respect of the all the loan accounts availed by him and others. Taking into consideration of the OTS application of the borrower, the respondent had allowed the OTS application of the borrower in respect of the loan account of M/s. S.R. Retail Zone Pvt. Ltd for an amount of Rs.35,67,388.50/- vide its letter dated 13.10.2022 which has been annexed by the appellant in this S.A. In the said letter of approval of OTS dated 13.10.2022 under Annexure-B it has been categorically mentioned that the up-front amount is Rs.5,36,000/and the said amount is to be paid within one week from the date of receipt of communication of the OTS sanction. It has also been stipulated in the said letter of approval that the borrower/guarantor to arrange for balance settlement amount within three months from the date of receipt of communication of OTS sanction and submit their/your acceptance within 10 days from receipt of the said letter failing which the OTS stands cancelled. So, it is amply clear that for getting the benefit of the OTS facility as per the letter of approval of OTS dated 13.10.2022, the borrower/guarantor has to deposit the entire upfront amount of Rs.5,36,000/- within one week from the date of receipt. But in the instant case, the borrow had paid an upfront amount of Rs.3,00,000/- out of the total upfront amount of Rs.5,36,000/- but failed to deposit the rest upfront amount of Rs.2,36,000/- within the period stipulated in the OTS approval letter though the borrower and the appellant had received the OTS sanction letter on 20.10.2022.
