The Karnataka High Court's historic judgement on a writ petition challenging coercive recovery measures for housing loans by a well-known financial institution is most likely to be remembered by home buyers.
On September 14, the Karnataka High Court issued a writ of mandamus restraint against PNB Housing Finance Limited taking any amount from loan agreements or tripartite agreements.
In addition, the High Court issued a writ of Mandamus directing the Reserve Bank of India, the National Housing Bank, Punjab National Bank Housing Finance Limited and TransUnion CIBIL Limited to process home buyers' claims after refraining from CIBIL scores and issuing a No Due Certificate within 60 days in accordance with the law.
Additionally, it instructed Mantri Developers Private Limited to comply within 60 days with the subject orders issued by the Adjudicating Officer of the Real Estate Regulatory Authority (RERA).
© 2023 Rera News. All rights reserved.