OTS even though it was way more than what the Applicant could afford but it agreed to the same because at that time there was an investor who had evinced interest to infuse the requisite funds in the Company. This revised OTS was originally required to be complied with by 31.03.2025. The Applicant had also deposited Rs.SO lakh towards the same on 15.02.2025. It is pertinent to state that even this enhanced figure was suggested by the Bank itself, during the discussions held with the higher official of the 13ank at Mumbai, as stated supra and was not something that the Applicant had come up with itself. To the utter shock and disbelief of the unsuspecting S.A. Applicant, the Bank rejected the said revised OTS proposal after a long delay of over 3 months vide communication dt. 06.05.2025, for no justifiable reason. This delay/ indecision for over 3 months led to the investor turning away, to the detriment of the Company. In fact, the Bank ought to be put to strict proof to explain why the revised OTS proposal of the Applicant dated 27.01.2025 was arbitrarily rejected despite having been submitted in terms of the discussions held with the higher authorities of the Bank. The relevant note-sheets or minutes, if any, of the Bank that led to the aforesaid rejection could throw a lot of light into the sudden change of heart and rejection of an otherwise agreeable OTS by the Bank. However, the Bank has chosen not to annex the same with its Reply that betrays the truth that the aforesaid rejection of the revised OTS is completely whimsical, arbitrary, unreasonable, capricious and reeks of highhandedness and lack of transparency and fairness. Separately, it is submitted that it is trite that mere submission of OTS, which is a sort of compromise, does not tantamount to acquiescence or acceptance of any condition of the other side, till such OTS is accepted by the bank/ financial institution. The OTS proposal is made without prejudice lo the rights of the S.A. Applicant and mere submission
