted home loan facility of Rs.14.00 lacs in two installments. The petitioners deposited regular EMIs against the loan of Rs.14.00 lacs and a sum of Rs.10,76,067.00 was deposited by the petitioners upto 30/11/2022 and a sum of Rs.5.00 lacs and odd was due in principal and interest thereon.

(3.) As per the terms and conditions of the loan agreement as well as Loan Sanction Letter, the loan amount was required to be deposited in 120 installments of EMIs of Rs.30867.00 per month including the interest. The respondent in point No.6 of the sanction letter (Annex-1) excluded the moratorium period thereby, breaching the terms of Home Loan Agreement.