Disposed
Union Bank of India v. B T Publications
DRTOA/273/2022
Case brief
AI extract
What is this about?
This Lok Adalat bench allowed a mutual settlement between Union Bank of India and the defendants regarding a loan account. The debt was fixed at Rs. 50,00,000/-, with 10% paid and the balance due in three months. A recovery certificate is issued if terms are breached.
What did the court decide?
Settlement of loan account for Rs.50,00,000/- with 10% paid upfront; balance payable within 3 months. Recovery certificate threatened on default.