only) by 31.03.2022 and thereafter,
make payments as per Annexure A OTS proposal. He further
submitted that the balance amount would be paid ... that there is some slight deviation from the OTS proposal.
3. While ordering notice, this Court directed Mr. Sunil Shankar,
the learned counsel appearing
Overseas Bank,
Circle Office, Chennai - 600 002.
Dear Madam,
Sub: Revised OTS Proposal.
Please refer to the request made by us and the Courts observation ... property. This may be taken as an initial payment for the OTS proposal.
We will settle this amount in three instalments within five months
Writ of Mandamus, directing the respondent bank to restore the OTS Proposal, dated 27.09.2016, vide letter Ref.ARSPL/UCO/OTS/2709, by granting further time ... Time Settlement Proposal.
Thanking you,
Yours faithfully,
For Rathna Stores Private Ltd.,
Sd/-
Director.
9. Proposal for One Time Settlement/Revised Proposal, extracted supra, shows
offered to be settled under OTS was Rs.56,86,424/-. As per Clause VII of the OTS proposal dated 09.01.2017 sent by SBI, Chennai ... willingness to settle the dues on the terms and conditions of OTS proposal and 15 days time expires on 24.01.2017.
40. At paragraph
further, the petitioner company was compelled to submit One-Time Settlement (OTS) proposals, dated 05.05.2016, to the respondents-bankers. However, the said OTS proposals were ... Crores of the proposed OTS, if the respondents-banks agree, upon the OTS proposal of Rs.16 Crores, within 90 days, from such date
direct the 1st to 3rd respondents to act upon the OTS proposal dated 07.04.2017 submitted by the petitioner and settle the issue and release ... Thasildar dated 06.04.2018, calling for a report and contending interalia that OTS proposed on 07.04.2017 has not been honoured, instant writ petition has been filed
senior counsel for the petitioner submitted that without disclosing the fresh OTS proposal sent on 29.11.2017, bank has filed ... Learned senior counsel submitted that subsequently, the bank has forwarded OTS proposal, vide letter dated 21.02.2018 and in the abovesaid circumstances, the order made
OTS proposal to
be submitted to the secured creditor by them. Thereafter, on 15.2.2018,
the company submitted the proposal of OTS along with ... paid to the
consortium bankers as per the OTS proposal given by the seller and the
balance amount
balance amount payable to you as per the OTS proposal dated 1st January 2004 approved by IDBI, though there has been temporary set back ... terms and conditions stipulated therein stating the acceptance of the OTS proposal envisaging payment of Rs.11.60 crores towards full and final settlement
quash the same and direct the 2nd respondent to consider the OTS proposal, dated 09.12.2016, as per the RBI Guidelines, under the OTS Scheme ... petitioner and direct the 2nd respondent to consider the OTS proposal, dated 09.12.2016, as per the RBI Guidelines, under the OTS Scheme, for SME Accounts
