defendant (hereafter called "the bank") as
repayment, or prepayment charges.
2. The plaintiff is involved in the real estate business, particularly ... from the buyers
and depositing the same in the bank.
...... ...... .........
5. Prepayment charges shall be levied only when a company prepays our loans by
borrowing
respondent, whereby the respondent has called upon the petitioner to
remit prepayment charges of ₹9,06,64,095/- plus applicable service
tax in respect ... petitioner on
28.09.2016. The petitioner claims that the demand of such prepayment
charges is arbitrary and unreasonable as the respondent had agreed to
waive such
Bank (2011) 180 DLT 435, holding the levy by banks of
prepayment charges to be illegal and the counsel for the plaintiff was asked ... recovered from the plaintiff processing
charges and also levied pre-closure/prepayment charges from the plaintiff
and which recovery was unlawful and the plaintiff
requested to
pay Rs.5,00,000/- + Applicable Service Tax
towards prepayment charges.
Sr Relationship Manager
Accepted
LPA 416/2018 Page 6 of 10
Ambience ... accept that the
respondent bank had waived its right to receive
prepayment charges as expressly provided in the
sanction letter dated 14.06.2011.
21. The contention
MASTER FACILITY AGREEMENT
dated 21st February 2008
......
ARTICLE 6
REPAYMENT, PREPAYMENT CHARGES AND
COMMITMENT.
......
6.2 PREPAYMENT
The borrower shall not without the prior written approval ... request for
prepayment made by the borrower then the borrower
shall be liable to pay to the bank prepayment charges at
such rate
Facility together with
interest and other dues and charges including prepayment charges as per the
rules of the said Banks then in force. Whether
Cheque bouncing charges and :Rs.1,800.00
other charges
Interest for the month : Rs.2,179.00
Prepayment charges @ 5.618% at
O/S principal : Rs.32754 ... recall notice
Ex.PW1/6 - Postal receipt
Ex.PW1/7 - Prepayment of car loan account
notice
Ex.PW1/8 - Copy of statement
Cheque bouncing charges and :Rs.1,800.00
other charges
Interest for the month :Rs.2,891.00
Prepayment charges @ 5.618% at
O/S principal ... Copy of loan recall notice
Ex.PW1/7 - Prepayment of car loan account
notice
Ex.PW1/8 - Copy of statement of account
foreclose the loan and
HUDCO may accept the same with prescribed prepayment
charges.‖
8. It is, thereafter, that HUDCO filed the petition under Section
20th April, 1997 (Exhibit P-24) the defendant submitted
that the prepayment premium charges were based upon standard
norms set by financial institutions and policies ... amount payable towards prepayment premium. Calculation and
quantification of prepayment premium is subsequent to the
conclusion of the contract. The said prepayment premium could
