In an order dismissing an application, the Debt Recovery Appellate Tribunal dismissed the appellant's IA for default after noting the appellant's absence and the respondent bank's report that the matter was settled under oath settlement.
Dismissed the appeal on the ground of default in prosecuting the application after noting settlement by the parties.
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IN THE DEBT RECOVERY APPELLATE TRIBUNAL AT CHENNAI
Dated the 9th day of January, 2024
PRESENT: HON'BLE MR. JUSTICE S.RAVI KUMAR CHAIRPERSON
IA 82/2022
in
A.IR (SA) :55/2022 (I.A. 776/2022 in SA 220/2022 on the file of DRT, Coimbatore)
Between
M/s. Sri Pavithra Cotton Mills P. Ltd., Rep. by its Managing Director, Mr. A. Karunakaran, No.82, Rayan Thottam, Kannampalayam, Sulur Via, Coimbatore – 641 402.
…Appellant
And
M/s. City Union Bank Limited, Credit Recovery and Management Department, “Narayana”, Administrative Officer, No. 24-B, Gandhi Nagar, Kumbakonam – 612 001.
...Respondent
Counsel for Appellant : Mr. R. Ashok Kumar Counsel for Respondent : M/s. Ananda Gomathi
ORDER
This matter is posted today for dismissal as
Petitioner/Appellant was absent on previous hearing i.e. 16.11.2023.
To give an opportunity to Petitioner/Appellant, matter is kept under the caption “for dismissal”. In spite of that Petitioner/Appellant evinced no interest in prosecuting the Application. However, Counsel for Respondent Bank reported that the matter is settled under OTS. Therefore, IA 82/2022 (Waiver) is dismissed for default. Consequently, Appeal A.IR (SA) : 55/2022 is rejected. All pending IAs, if any, stand closed.
[Dictated to Athistamani, PS, in open court, transcribed by her, corrected and signed by me, this 9th of January, 2024]
[ Justice S. Ravi Kumar] CHAIRPERSON
M/s. Sri Pavithra Cotton Mills P. Ltd.
M/s. City Union Bank Limited
S. Ravi Kumar
As recorded by the court registry
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