If there is allegation that one party has not adhered to the terms of the OTS contract or a party seeks enforcement of the contract of OTS, it has to seek enforcement of the contract or specific performance of the contract, Certainly the remedy is not by way of a writ petition – Maruthi Corporation Ltd. Vs. SICOM Ltd. – Telangana High Court
August 8, 2022
Hon’ble High Court referred M/s Sardar Associates & Ors. Vs. Punjab & Sind Bank & Ors. (2017) ibclaw.in 85 SC and Phoenix ARC Private Limited v. Vishwa Bharati Vidya Mandir (2022) ibclaw.in 03 SC and held that the above decision of the Supreme Court therefore is a clear pointer that the action of a private bank while dealing with loan repayment of a borrower would not be amenable to the writ jurisdiction of the High Court. Insofar OTS is concerned, it is nothing but a contract between two parties. If there is allegation that one party has not adhered to the terms of the contract or a party seeks enforcement of the contract of OTS, it has to seek enforcement of the contract or specific performance of the contract. Certainly the remedy is not by way of a writ petition.