[COVID-19] Delhi HC allows HDFC Bank to deduct instalment amount demanded during 90-day moratorium from Indiabulls' existing FDR

HDFC
HDFC

While hearing a petition by Indiabulls Housing Fianance Ltd to restrain HDFC Bank from recovering any loan amount during the moratorium period imposed by RBI, the Delhi High Court has allowed HDFC Bank to deduct a loan instalment amount of Rs 90 crores from Indiabulls' Fixed Deposit which it held as security. (Indiabulls Housing Finance Ltd vs HDFC Bank)

The Court has, however, clarified that HDFC Bank would not insist on replenishment of the amount till the next date.

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