prepayment charges were levied in accordance
with clause 2.8 of the Loan agreement and
also as per schedule of the charges.
The prepayment were levied ... term, prepayment is to be charged irrespective
whether it is a case of transfer or takeover. The prepayment charges would be levied in
terms
foreclosure charges was illegal. He further
submitted that, the District Forum, after considering the true interpretation
of the words foreclosure charges and prepayment charges, came ... prepayment, and, on all
amounts tendered by the borrower, towards prepayment of loan, during the last
one year, from the date of final prepayment
that no such amount
was recoverable from the complainant, as the prepayment charges
and the opposite party by recovering those charges were deficient in
First ... Borrower shall, at the time of such prepayment,
not be liable to pay any prepayment charges if
the loan has been repaid from
charges as Rs.1,200/-,
interest till date of prepayment as Rs.2,824/-, prepayment charges
as Rs.41,250/- calculated at the rate ... Borrower shall,
at the time of such prepayment, not be liable to pay
any prepayment charges if the loan has been
repaid from
Bhilai and
that the complainant paid prepayment charges and processing charges without
making any grievance and prepayment charges are recovered ... borrower is entitled to
prepay the loan as per the rules of HDFC, relating to the prepayment
charges. However, no such rules are
referred
District
Forum file, it was in clear-cut terms, mentioned that prepayment charges would
be 4%, of the outstanding on full prepayment. He further submitted ... loan agreement Annexure-3,
there was no mention of prepayment charges. There was a specific mention, in
this document, with regard to prepayment charges
prepay the loan
amount, outstanding before the expiry of the normal duration thereof. He
further submitted that, accordingly, the Opposite Parties, charged the
prepayment charges ... prepayment charges
and foreclosure charges are interchangeable, and one and the same thing. Mere change of nomenclature,
does not make any difference. Prepayment of loan
relating to
Foreclosure charges reads as under:
Foreclosure charges: Foreclosure
allowed only after six months from the date of disbursement and charges will ... foreclosure charges/prepayment penalties in home loans on floating
interest rate basis.
22. Clearly,
the master circular dated 2.7.2012 exempted prepayment charges in respect
should not charge prepayment
levy/penalty on pre-closure of housing loans.
Clause 4.3 of the loan
agreement deals with prepayment charges, which is extracted ... foreclosure charges/prepayment penalties in home loans on floating
interest rate basis.
19. Clearly,
the master circular dated 2.7.2012 exempted prepayment charges in respect
June 2009, for the prepayment of outstanding loan amount. It
was stated that the Opposite Party, levied prepayment charges ... wanted to pre-close/prepay the entire
loan amount, advanced in their favour, they were required to pay prepayment
charges at a rate higher than
