Kerala High Court | Writ Jurisdiction Cannot Compel Bank to Continue One Time Settlement | OTS Terms Binding, Cancellation for Non-Compliance Valid, SARFAESI Mechanism to Be Invoked
Safiya Malik The High Court of Kerala Division Bench of Justice Anil K. Narendran and Justice Muralee Krishna S. has held that a party cannot invoke the writ jurisdiction under Article 226 of the Constitution to compel a bank not to cancel a One Time Settlement (OTS) facility. The Court ruled that contractual conditions under an OTS sanction letter, including automatic cancellation for...