one time settelement case of maharashtra state finance corporation
PRAMOD
(Querist) 14 June 2011
This query is : Resolved
One time settelement was approved on 31.3.10 against loan of 1500000/(which was taken on 1995) -but MSFC bank demands a interest on loan76 Lacs ???? Can bank demand this interest amount ??Please tell me RBI Rules/Circular About MSFC one time settelement case laws & please advise me on how to tackle this matter???
which is beneficial for me!!!!
RAJU O.F.,
(Expert) 17 June 2011
There is no hard and fast rules pertaining to one-time-settlements of the loans; mostly it is as per the discretion of the banker. RBI gives general guidelines only giving some parameters for settlement of the dues. Better speak with the officials of MSFC for an amicable settlement under OTS.
