OTS offer
of Rs.1205 lakhs on or before 31.03.2016, the respondent-bank
was directed to grant them time and consider the OTS proposal ... upfront amount
of 10% on the OTS offer for the purpose of processing the OTS
proposal as per the norms prevailing in the Bank
from withdrawing or
cancelling the OTS? (paras 91 to 131)
VI. Whether Pacquik concealed material facts in its OTS
proposal and committed fraud on PICUP ... whereof reads thus:
"3rd OTS APPROVAL COMMITTEE MEETING
ITEM NO._____
M/S PACQUIK INDUSTRIES LTD. :
CONSIDERATION OF OTS PROPOSAL
xxx xxx xxx
5. OTS
availed One Time Settlement (OTS)
as announced by the banks and the said OTS proposals
were accepted by the banks as per the guidelines issued ... Reserve Bank of India, while availing OTS
by the petitioners.
(vii) The banks, having accepted the OTS proposals submitted
by petitioner No.4 and received
after the accounts were
declared as NPA on 13.11.2014.
(e) The OTS proposal is dated 01.08.2018 i.e. long
after the expiry of the prescribed ... First OTS
letter offered by the Corporate Debtor was dated 06.06.2018 though it is the
case of the Respondent that the OTS proposal
availed One Time Settlement (OTS)
as announced by the banks and the said OTS proposals
were accepted by the banks as per the guidelines issued ... Reserve Bank of India, while availing OTS
by the petitioners.
(vii) The banks, having accepted the OTS proposals submitted
by petitioner No.4 and received
approving the above OTS 15 with
Section 7
Applicati
on/
Page No.
173
29.03.201 Revocation of the OTS proposal dated 10.01.2019 Exh. O-
9 owing ... approving the above OTS Application/
Page No. 173 of
the Appeal
Paper Book
29.03.20 Revocation of the OTS proposal Exh. O-15 with
19 dated
Time Settlement9 proposals
submitted by the Corporate Debtor which were
duly considered. The first proposal of OTS is dated
16.03.2017 and the second proposal ... documents on record.
4.3. Respondent No.2 relies upon these two OTS
proposals as also the Balance Sheet for the
Financial Year closing
OTS amount has to be deposited within 30
days of receipt of intimation of acceptance of OTS
proposal to the party. This amount will ... purpose of
considering its proposal for settlement. If the proposal is accepted, the
upfront is adjusted in terms of approved OTS and in case
letter dated 30.10.2023
rejecting the petitioner's One Time Settlement (OTS) Proposal dated
17.10.2023. The petitioner is the promoter of the Insolvent
Entity ... OTS
submitted by the petitioner in terms of the RBI Framework.
2. R.1, which rejected the petitioner's OTS proposal
recovery than the
OTS amount. Accordingly, Appellant was informed, vide letter dated
6
23.01.2018 issued by Regional Manager, that OTS proposal of the Appellant
cannot ... more revenue than the OTS amount and, accordingly,
Appellant, vide its letter dated 23.01.2018, was communicated that its OTS
proposal cannot be considered till such
