The Debt Recovery Tribunal allowed an application filed by the bank to upgrade a regularized account to a standard asset status and disposed of the main original application as withdrawn following repayment and regularization by the defendants.
Application to upgrade account to standard asset allowed; Original Application disposed as withdrawn.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE DEBTS RECOVERY TRIBUNAL-2, KERALA AT ERNAKULAM Present: SRI. SOVAN KUMAR DASH
PRESIDING OFFICER
Dated this the 10th day of November, 2022
ORIGINAL APPLICATION No. 348/2022
Between
Bank of Baroda, Parameswaran Pillai Building, Hospital Road, Kollam-691 001.
…Applicant
And
FINAL ORDER
Learned counsel for the applicant is present. Learned counsel for the applicant filed IA.No.2694/2022 contending that the on receipt of summons from this Tribunal, the defendants approached the applicant bank and paid the overdue amounts in the account and requested for upgrading the account as standard asset and allow them to continue the credit facility. Accordingly, the applicant bank has upgraded the account in the name of defendants as standard account. Loan is regularized.
One Shri.Digamber Kumar, Chief Manager of the applicant bank has filed affidavit in support of the IA and he confirmed that the account of the defendants has become regular and upgraded as standard by the applicant. In such premises IA.No.2694/2022 is allowed and the OA is disposed as withdrawn.
Sd/-
( SOVAN KUMAR DASH) PRESIDING OFFICER
IN THE DEBTS RECOVERY TRIBUNAL-2, KERALA
AT ERNAKULAM
Present: SRI. SOVAN KUMAR DASH
PRESIDING OFFICER
Dated this the 10th November, 2022
ORIGINAL APPLICATION No. 348/2022
Between
Bank of Baroda, Parameswaran Pillai Building, Hospital Road, Kollam-691 001.
…Applicant
And
…Defendants
Bank of Baroda
Faisal Fasaludheen
Jajidabeevi
Sovan Kumar Dash
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
