Coverage of the Scheme /Eligibility Criteria-

• I    All loan accounts which are in NPA category for last 3 years (presently the Reckoning Date shall be 31st March, 2021)
• II    All suit field and decreed accounts are eligible. The settlement will be subject to consent/consent decree/necessary order from the Court/Loak Adalat/DRT.
• III    All accounts under Consortium or Multiple Banking arrangements are also eligible to be covered under the proposed scheme. If OTS is agreed upon amongst member of the consortium, we may consider such cases under this scheme, However, MPFC's share of OTS amount should not be inferior to that of any of the lenders in the consortium. However, higher amount can be accepted.
• IV    Cases referred or admitted to NCLT under IBC 2016 are eligible subject to withdrawal of case from NCLT as per IBC proceedings.

Exclusions

• a.     Suspected fraud accounts/Wilful Defaulters/Non-Cooperative Borrower of MPFC or any other Bank/SIDBI.
• b.     The loan cases already settled by the Corporation shall not be eligible.
• c.     Cases which are standard with other lenders.

The Scheme is NDND

• 1.     The Scheme is Non-Discretionary and Non-Discriminatory (NDND) for OTS with NPA borrowers and shall be applicable to all eligible loan accounts irrespective of the sanctioned loan amount
• 2.     Henceforth, there shall be only one OTS Scheme for resolution of entire NPA portfolio of the Corporation.

To apply/register for the scheme, the borrowers has to print and submit the application form as below uly filled with payment of processing fees at our branch offices.