which date this Tribunal recorded a
statement of UCO Bank that OTS proposal has already been received and
is under consideration and time ... Gardens, which valuation Reports
were below the OTS offer, which was made. In pursuance of OTS proposal,
M/s Lemongrass has already deposited an amount
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
Brilliant intimating that its OTS proposal was not acceptable.
Brilliant thereafter submitted a further proposal for OTS enhancing the initial
6
offer ... seisin of a proposal towards OTS submitted by Brilliant on 1st August,
2017. The initial OTS proposal dated 1st August, 2017 was enhanced from
three
companies on 03.09.2018 towards upfront amount for
settlement. Another OTS proposal was submitted by the
Appellant on 05.09.2019. Several OTS proposals were
submitted ... dated 05.09.2019,
07.09.2019, 23.09.2019, 16.12.2019, 21.09.2020 and
03.11.2020. In the said OTS proposals, the Corporate Debtor
acknowledged its liability to pay defaulted amount
specifically keeping in view that the Financial Creditor has rejected the OTS
Proposal through various letters dated, 07/05/2018, 16/09/2019 ... limitation.' and that 'It is accepted that the OTS proposal is within three
years from the date the debt was declared
erroneously recording 'OTS' letter
dated 06.10.2016 as acknowledgment of debt and ignoring various 'OTS'
proposals of the Principal Borrower prior ... proposal
submitted by the Principal Borrower which will also be deemed proposal by
the 'Respondent'. Significantly and admittedly, the first 'OTS
Assignment Deed.
The Corporate Debtor submitted an OTS proposal to the Respondent
No.1-Financial Creditor on 21.10.2016 for an amount ... default being 06.09.2013, the application
was barred by limitation. The OTS proposal on which the Adjudicating Authority
has premised the impugned order had been made
deliberations of the agenda items took place
in his presence. The OTS proposal was not
accepted by the Bank and the same was
communicated ... 2022 SBI replied to the
Appellant rejecting the OTS Proposal. On 03/01/2023, the CIRP period was
extended for 45 days
deliberations of the agenda items took place
in his presence. The OTS proposal was not
accepted by the Bank and the same was
communicated ... 2022 SBI replied to the
Appellant rejecting the OTS Proposal. On 03/01/2023, the CIRP period was
extended for 45 days
deliberations of the agenda items took place
in his presence. The OTS proposal was not
accepted by the Bank and the same was
communicated ... 2022 SBI replied to the
Appellant rejecting the OTS Proposal. On 03/01/2023, the CIRP period was
extended for 45 days
