score:3
After reasearching on the internet, I came to the conclusion that its better to email the Italian consulate regarding the matter.
I emailed them and they replied saying that they can exceptionally issue a visa till the end date of the BRP card validity (ie our UK visa validity) to facilitate our holiday.
I took the print out of this emailand attached it as proof when I applied through VFS in UK. The VFS agent did infact ask about the email reply when she realized that the BRP card was about to expire in less than 90 days.
NB: All my other documentations where pretty solid as well. Kudos to O.M who helped me figure out the fact to keep every documentation solid.
Upvote:3
The validity requirement on the passport is to make sure that you can leave again even if there are delays.
The validity requirement on the residence permit serves two purposes.
The latter requirement can be overcome if the need to travel came up suddenly and if the consulate agrees that it would be undue hardship for you to apply from your homeland. You have no right to get accepted as a hardship case, but they have the right to consider your application if they want.
The key factor would be that your decision to visit the Schengen area was made after you left your homeland, and then you have to make it plausible that you would leave the Schengen area again. That's easier for an UK resident than for an Indian resident.