https://www.taxtmi.com/caselaws?id=769033 Delhi HC disposed of petition regarding HUDCO loan recovery and OTS scheme benefits. Petitioners contested matters across multiple forums over 15 years, mounting dues significantly. Court upheld validity of recovery certificate dated April 1, 2016 with February 20, 2019 default clause, noting contractual interest rate of 15.5% per annum with quarterly rests. Petitioners missed four-month OTS acceptance period and cannot claim benefits post-default. However, considering prolonged litigation, HC reduced interest to simple rate of 14% per annum on outstanding amount until petition notice date of January 23, 2020, which petitioners agreed to pay. en-us Tue, 25 Mar 2025 00:00:00 +0530 Fri, 18 Apr 2025 08:38:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769033 Delhi HC disposed of petition regarding HUDCO loan recovery and OTS scheme benefits. Petitioners contested matters across multiple forums over 15 years, mounting dues significantly. Court upheld validity of recovery certificate dated April 1, 2016 with February 20, 2019 default clause, noting contractual interest rate of 15.5% per annum with quarterly rests. Petitioners missed four-month OTS acceptance period and cannot claim benefits post-default. However, considering prolonged litigation, HC reduced interest to simple rate of 14% per annum on outstanding amount until petition notice date of January 23, 2020, which petitioners agreed to pay. Case-Laws Indian Laws Tue, 25 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769033