earlier
correspondences made by the
respondent Bank in relation to the
OTS proposal. It was informed that
the OTS proposal of the applicant ... Bank has not assigned any
reason for not accepting the OTS
proposal submitted by the applicant
no.1. The irregularities which were
committed
earlier correspondences made
by the respondent Bank in relation to the OTS
proposal. It was informed that the OTS proposal
of the applicant ... Bank
has not assigned any reason for not accepting the
OTS proposal submitted by the applicant no.1.
The irregularities which were committed
petitioner gave a One Time Settlement
("OTS") on 25.02.2019. The OTS Proposal offered a medium
for raising 17 crores by the petitioner ... sanction/ approval of OTS. It appears that the bank by a
communication dated 29.03.2019, according to the petitioner
accepted the OTS proposal and laid down
petitioner to apply under the OTS Scheme. She points out that the
petitioner's OTS proposal ... Details of OTS Offer Upfront
Amount
1. OTS Offer up to Rs. 10 lacs Upfront 20%
2. OTS Offer more than Rs. 10 lacs
respondents 1 and 2 to re-consider the petitioner's OTS
proposal.
For Petitioner : Mr.R.Neelakandan
For Respondents : Mr.S.N.Parthasarathi
Government ... borrower is aggrieved by the rejection of the One
Time Settlement (OTS) proposal vide a communication dated
14.12.2018 issued by the first respondent Bank
Court, aggrieved by the summary rejection
of the One Time Settlement (OTS) Proposal by the State Bank of India
through the second respondent-Deputy General ... Scheme - SBI OTS 2019 - AUCA- does not apply to
the petitioner. Such rejection of OTS Proposal could be made after giving
an opportunity
ISSUED BY THE RESPONDENT
BANK
EXHIBIT P2 TRUE COPY OF OBJECTION/OTS PROPOSAL
DATED 23/07/2018
EXHIBIT P3 TRUE COPY OF REPLY LETTER DATED ... 2018 RECEIVED FROM THE RESPONDENT
BANK
EXHIBIT P4 TRUE COPY OF OTS PROPOSAL DATED
03/10/2018
EXHIBIT P5 TRUE COPY OF PRINT OUT FROM
Corporate Debtor and negotiations with respect to
rehabilitation scheme/ revival proposal/ OTS were in fact pending when the
Financial Creditor filed application for initiation ... which was not acceptable to the
Financial Creditor as the previous OTS proposal (Rs.51 Crores
approximately) was higher than the proposal made before
land of the Company. The petitioner submitted a one time settlement (OTS) proposal for settling the dues of the Bank at Rs. 40 crores ... will be also at liberty to submit a fresh OTS proposal before the respondent-Bank in terms of the letter of the Bank dated
that the petitioners herein approached the bank, on 21.03.2019, with
a OTS proposal and that the same was submitted to the higher authorities for
sanction ... authorities concerned,
vide letter, dated 01.04.2019, informed that the compromise/OTS proposal is
declined for the reasons that a decree has already been passed
