When the money is involved granting any relief to the defaulting borrowers amounts to this Court rewriting the contract of loan, which is impermissible – Raamanathan Gururajan Vs. M/s ICICI Bank Ltd. – Gujarat High Court
There is a lot of force in the vehement submission of learned panel counsel appearing for the respondent-Bank that the loan contract between the Bank and the borrower is founded on the principle “pacta sunt servanda” and therefore, the parties thereto are required to adhere to the terms thereof whatever be their difficulties, especially when the money is involved; this having not happened, granting any relief to the defaulting borrowers amounts to this Court rewriting the contract of loan, which is impermissible.
