Delhi HC dismisses plea by home buyers against loan EMIs without possession of flat

Dated on: Monday 20th March 2023

The Delhi Court has dismissed many home purchasers' petitions asking banks and financial institutions not to impose EMIs till real estate developers handover possession of their particular units. The sanctioned loan money was given straight to the builder, who was expected to pay the pre-EMIs or full EMIs under the scheme. Unfortunately, in this situation, the builders failed to fulfil their obligations of giving possession and paying EMIs, but the banks demanded repayment from the borrowers.

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