o t s offer by sfc can be revised ?
Ramesh
(Querist) 08 March 2014
This query is : Resolved
Dear experts of the Forum,
In my case, State Financial Corporation (SFC)has accepted for One Time Settlement(OTS) and fixed Rs.3.00 lakhs for dues of an sick and closed Industry. As an acceptance of the same i have made a part payment of Rs. 75,ooo.oo . Two days back i have received a letter from from Branch office asking me to appear before them for a discussion for upper revision of OTS amount settled(Earlier).The reason shown is, The committee now wants to revise the same!
I request forum experts to kindly suggest me, the action /options i have to tackle this issue?
Thanking you ALL and expecting an URGENT solution PLEASE.
Y V Vishweshwar Rao
(Expert) 09 March 2014
OTS-is One Time Settlement-acceptance /agreement- between Industry and SFC - to be reached & finally concluded by SFC - Industry paid part amount of Rs;- 75,000-00 as against Settled ? ( Conditionally Settled ?) amount of Rs;- 3,00,000-00- what are the other conditions in the OTS / Settled OTS /Agreement-to be verified - OTS Proposals whether subject to approval of Higher Authorities/Committee of SFC ?.To be verified and concluded
