Frontline Retail India Private Limited v. Indian Overseas Bank

$~77 *

IN THE HIGH COURT OF DELHI AT NEW DELHI

+ W.P.(C) 4567/2024 FRONTLINE RETAIL INDIA PRIVATE LIMITED..... Petitioner Through:

Mr. Vijay Kumar with Ms. Rekha Anand, Advocates.

versus INDIAN OVERSEAS BANK ..... Respondent Through:

Mr. Pramod Kumar, Advocate.

CORAM:

HON'BLE MS. JUSTICE MINI PUSHKARNA

O R D E R

% 07.05.2024 1.

Learned counsel appearing for the petitioner submits that the proposal of the petitioner for the purposes of extension of time to deposit the amount under the One Time Settlement ("OTS"), is pending with the respondentbank. He further submits that out of the total OTS amount of ₹7,50,00,000/-, only balance amount of ₹3,37,50,000/- is left to be paid. 2.

Mr. Pramod Kumar, learned counsel appearing for the respondent submits that the proposal of the petitioner for extension of time has already been forwarded to the competent authority, for the purposes of placing it before the Board of the Bank.

3.

Accordingly, it is directed that the proposal as submitted by the petitioner, shall be decided by the respondent-bank expeditiously, preferably within a period of ten weeks from today.

4.

Needless to state, in case the grievance of the petitioner still survives, The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 09/05/2024 at 11:56:30

the petitioner is at liberty to seek his remedies in accordance with law, including revival of the present petition.

5.

With the aforesaid directions, the present petition is disposed of. MINI PUSHKARNA, J MAY 7, 2024 c The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 09/05/2024 at 11:56:30