A demand numberice was thereafter issued by the Bank under Section 13 2 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 SARFAESI Act, for short on 15.03.2017.
Soon thereafter, three proposals were made by the appellants in quick succession on 27.06.2017, 01.08.2017 and 19.08.2017 offering Rs.84, 87 and 90 crores respectively for One Time Settlement OTS, for short .
The amount due to the Bank as on 14.03.2017 was stated to be Rs.106,07,91,644.26/ .
