My family took a 3.5 lakh education loan with a government interest subsidy. The bank was supposed to handle the interest payments, but due to an oversight, they didn’t receive the subsidy. We filed a case against the bank branch, but now the manager is threatening to prolong the proceedings and add compound interest on the missing subsidy until the final hearing. Is it possible to get a court order to stop the bank from charging any interest until the case is decided?

Apni Law
Apni Law
Law Forum › Category: Consumer Court › My family took a 3.5 lakh education loan with a government interest subsidy. The bank was supposed to handle the interest payments, but due to an oversight, they didn’t receive the subsidy. We filed a case against the bank branch, but now the manager is threatening to prolong the proceedings and add compound interest on the missing subsidy until the final hearing. Is it possible to get a court order to stop the bank from charging any interest until the case is decided?
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Apni Law Staff asked 2 years ago

My family took a 3.5 lakh education loan with a government interest subsidy. The bank was supposed to handle the interest payments, but due to an oversight, they didn’t receive the subsidy. We filed a case against the bank branch, but now the manager is threatening to prolong the proceedings and add compound interest on the missing subsidy until the final hearing. Is it possible to get a court order to stop the bank from charging any interest until the case is decided?

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Best Answer

Apni Law Staff answered 2 years ago

Indian law allows for interim orders to prevent further financial harm during legal proceedings. You can apply for an injunction to stop the bank from charging interest until the case is decided, especially if their oversight caused the issue. A court would consider the merits of your claim and potential harm caused by the bank’s actions.

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