Smt. Sarikonda Udaya Laxmi v. The District Co-operative Central Bank Ltd.
Case brief
What is this about?
The High Court recorded a memo regarding One Time Settlement (OTS) offered by the Bank, allowing 2% of the auction proceeds and renewable interest, before disposing of the writ petitions quashing the auction notices as illegal and arbitrary.
What did the court decide?
Impugned auction notices quashed; 2% of auction proceeds allowed to petitioners as renewal of OTS in lieu of loan balance.