No Upfront Payment, No OTS –SC Favors SBI in ₹7 Cr Recovery Dispute

Assistant General Manager State Bank of India & Anr. Vs Tanya Energy Enterprises (Supreme Court of India)

No Upfront Payment, No OTS – Apex Court Favors SBI in ₹7 Cr Recovery Dispute- Borrower’s OTS 2020 Application Invalid Without 5% Upfront Deposit; SBI Appeal Allowed, HC Orders Set Aside

The Supreme Court has held that an application under SBI’s One Time Settlement (OTS) 2020 Scheme is invalid if not accompanied by the mandatory 5% upfront payment of the settlement amount. The Court set aside the orders of the Andhra Pradesh High Court which had directed SBI

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