Allowed

State Bank of India v. M/S Aditya Ayurvedic

DRT11 Dec 2023MA/83/2023

Case brief

AI extract

What is this about?

In this miscellaneous application, the Debts Recovery Tribunal allowed the State Bank of India to withdraw a Recovery Certificate after the loan account was closed following an amicable settlement under the One Time Settlement Scheme.

What did the court decide?

Misc. Application No. 83/2023 allowed; Recovery Proceedings no.122/2020 closed; Recovery Officer directed to return title documents if in file.

State Bank of India versus M/S Aditya Ayurvedic — Banking and Recovery | DRT (2023)

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IN THE DEBTS RECOVERY TRIBUNAL, AURANGABAD (BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD) ORDER SHEET

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11 Sr.	.12.20 No.2	23 4 MA No. 83/2023
Classific ation	No. of Exh.
		MISCELLANEOUS APPLICATION NO. 83/2023 State Bank of India ..Applicant Versus M/s Aditya Ayurvedic ..Respondent Mr. A.L.Muley – Advocate for the applicant None for the Respondent. Matter is taken through hybrid. 1. By this Misc. Application, the learned counsel for the applicant bank seeks permission of this Tribunal to withdraw the Recovery Certificate No.122/2020 issued in OA no. 83/2014 as the account is amicably settled between the parties under the One Time Settlement Scheme and the said amount has been appropriated in the loan account and as such the loan account is closed.
		2. The applicant has made out the case for withdrawal of the Recovery Certificate as it is satisfied. 3. In view of the above, I pass the following order through Video Conference: ORDER
		A. Miscellaneous Application No. 83/2023 is allowed. B. Copy of this order be sent to the learned Recovery Officer for information.
		C. The Recovery Officer is directed to close the Recovery Proceedings no.122/2020. D. The Recovery Officer may look into the factum with the original title documents if in the file, the same shall be returned to the applicant bank as per procedure. E. Consign the file to the Record Room and orders be uploaded on official web-site. (Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Aurangabad

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[APK] (MA No.83/2023) Page 1 of 1

State Bank of India v. M/S Aditya Ayurvedic

Case brief

What is this about?

What did the court decide?

State Bank of India v. M/S Aditya Ayurvedic

Case brief

What is this about?

What did the court decide?

What the court decided

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