Judgment : Petitioner is the purchaser of property mortgaged by the third respondent to KFC for availing a loan. Under a sale deed, Ext.P1 dated 9.1.2004 the third respondent sold the property to the petitioner. Corporation thereafter granted OTS benefit to the original borrower on 4.2.2004 allowing settlement of full liability on payment of Rs. 46 lakhs before 28.2.2004. It is seen from Ext.P1 that there is no concealment of liability due to KFC by the seller when property was sold to the petitioner. On the other hand, an amount of Rs.53,79,500/- was reserved for the purchaser for payment to KFC. In other words, sale was subject to charge in favour of KFC. Counsel appearing for the KFC submitted that since payment was not made in terms of OTS Scheme, benefit was cancelled on 4.5.2004 vide Ext.P5. However, this Court vide two interim orders dated 27.3.2004 and 5.8.2004 granted stay on payment of Rs.23 lakhs each. In other words, within five months from the last date fixed for payment by the KFC under OTS scheme, entire OTS amounts was paid. Therefore question now to be considered is whether KFC can decline OTS benefit to the petitioner. In the first place I do not find anything illegal or irregular in the borrower selling the mortgaged property to settle liability even under the OTS scheme. Counsel for the KFC submitted that the amounts reserved in the sale deed should be paid to KFC because that is the liability undertaken to be discharged by the purchaser. I do not think this contention is tenable because sale deed binds the parties and KFC cannot claim benefit of higher price realised by the petitioner over the debt amount. In fact since OTS benefit was granted after execution of sale deed, liability reserved in the sale deed gets reduced so that differential amounts will be payable by the petitioner to the to the third respondent. However KFC is entitled to interest for the belated payment of OTS amount. Considering the sacrifices made by KFC while granting OTS benefit, which is substantial amount, and time for payment was essence of settlement, I direct the petitioner to pay interest at 15% per annum for the belated payment of OTS amount. However KFC is entitled to interest for the belated payment of OTS amount. Considering the sacrifices made by KFC while granting OTS benefit, which is substantial amount, and time for payment was essence of settlement, I direct the petitioner to pay interest at 15% per annum for the belated payment of OTS amount. KFC will give a detailed statement of interest liability for delayed payment of OTS amounts after reckoning payments made within two weeks from the date of production of a copy of this judgment. Petitioner grated three weeks’ time thereafter to make payment and payment, KFC will release title deeds to the petitioner.