‘Public Policy’ Rule Can’t Be Invoked To Facilitate Loanee Avoid Legal Obligation To Repay Loan: SC [Read Judgment]

The loanee has a pious duty to abide by his promise and repay. Timely repayment ensures facilitation of the loan to others who may be needy, the court said.The Supreme Court, in Himachal Pradesh Financial Corporation vs. Anil Garg, has held that the concept of rule of ‘public policy’ cannot be invoked to facilitate a loanee to avoid legal obligation for repayment of a loan.In the...