Punjab and Haryana HC: In Case Of Breach of Terms of One Time Settlement, Bank Becomes Free To Recover Debt Irrespective Of OTS The Court held that once the terms and conditions of the One Time Settlement (OTS) entered with the bank are violated by a borrower and the settled amount is not paid within the agreed time frame, no further orders are required from the Court to extend the period of payment under the OTS. The Division Bench concluded that no separate orders are required to be passed in the matter of the OTS having become defunct for non-compliance of its conditions by the borrowers and the logical consequence in case of breach of the terms and conditions of the OTS is that the Bank becomes free to recover the money outstanding in accordance with law irrespective of the OTS. Reddy and Reddy Law firm Pune comprises of a well experienced team of advocates dealing in a wide variety of laws.