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G. S. SANDHAWALIA, GURBIR SINGH
Rana Chillers Pvt. Ltd. – Appellant
Versus
Union of India – Respondent
| Table of Content |
|---|
| 1. petitioner filed for ots post-rejection. (Para 1 , 2) |
| 2. petitioner declared willful defaulter. (Para 3 , 4) |
| 3. eligibility for ots dependent on default status. (Para 5 , 6) |
| 4. execution stayed until ots decided. (Para 7 , 8) |
| 5. writ of mandamus cannot compel ots benefits. (Para 9 , 10 , 11) |
JUDGMENT
G.S. Sandhawalia, J. -
CM-14506-CWP-2022
After arguing for some time, counsel for the applicant/petitioner does not press the application for modification of the order dated 17.05.2018.
Accordingly, the application stands dismissed as not pressed.
CWP-4562-2016
In the present writ petition filed under Article 226/227 of the Constitution of India, the challenge has been made to the order dated 22/23.12.2015 (Annexure P-12), wherein the claim of the petitioner for being considered for the One Time Settlement (OTS) proposal was rejected. The claim was in pursuance to the OTS (Annexure P-5) and, therefore, the prayer was made to stay the recovery of amount in pursuance to the Civil Court decree.
2. A perusal of impugned order dated 22/23.12.2015 (Annexure P-12) passed by respondent No.2-National Horticulture Board, a Society registered under the Societies Registration Act, 1860
(1) No borrower can, as a matter of right, pray for grant of benefit of One Time Settlement Scheme.(2) No bank can be compelled to accept a lesser amount under OTS Scheme despite the fact that Bank i....
Borrowers cannot claim one-time settlement as a matter of right; financial institutions retain discretion to grant or deny OTS based on public interest and eligibility criteria.
Borrowers must comply with One Time Settlement terms to claim benefits; courts cannot interfere with banks' discretion in such matters.
Courts cannot compel banks to provide benefits of One Time Settlement Schemes if borrowers fail to meet payment obligations under the scheme, preserving the contractual sanctity and banks' discretion....
Point of law: Loans by financial institutions are granted from public money generated at the taxpayer’s expense. Such loan does not become the property of the person taking the loan, but retains its ....
Point of Law : The terms of one-time settlement scheme cannot also be interfered with or varied to the advantage or disadvantage of any person by resorting to the powers under Article 226 of the Cons....
The acceptance of late payments under a One Time Settlement can imply a waiver of strict compliance with payment timelines, and interest clauses remain enforceable.
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