substantial indulgence
extended by the Bank, including One Time Settlement (OTS)
proposal in the year 2021 and further time under the interim
orders of this ... Time Settlement (OTS) to a
borrower; the grant of benefit under OTS is always subject to
eligibility criteria mentioned under OTS scheme and guidelines
issued
letter directing the appellants to clear the proposed OTS
amount within a short span of time was unjust, arbitrary, and
illegal, and also contending that ... give sufficient
breathing time to the petitioners to pay the proposed OTS
amount covered by Ext.P3, either in lumpsum or in monthly
installments
respondents by way of an OTS for Rs.55 Crores.
But the said OTS proposal was cancelled by the Bank on
01.07.2025, citing the reason ... Article
226 of the Constitution of India, challenging the cancellation of the
OTS, ended in dismissal by the judgment dated
judgment, but later
he approached the Bank with a proposal for One Time
Settlement (OTS), which was duly replied ... amount would come
to Rs.23 Lakhs only. As per the OTS proposal, the
petitioner ought to have paid Rs.35 Lakhs on or before
such circumstances, the Bank is not interested in
OTS proposal, as it would involve releasing of property
before the settlement of the secured loan accounts ... account by availing the benefit of OTS Scheme, by selling a
portion of the secured asset to a proposed prospective purchaser
relation to the secured asset, pending final decision
of the proposal for OTS. The further relief sought for is a writ of
mandamus commanding ... petitioner submitted the Ext.P3 OTS proposal.
The respondents considered Ext.P3 and issued a reply to
dated 23.01.2025 to the petitioner
remitted
an amount of Rs.25/- Lakhs on 31.05.2025. However, the OTS
proposal was cancelled by the bank and intimated the same to the
respondents ... would submit that the Bank is proposing to consider the request
of the respondents seeking the benefit of OTS within a week.
However, the recovery
Indian Overseas Bank on the proposal made in Ext.P6 request
for extending the timeline of the OTS facility sanctioned vide ... Bank on the
proposal made in Ext.P6 request for extending the timeline of the
OTS facility sanctioned vide
request to settle the liabilities by availing One Time Settlement
facility (OTS). The 1st respondent, who is the authorised officer
of the 2nd respondent Bank ... weeks from
03.06.2024 and to make a proposal for One Time Settlement.
Moreover, despite the sanctioning of OTS facility on 21.03.2023
for an amount
classification as NPA, no restructuring proposal has been received.
The writ petitioners approached the Bank for OTS, which was not
acceptable to the Bank, hence
