The Kerala High Court has held that borrowers who breach the terms and conditions of the One Time Settlement Scheme, cannot be permitted to seek directions from the Court to compel the bank to honour its obligations under the OTS Scheme. If the borrower is not in a position to or unwilling to act in accordance with any of the …
No writ of mandamus can be issued by the High Court in exercise of powers under Article 226 of the Constitution of India, directing a financial institution/bank to positively grant the benefit of One Time Settlement Scheme to a borrower, the Supreme Court has held in a judgment delivered on Wednesday.The bench comprising Justices MR Shah and BV Nagarathna observed …
