One Time Settlement (OTS) of Bank Loan is Not a Right of Borrowers

Bijnor Urban Cooperative Bank Limited Vs Meenal Agarwal (Supreme Court of India) The Apex court of the Nation ruled out in a recent judgement (Dec 15, 2021 reg matter of Bijnor Urban Cooperative Bank Limited) – that no court can direct a bank or a financial institution (FI) to offer one-time settlement (OTS) to a borrower when the bank or FI were of the opinion that it would be able to recover the defaulted amount through auction of assets. This is a land mark judgement setting right direction as regards to the entire OTS process where many a times, few borrower some how manage to misuse...