approached the complainant Bank
in November 2002 and entered into a restructuring/
settlement agreement with the accused ... cheques would be
honoured and loan would be repaid as per the
restructuring agreement between the parties and
thereby induced the Bank not to take
with a liberty to both the parties to arrive at an amicable settlement. The respondent bank, however, will be entitled to proceed further in accordance ... interest subsidy, and to consider the proposal for One Time Settlement/restructuring. Further request has been made on 27/3/2017. On 4/12/2017
made an
application to the respondent bank requesting to accept
One Time Settlement proposal and further requested to
grant some installments for payment ... sanctioned by
its Board of Directors. The terms and conditions of
restructuring/settlement were incorporated in the said
communication.
3.5. Subsequent to acceptance
paragraph 19.14 of the Bipartite Settlement dated October 19, 1966 has been modified. While in the 1966 Bipartite Settlement, the Chief Executive Officer ... enquiry officer, a departure has been made in the 1979 Bipartite Settlement restructuring the power of the Chief Executive Officer to appoint the disciplinary authority
communication dated 20.11.2019. Although there is some
correspondence towards a settlement, no settlement fructified and a notice
under Section 29 of the State Financial Corporations ... petitioners to submit various
documents in support of their proposal for settlement/restructuring of the
loan. Mr. Mata submits that despite the aforesaid communication
particularly when there is no
demonstrable legal right to claim restructure/ settlement of loan amounts.
The afore-said arrangement was based on mutual agreement between ... restructuring is no longer a prudent mode of recovery, as per its commercial
wisdom, there is no reason for granting the relief as sought. Settlement
permitted the petitioner to approach the bank for one-
time settlement/restructuring/rescheduling the loan
payment, it is the admitted case of the petitioner that ... petitioner did not approach the bank for one-time
settlement/restructuring/rescheduling of the loan.
2. The learned counsel appearing for the petitioner
submits that
said
Committee, after hearing the petitioner, allowing either
restructuring or One Time Settlement of the loan account.
Sri.Jawahar Jose, therefore, prayed that the petitioner ... Bank, to impress upon them her
entitlement to either restructuring or One Time Settlement of
the account.
3. Sri.Jawahar Jose, the learned counsel
Canara Bank vs Gtl Infrastructure Limited on 25 October, 2024
NATIONAL COMPANY LAW APPELLATE TRIBUNAL
with CDR, the Respondent continued to make payments in respect
of the restructured debt and made various payments towards interest, principal,
security sale and equity ... Lenders and the
Respondent decided that restructuring the debt was no more viable and a one-
time negotiated settlement involving sale of the various assets
