Disposed

Maharashtra Gramin Bank v. Abdullahkhan S/o Basullahkhan Kayamkhani

DRT11 Feb 2023MA/4/2023

Case brief

AI extract

What is this about?

This compromise order under Section 14(2) NBFC/Financial Institution Recovery Tribunal (implied by tribunal name) recorded a settlement where the borrower deposited Rs. 4,00,000 as full and final settlement of dues of Rs. 11,10,847/-. The NT (National/Additional) Lok Adalat disposed of M.A. No. 04/2023 and listed the original recovery proceeding No. 79/2020 for disposal.

What did the court decide?

The money application stood disposed of after acceptance of full and final settlement by the bank of Rs. 4,00,000.

Maharashtra Gramin Bank versus Abdullahkhan S/o Basullahkhan… — Banking and Recovery | DRT (2023)

BEFORE THE NATIONAL LOK ADALAT ORGANISED ON 11'h February.2023 BY THE DEBTS RECOVERY TRIBUNAL. AURANGABAD

M.A. No.04/2023

COMPROMISE

Applicant(s):

Maharashtra Gramin Bank ( hereinafter referred to as bank / financial institution)

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VERSUS

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Abdullahkhan s/o Basullahkhan and others

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De&qds.alG.I:

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( hereinafter referred to as / bonower / guaranto(s) )

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Details of dispute / claim: The claim of the bank is to the tune of

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Rs.l I,10,847/- r.r ith cost and inlercst.

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The borrower has agreed to deposit an amount of Rs.4,00,000/(Rupees Four Lakh only) as full and final settlement of the dues. The bank authority and the borrower have agreed voluntarily with full consent to receive that amount by the bank and to give that amount by the bonower. The applicant bank states that they have received an amount of Rs.4,00,000/- (Rupees Four Lakh only) as full and final settlement of the Recovery Proceeding bearing no.79l2020. It is stated that borrower does not owe any further amount to the bank in respect of the above proceeding.

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contd...2..

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2 I ok,\dalarll M.A No.0lrl02lⁱ fcbruar].202:i^(on,pronrise I)R'1. l bad

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The above settlement is agreed upon bcfbre tha Pancl and thc same is verihed in the light of the conients of compromisc pursis dated t1t02/2023.

Applicant(s)

Defendant(s)

&,,.a

Advobatc fi,r thc Applicant(s) /Aurhorised Rcpresentativc

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n dvocate lor the Delendant(s) 1'Authorised Representative

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r51- (ltlra t

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Chairman ofthe Lok Adalat Bench-l

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Shri M. M. Dabholkar Member ofthe Lok Adalat Bench-I

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Date : 1l-02-2023 Place : Aurangabad.

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ORDER

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In vicu of the abole settlcmcnt and palment in thc prcscnt matter beforc T.ok-Adalat. the N'I.A. no.0-1,2023 srands disposed o1T accordingly.^'lhe Recovery Proceeding bcaring no.79l2020 be listed for disposal.

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..-" \r,,,Jqt'y \ ( Vimal Gupta ) l'RESIDING OFI-lCt,R. Debts I{ccovcry Tribunal. Aurangabad.

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Date : I 1-02-2023

Maharashtra Gramin Bank v. Abdullahkhan S/o Basullahkhan Kayamkhani

Case brief

What is this about?

What did the court decide?

Maharashtra Gramin Bank v. Abdullahkhan S/o Basullahkhan Kayamkhani

Case brief

What is this about?

What did the court decide?

What the court decided

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