Loan agreement

Unless the agreement/deed is studied, it is very difficult to understand the query.  However, the contract need not be in writing and to look into the nature of the transaction and other requisites of a valid contract has to be studied.  Appears to be an academic query.

Generally an agreement As per Section 10 and Section 25 of the Indian Contract Act, 1872, consideration is essential in a valid contract. In simple words, no consideration no contract. Hence, you can enforce a contract only if there is a consideration.

Show the document to a local prudent lawyer for analyses, opinion, adivse and necessary proceeding.

How there is 'consideration' in a loan agreement?

@Mr.Kashyap,

It is against the discipline of the forum to intrude into someone else's post and then post an entirely different query to the original post.  One has to post replies to the original query alone.  Mr. Hardasarao's query is different from yours.

If you want guidance, you have to open a fresh query in your name.  Please search in google for minor clarifications and academic queries.  A moratorium is a period wherein borrowers need not pay the installments when there is no income generation in business and this is for a specific period and must be permitted by lender or lending bank or Government.

For example, the banker may lend to a large industry for acquiring machinery and disbursement to the supplier is made very early.  The installation and functioning start after several years and there is no income generated during such gestation period.  The borrower is permitted to pay repayment installment only after the unit commences functioning after two to three years.  In Covid, many industries were closed and many borrowers could not pay installments in the loan account.  Generally, when three consecutive installments are delayed it is treated as a Non-performing advance and penal interest will be levied.  Likewise, due to famines and floods, the crops may not yield any returns.  In such calamities, understanding the real nature of the disability, the government may advise banks to collect crop loans, etc., after the next crop in installments.  This postponement of repayment to a further period is called moratorium in Bank parlance.  In general, a moratorium means cessation of transactions due to some calamity or order which is beyond one's disability and not within the hands of individuals.

Google is the best guru in the world.  Make a habit of google search for more details.