Extension of time for completion of OTS cannot be claimed as right by borrower

Aseem Gaind Vs Axis Bank (Punjab & Haryana High Court) Admittedly, even according to the petitioner, his business has been closed since 2015. The reason for closure of the petitioner’s business is only indicated as ‘unavoidable and unforeseen circumstances’, and no particulars are forthcoming. The illness of petitioner’s father is also admittedly during the period 2015-16.That cannot be given as a reason for non-compliance of the One Time Settlement (OTS), offered much later vide letter dt. 31.03.2018. Even according to the decision in the case of Anu Bhalla and Another, the borrow...