Supreme Court of India
State Bank of India v. Arvindra Electronics Pvt. Ltd.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
3 Supreme Court benches have cited this judgment.
What the Court ordered
In view of the above and for the reason stated above, the impugned judgment and order passed by the High Court granting further time to the respondent – borrower to make the balance payment under the OTS Scheme in exercise of powers under Article 226 of the Constitution of India is unsustainable and the same deserves to be quashed and set aside and is accordingly quashed and set aside.
Judgment, page 11
From the headnote
Bank/Banking: One Time Settlement Scheme (OTS) – No borrower can, as a matter of right pray for a grant for the benefit of one time settlement scheme – No writ of mandamus can be issued by the High Court in exercise of Art.226 of the Constitution of India, directing the financial institution/bank to positively grant a benefit of OTS to a borrower – The grant of benefit of OTS Scheme is subject to the eligibility criteria and the guidelines issued from time to time – In the instant case, State Bank of India sanctioned a cash credit in favour of the borrower which was classified as NPA in 2015…
Authorities it was built on
Where later benches applied it
- 2025 Assistant General Manager State Bank of India & Anr. v. Tanya Energy Enterprises through its Managing Partner Shri Alluri Lakshmi Narasimha Varma
- 2024 Orissa State Financial Corp.. v. Sukanti Mohapatra.
- 2023 M/s South Indian Bank Ltd. & Ors. v. Naveen Mathew Philip & Anr. Etc. Etc.
Of those, 1 referred to · 2 mentioned
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