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
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
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
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
discussing among themselves the settlement
amount in the petitioner's OTS proposal of Rs.38 Crores, in writing resolved
that petitioner's revised ... source of payment of the OTS amount of Rs.42.50 Crores made in his OTS
proposal dt. 13.09.2021. Earlier OTS proposals made by petitioner
