The Bank in the case did not confer the benefit of the One Time Settlement, OTS Scheme to the petitioner, citing a delay in payment of the second instalment within the stipulated time.
The bench headed by Justice Dinesh Kumar Singh in the case observed that the Bank did not raise an objection wherein it is stated that the petitioner delayed the payments of the second instalment or that the OTS Scheme had lapsed.
The court in the case observed that the Bank accepted the second instalment paid by the petitioner under the OTS Scheme, even if it was made with some delay.
The court stated that once the petitioner has deposited the amount and the bank has accepted, it would not be proper for the Bank to say that the petitioner did not comply with the terms and conditions of the two OTS schemes in not making the payment of the second instalment on time.
This story is from the August 20, 2024 edition of The Business Guardian.
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This story is from the August 20, 2024 edition of The Business Guardian.
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