https://www.taxtmi.com/caselaws?id=271296 The court held that the State could modify the One Time Settlement Scheme (OTS) in the interest of public policy, limiting benefits to non-profit-making companies. However, the modification could not have retrospective effect without statutory provision. The State and the Corporation were bound by promissory estoppel, preventing them from altering the terms of the OTS agreement. The petitioners were entitled to the benefits of the OTS scheme, and the Corporation was directed to implement the OTS where payments were made, falling back on the Financial Collaboration Agreement where necessary. en-us Wed, 23 Dec 2015 00:00:00 +0530 Tue, 02 Feb 2016 10:08:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271296 The court held that the State could modify the One Time Settlement Scheme (OTS) in the interest of public policy, limiting benefits to non-profit-making companies. However, the modification could not have retrospective effect without statutory provision. The State and the Corporation were bound by promissory estoppel, preventing them from altering the terms of the OTS agreement. The petitioners were entitled to the benefits of the OTS scheme, and the Corporation was directed to implement the OTS where payments were made, falling back on the Financial Collaboration Agreement where necessary. Case-Laws Indian Laws Wed, 23 Dec 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271296