2020 (6) TMI 759
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....i, learned counsel for the petitioner. 2. Issue notice, returnable three weeks. 3. The petitioner to take steps for service of notice upon the respondents by registered post with AD within three days. The petitioner is also permitted to serve notice upon the respondents through dasti. 4. The petitioner had taken some loan by way of cash credit and term loan from the respondent-Bank to car....
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....he lockdown due to Covid-19. In that regard, the petitioner received a letter from the Bank directing the petitioner to deposit the second installment on or before 10.05.2020 in order to keep the approved OTS alive. The relevant portion of said letter reads as under:- "You have already deposited the upfront amount of Rs. 20.00 lakhs and your next installment of Rs. 50,88,751.00 is due on ....
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....- by 09.08.2020 as intimated through e-mail on 08.05.2020. However, the said request of the petitioner was rejected by the Bank by an e-mail of the same date. The petitioner submits that there are Circulars by Reserve Bank of India for re-scheduling of repayment providing moratorium of three months as notified by the Reserve Bank of India on 27.03.2020 and 23.05.2020. 7. Under the circumstances....


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