On your reference I will get details of Oriental Bank Of Commerce, Special One Time Settlement Scheme (OTS) for NPA Accounts in MSME Sector so that you can go through it.

Here telling you details of scheme

Coverage of the Scheme
The approved policy will also cover eligible cases in which the Bank has initiated actions under SARFAESI Act, cases pending before Courts/ DRTs /Lok Adalat and decreed accounts subject to obtaining consent decree from the Court/ DRT/ Lok Adalat.

The approved OTS scheme will cover all NPAs classified as “doubtful” and “loss’’ as on 31.12.2011 in respect of Micro, Small and Medium Enterprises (manufacturing as well as services) having principal outstanding above Rs.10.00 lacs

Accounts under Consortium or Multiple Banking arrangements will also be eligible to be covered under the approved Scheme subject to approval by 75% of the lenders by amount

Decreed NPA Accounts:
Reference Recoverable Amount will be equal to:
i) Suit amount plus

ii) Interest as per terms of decree or Simple interest @ Base Rate p.a. or contracted rate of interest thereon, whichever is lower, after giving due effect of recoveries, if any, from date of filing suit upto last completed quarter plus

iii) Cost as per terms of decree and other miscellaneous charges incurred after the date of decree less

iv) Recoveries effected till date

Special One Time Settlement Scheme (OTS) for NPA Accounts in MSME Sector





Address:-
Oriental Bank Of Commerce
Plot No. 5, Institutional Area
Sector-32, Gurgaon - 122001

Phone:-
0124-4126200 and 0124-4126300