Updated Dec 26, 2020, 11:15 am IST
Settlement of non-performing assets (NPAs or bad loans) done through the OTS scheme will not absolve fraudsters from criminal charges
The court was dealing with three criminal petitions by promoters of Kyori Oremin Ltd, Hyderabad, which was engaged in procuring coal from Indonesia for sale in the domestic market, and iron ore in the Chinese market (Representational Image:DC)
HYDERABAD: A one-time settlement (OTS) of loans taken from banks by itself is not legally sufficient to wipe out the criminal liability of the borrowers, particularly those who fraudulently took loans and opted to settle those with meagre amounts. This significant ruling has come from the Telangana High Court.