The authorized officer of the NBFC assured the Court on March 22 that they had not agreed to the condition put by the borrowers since there was no such restriction imposed by the Court in its March 13 order.
The Court was also told that when the property’s possession was handed over to the NBFC, there were about 30-40 persons present as well as a Member of Parliament (MP) and a Member of the Legislative Assembly (MLA). In such circumstances, the authorised officer was forced to accept the borrowers’ letter which contained the condition.
The NBFC, however, clarified that it has not acceded to the condition but had merely acknowledged the receipt of the letter.
Source: Barandbench
