consortium
had reported that their competent authorities had also
approved the OTS proposal of the petitioner and remaining
5 ARR,J
WP_7329_2018
banks ... Vilas Bank
informed that their competent authority has also
recommended the OTS proposal with the same condition as
of SBI to cancel OTS and file
together
2 1st Instalment for the 10% of the OTS amount
OTS proposal to be by 31st March, 2018
paid
3 Balance payment ... OTS
31.03.2019 amount
FY-2019- 25% of
20-H1- OTS
30.09.2019 amount
FY-2019- 25% of
20-H2 By OTS
31.12.2019 amount
4 Repayment period
with an OTS proposal dated
16.09.2017 and the proposal was sent to M/s Montek Biopharma. On
gaining knowledge about the OTS proposal, the petitioners ... made a
representation dated 19.03.2018 for revival of the OTS proposal. The
respondent-bank rejected the representation and stated that scheme
was valid till
that by a letter dated 17.8.2016, the
petitioners have submitted their OTS proposal for Rs.101 lakhs. By their
reply dated 18.11.2016, the 1st respondent ... Subsequently, by a letter dated 23.11.2016, the petitioners have increased
their OTS proposal from Rs.101 lakhs to Rs.103 lakhs. For this proposal
that by a letter dated 17.8.2016, the
petitioners have submitted their OTS proposal for Rs.101 lakhs. By their
reply dated 18.11.2016, the 1st respondent ... Subsequently, by a letter dated 23.11.2016, the petitioners have increased
their OTS proposal from Rs.101 lakhs to Rs.103 lakhs. For this proposal
respondents to consider the representation of the petitioner dated 11.08.2018 for OTS proposal as this court may deem fit and proper in the facts ... consider the representation of the petitioner dated 11.08.2018 for OTS proposal.
2. It is settled position that the bank cannot be compelled to accept
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
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
directed to
deposit `2 crores. The Court further ordered that if OTS proposal was
made within two weeks, the same shall be decided ... respondent-
bank.
7. The petitioner submitted OTS proposal, the same was rejected
vide order dated 17.03.2015.
8. Aggrieved of the rejection of OTS proposal, petitioner
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
