Post by Bar and Bench

The Nagpur Bench of the Bombay High Court has held that a borrower or guarantor cannot seek a One-Time Settlement (OTS) to settle their debts as a matter of right, and that courts cannot compel banks to disclose their internal benchmarks for deciding on such matters or force banks to accept such proposals. The Court added that it cannot interfere in such matters, which should be left to the commercial wisdom of banks. Read the Judgment: https://lnkd.in/dQrH55sA The petitioner (Wani) was represented by Senior Advocate Devendra Chauhan, assisted by Advocates Chaitanya Dhruv and Parth Malviya. Indian Bank was represented by Advocates AT Purohit with TY Sharif. RBI was represented by Advocate SN Kumar. Poonam Resorts Ltd was represented by Senior Advocate Akshay Naik with Advocate Rohan Deo. The IRP for the N Kumar Housing and Infrastructure was represented by Advocate CS Dhore. #BombayHighCourt #BankofIndia #bankaccounts #Legalnews #Legalupdate