BENGALURU: The High Court restrained PNB Housing Finance Limited from taking any coercive measures against apartment buyers for recovering any amount comprised in loan agreements and tripartite agreements. It directed the RBI, PNBHFL and TransUnion CIBIL to process petitioner-buyers’ claim for reframing CIBIL scores and issuing No Due Certificates. It also ordered Mantri Developers Pvt Ltd to comply with RERA orders, directing MDPL to return contribution amount to the complainants and discharge the loan raised in their names.
Passing the orders while partly allowing petitions by Mudit Saxena and 58 others, some of whom are settled abroad, Justice Krishna S Dixit clarified that the observations in the order should not be construed as constricting PNBHFL from taking up any proceedings for recovering loans from MDPL.
He said if the bank has erred in its business and suffers loss, poor borrowers who wanted to have a shelter, cannot be put to peril, the right of residence being constitutionally guaranteed under Art 19(1)(e). On PNBHFL’s contention that the case of the petitioners should be relegated to ordinary civil remedy, Justice Dixit said the court cannot shirk its responsibility of adjudicating a fit cause brought before it. It cannot divert the litigant to some other legal clinic for treatment, the judge added.
The petitioners have booked apartment units with MDPL in terms of ‘Pre-EMI Scheme’. Not being happy with the pace of construction, they withdrew their bookings. However, in terms of agreement, PNBHFL had disbursed the loan amount directly to MDPL, allegedly without ascertaining the stages of construction.