Union Bank Of India & Anr vs Sri Laxmidhar Nayak & Ors

The Supreme Court held that the High Court erred in assuming a One Time Settlement amount of Rs.14,60,000/- based on a letter from the Bank, which did not indicate such an agreement. The Court found that the outstanding dues were higher than the assumed amount, thus justifying the remittance of the case to the High Court for a fresh decision. The appeal was allowed, and the impugned order was set aside, directing the High Court to consider the actual outstanding dues.