J P COMMERCIAL COMPLEX, 216-B, SUTEHRI ROAD, HOSHIARPUR THROUGH ITS PROPRIETOR SMT SARABJIT KAUR R/O HOUSE NO 52, SECTOR 15-A, CHANDIGARH Vs. STATE OF PUNJAB THROUGH ITS SECRETARY TO GOVERNMENT, DEPARTMENT OF FINANCE, PUNJAB CIVIL SECRETARIAT, CHANDIGARH AND ANOTHER

JUDGEMENT

(1.) The petitioner, who had offered to settle the loans outstanding to the Punjab Finance Corporation (PFC) under OTS Policy, later has resiled from the same, contending that the liability is of the PFC to pay to the petitioner inasmuch as he has already paid the amount in excess of what was liable to be paid. The writ petition came to be filed at a time when the petitioner did not make the payment as it was his undertaking in the OTS Scheme for payment of Rs.13,29,745/- and when the PFC withdrew the OTS concession, he has filed the petition stating that he was entitled to OTS and for finalization of the account as if it to suggest that his claim that money is due from the respondent should be accepted.

(2.) The respondent-PFC takes up a plea that there is a clear misunderstanding of the terms of the OTS and after undertaking to make the payment as per OTS, he cannot complain that any amount is due from the PFC to the petitioner. The withdrawal of the offer for settlement under OTS Scheme was, under the circumstances, perfectly justified.

(3.) To understand the controversy between the parties, it is necessary to reproduce the terms of the OTS Policy in so far as it is relevant for the petitioner's loan account, which was for an amount of about Rs.5 lacs: