PUNJAB & SIND BANK vs PUNJAB BREEDERS LTD. & ANR.

The Supreme Court held that under the One Time Settlement (OTS) Scheme, the appellant-bank is entitled to 50% of the increase in fair market value (FMV) of mortgaged properties if sold within three years, as stipulated in the settlement terms. The Court affirmed the High Court's decision to direct the bank to accept the payment of Rs.5.42 crores as full settlement, emphasizing that the bank's claim for additional compensation based on FMV was not valid since the property was sold without prior permission. The judgment clarified the enforceability of OTS terms regarding alienation of mortgaged property and the bank's rights therein.