Disposed

Idbi Bank v. Devendiran

DRT9 Feb 2023OA/208/2022

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal disposed of O.A. 208 of 2022 filed by IDBI Bank against two defendants for recovery of a sum of Rs. 83,33,633.40. The application was treated as withdrawn due to regularization of the loan account and remittance of the overdue amount with a future undertaking, without costs.

What did the court decide?

O.A. disposed of as withdrawn with liberty to initiate action afresh, but without costs. Refund of court fee directed.

Idbi Bank versus Devendiran — Banking and Recovery | DRT (2023)

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OA No.208/2022 09.02.2023

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IN THE DEBTS RECOVERY TRIBUNAL – III, CHENNAI

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Dated this the 09^th day of February, 2023

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Present: Shri Ganapathi K.R.K.

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Presiding Officer

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O.A. No. 208 of 2022

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IDBI Bank Limited, Madipakkam Branch, No.2/155, Medavakkam Main Road, Sahana Complex, Kilkattalai,

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Chennai – 600 117. ....Applicant

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Versus

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Mr.V.Devendiran S/o.Mr.T.Vinayagam, No.19, Palani Street, Nehru Nagar, Ramapuram, Chennai – 600 089.

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Mrs.K.Geetha W/o.Mr.V.Devendiran, No.19, Palani Street, Nehru Nagar, Ramapuram, Chennai – 600 089. ....Defendants

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Counsels on record / appeared:

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Counsel for Applicant : M/s.S.Sathiyanarayanan.

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O R D E R

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This OA is filed by the applicant bank for recovery of a sum of Rs.83,33,633.40p together with future interest and costs.

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OA No.208/2022 09.02.2023

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A memo is filed by applicant bank stating therein that during pendency of the above OA, defendants have approached applicant bank and had remitted the overdue amount of Rs.4,99,275/-, upon which the account is upgraded to standard category. Defendants have requested the applicant bank to withdraw the OA and had also undertaken that they will remit EMIs without default in future. Hence, applicant bank prayed that the OA claim may be treated as closed in view of regularization of loan account by defendants and also filed another memo praying for refund of eligible Court fee.

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Perused. Memo is taken on record. Allowed. In the result, this OA is disposed of

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as withdrawn, with liberty to initiate action afresh in an eventuality, however without costs. All other interlocutory applications, if any pending shall stand closed. Memo is signed by Authorised Signatory of applicant bank, counsel for applicant bank and defendants 1 and 2. Registry is directed to process refund of Court fee as per extant guidelines.

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(Dictated to PS, transcribed by her, corrected, signed and processed through E-drt on this the 09^th day of February, 2023)

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Sd/- (GANAPATHI K.R.K) PRESIDING OFFICER

Idbi Bank v. Devendiran

Case brief

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What did the court decide?

Idbi Bank v. Devendiran

Case brief

What is this about?

What did the court decide?

What the court decided

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