Chennai, first respondent herein, and was informed that the period of OTS Scheme would be extended, if the petitioner makes the payment ... dues under OTS. However, sale of the property, which was concluded prior to 10.02.2017, is valid and OTS scheme does not nullify the same
benefits of the OTS, if they had submitted the application for consideration of their OTS within time limit specified in the Scheme?
Point ... Debt Recovery Tribunal had nothing to do with the OTS proposal or the OTS Scheme as the scheme was introduced only in the month
appellant was given option to avail the One Time Settlement (OTS) scheme by settling the loan amount of Rs.86,49,596/- on or before ... before 31.03.2018 and appellant has failed to respond to the OTS scheme proposed by Pondicherry Industrial Promotion Development and Investment Corporation Limited
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
recovery of a sum of Rs.17,69,011/-. Subsequently, OTS
scheme was floated by the Reserve Bank of India. As the petitioner was
covered ... OTS scheme, he was invited for recovery camp held on
18.08.2003. Through negotiations, the petitioner agreed to pay
Rs.14,00,000/- towards full
representation dated 4/4/2016 to get the benefit of OTS Scheme by passing appropriate orders to the second and third respondents and also direct ... second and third respondents to implement the OTS scheme benefits to the petitioners.
For Petitioners ... Mrs.S.Gomathy Nayagam,
Senior Counsel
bank and requested to accept the balance amount, under the OTS scheme and offered to pay interest, for the amount of Rs.15.25 lakhs ... balance amount of Rs.8.25 lakhs towards full quit of the OTS, and also filed S.A.No.61 of 2008 before the Debt
respondent to effect the settlement in accordance with the SBI OTS-SME 2010 Scheme as contained in its letter dated 18.03.2010 and unconditionally restore physical ... therefore, as per clause 1.7 of the OTS Scheme offered by the bank, the petitioner has to be excluded from extending the benefits
