Petition could not seek implementation of ‘One Time Settlement Scheme’ on failing to pay 5% upfront amount: HC
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- Last Updated on 23 July, 2021
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Case Details: Rishika Cottons (P.) Ltd. v. Union of India - [2021] 128 taxmann.com 96 (Telangana)
Judiciary and Counsel Details
- A. Rajasheker Reddy and Dr. Shameem Akther, JJ.
Facts of the Case
The Respondent bank offered a One Time Settlement (OTS) scheme to the petitioner, where under petitioner was required to pay 5 percent upfront amount on or before 23-11-2020, for processing OTS proposal of the petitioner.
However, the respondent bank closed the OTS scheme as the petitioner failed to pay the upfront amount within time. On being aggrieved, the Petitioner disputed the same and sought for a direction by way of the writ petition to implement the OTS scheme in the Court of Law.
High Court Held
The HC submitted that the OTS scheme is non-discretionary and non-discriminatory and once the petitioner fails to adhere to the time stipulated, it would not be entitled to benefit under the scheme. Thus, the petitioner had not even paid 5 percent upfront amount within time stipulated in OTS, it would not be entitled to seek for implementation of the said scheme, and the writ petition was to be dismissed.
Cases Review
List of Cases Referred to
-
- Prince Corrugated Packaging v. Andhra Bank [Writ Petition No. 5685 of 2019, dated 26-9-2019] (para 4)
- K. Saraswathy v. P.S.S. Somasundaram Chettiar [1989] 4 SCC 527 (para 9)
- Sardar Associates v. Punjab & Sind Bank [2011] 3 taxmann.com 42 (SC) (para 10)
- M. Appa Rao v. Dy. General Manager – Cum-Authorized Officer [W.P. No. 20464 of 2017, dated 15-2-2018] (para 26)
- Swetha Exports v. Bank of India [2017] 86 taxmann.com 171/144 SCL 373 (Telangana) (para 27)
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