Financial institutions are run as per RBI guidelines : OTS schemes are followed keeping in view the eligibility criteria of borrower and borrower cannot claim relief as a matter of right : In a judgement of Supreme Court titled SBI v Arvindra electronics pvt limited civil appeal number 6954 of 2022 decided on dt 4/11/2022 quashed the decision of high court and accepted the appeal of SBI and ,upheld the binding decision of Bijnor urban cooperative bank limited in which the issue was decided: 1) whether as a matter of right OTS can be claimed 2) whether under article 226 of constitution mandamus can be directed to financial institution to extend the time limit of OTS : The principal was followed of RBI guidelines and sec 62 of contract act : The time limit under OTS scheme can be extended through mutual consent of borrower and financial institution but not to be extended under writ jurisdiction :
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