Allowed

Canara Bank v. Ajayakumar B

DRT22 Sept 2022OA/191/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal disposed of Original Application No. 191/2022 filed by Canara Bank against two defendants. The court allowed a joint application for settlement noting that the defendants deposited the full claimed amount of Rs.67,00,000/-, satisfying the claim in full and final settlement.

What did the court decide?

Settlement of Original Application No. 191/2022 with full and final satisfaction; refund of 50% court fee to applicant.

Canara Bank versus Ajayakumar B — Banking and Recovery | DRT (2022)

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IN THE DEBTS RECOVERY TRIBUNAL-2, KERALA AT ERNAKULAM

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Present: SRI. SOVAN KUMAR DASH

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PRESIDING OFFICER

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Dated this the 22nd day of September, 2022

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ORIGINAL APPLICATION No. 191/2022

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Between

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Canara Bank, Kadappakda Branch, Udayagiri Complex, Kollam- 691 008. …Applicant

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And

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Ajayakumar B, Prop. M/s. Deeparadhana Cashew Products, S/o. Balachandran, Deeparadhana, Elampalloor P.O, Kollam- 691 504.

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Bindhu R, W/o. Ajayakumar B, Deeparadhana, Elampalloor P.O, Kollam- 691 504. …Defendants

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FINAL ORDER

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Learned counsel for the applicant is present. A joint application signed by both parties registered as IA.No.1546/2022 is put up for consideration. It is contended that the claim raised by the applicant bank is settled with the defendants. Accordingly, defendants have already deposited a sum of Rs.67, 00, 000/- on 30.06.2022 towards full and final claim made in the Original Application. Nothing remains to be recovered by the applicant bank from the defendants. Hence case may be disposed in view of such settlement and eligible court fee may be returned. As the claim is settled between the parties on full and final satisfaction, the IA.No.1546/2022 is allowed. The OA is disposed finally on settlement by recording full and final satisfaction of claim advanced by the applicant bank.

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As original application is disposed in term of compromise, as per the provision of Debts Recovery Tribunal (Refund of Court Fee) Rules 2013, the learned Registrar has given endorsement that the applicant bank is entitled for refund of 50% of the court fee. Since the OA is disposed in terms of compromise, the Registry is hereby directed to refund legally eligible amount of court fee to the applicant bank i.e,50% of the total amount of Rs.1,44,000/-amounting to Rs.72,000/- to the applicant bank as per the above Rules.

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Sd/-

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(SOVAN KUMAR DASH) PRESIDING OFFICER

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IN THE DEBTS RECOVERY TRIBUNAL-2, KERALA AT ERNAKULAM

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Present: SRI. SOVAN KUMAR DASH PRESIDING OFFICER

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PRESIDING OFFICER

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Dated this the 22nd day of September, 2022

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ORIGINAL APPLICATION No. 191/2022

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Between

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Canara Bank, Kadappakda Branch, Udayagiri Complex, Kollam- 691 008.

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…Applicant

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And

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Ajayakumar B, Prop. M/s. Deeparadhana Cashew Products, S/o. Balachandran, Deeparadhana, Elampalloor P.O, Kollam- 691 504 and another.

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…Defendants

Canara Bank v. Ajayakumar B

Case brief

What is this about?

What did the court decide?

Canara Bank v. Ajayakumar B

Case brief

What is this about?

What did the court decide?

What the court decided

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