Rajesh Monga vs Housing Development Finance ...

The Supreme Court held that the terms of the loan agreement must align with the assurances given by the lender regarding the interest rate, specifically referencing the Reserve Bank of India's Prime Lending Rate. The Court found that the appellant was misled into believing that the interest rate would only change in accordance with RBI's adjustments, contrary to the agreement's terms allowing the lender to adjust rates independently. The appeal was dismissed, affirming the NCDRC's decision that the lender acted within the contractual terms despite the appellant's claims of misrepresentation.