Disposed
Axis Bank v. Shakuntla Rani
DRTOA/398/2022
Case brief
AI extract
What is this about?
In a Lok Adalat proceeding under the Debts Recovery Tribunal, the Presiding Officer recorded a compromise wherein the respondent agreed to pay Rs. 15 lakhs in full and final settlement of the claim amounting to Rs. 24.05 lakhs plus interest, subject to a specific payment schedule.
What did the court decide?
Award of settlement agreement requiring respondent to pay Rs. 15 lakhs in installments barring the bank's further recovery from properties upon compliance.