time for repayment of the balance amount
under the sanctioned OTS Scheme after imposing a reasonable
percentage of interest on the balance amount due from ... Bank, inter alia,
submitted that the judgment is contrary to the OTS Scheme, on the basis
of which the respondent was directed
petitioner giving him an option to settle the liability under the OTS
scheme; but, he could not apply for the same. Thereafter, the
appellant ... will be available for clearing the liability in terms of
the OTS scheme, which the appellant is ready to avail of. The learned
single Judge
willingness to pay off the entire amount by way of OTS
scheme.
2. Before the writ court, when the matter came up for admission ... that, Ext.P2 and prayer for settling the issue under
OTS scheme were not properly considered in its true spirit by the
respondent bank
Scheme. In this context it may be
remembered that the Bank had refused to make use of the
O.T.S. Scheme of 2015 also ... reasons. The Bank ought to
have utilized the benefit of the OTS Schemes introduced by
the Government in the earlier years so that the complainant
Clause (5) of the scheme deals with eligibility and it states that
eligibility to get the benefit of the scheme will be available only ... years. The benefit of this scheme will not
be applicable to those borrowers who got the benefit of OTS and have
closed the same
through the one time settlement scheme;
(ii) To give a direction to the respondent to fix the OTS
amount and to settle the matter ... service the
loan account properly. Respondent offered a scheme of One Time
Settlement (OTS) to the petitioner, and according to the arrangement,
petitioner paid
bank submitted that, the bank has announced a scheme for One Time
Settlement (OTS) - RINN SAMADHAN 2020-2021 and as per the Scheme ... Scheme is applicable universally to all the borrowers, and there cannot be
any deviation to the scheme.
7. The appellant, under the Scheme was already
paid to the
consortium bankers as per the OTS proposal given by the seller and the
balance amount ... creditor. It is further stated that nothing was heard thereafter
about the OTS proposal submitted. According to the appellant, the debtor
company & secured creditor
Kunhali vs The Tahsildar on 6 January, 2021
Author: S. Manikumar
Bench: S.Manikumar , Shaji
The Chairman vs Union Of India on 8 July, 2020
Author: Shaji P. Chaly
Bench
