On Thursday, the Supreme Court dismissed Supertech Realtors’ appeal against a Delhi High Court’s order that held that the one-time settlement (OTS) entered into between the consortium of banks and the relator is purely a contract and any alteration of its terms by the borrower can be done only through mutual consent.
The company's account was classified as NPA in 2018 after it could not repay a loan of Rs 678 crore that was disbursed by the consortium of lenders comprising Union Bank of India, Bank of Maharashtra, Central Bank of India.
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