A Lok Adalat bench disposed of an original application filed by a bank for loan recovery. The parties mutually settled the account, with the defendant depositing the full agreed compromise amount, leading to the withdrawal of the case.
The original application was disposed of as withdrawn; court fee was refunded.
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BEFORE THELOK ADALAT DEBTS RECOVERYTRIBUNAL : JABALPUR
AWARD
tn
Original ApplicationNo'- OA 326122
Present:-
Referencemade bY
Applicant Bank throughShri J.B Patel, Advocate None for theDefendants
Between:-
Applicant State Bank oflndia
Versus
Shivam Nayak
Defendant
lWhereastheapplicantbankhasfiledtheinstarrtoAinthis Tribunal for recoveryof a sum of Rs. 43,21,284 00 together with future andpendentelite tnterest, cost etc. against the defendants'
2 Whereas during thependetrcyof the case beforethe DRT, Jabalpur the applicantbank and the defendants have mutually consented to settlethe loan account
3 Now in terms of referencemade by the Counsel for the Applicant before this Lok Adalaton this 13th Day of lVay,2023the Parties have mutually settled theloan account and Defendants have
deposited the entire compromiseamount of Rs. 41,91,991 00 (Rupees Forty One Lac Ninety One Thousand Nine Hundredand Ninety One only) in full and fir''al settlement.The Counsel for Applicant prays for withdrawal of thecase as thereremainsnothing to recover from the Defendants.ln view of the statementmade before this Lok Adalat, the OA326122 is disposedof as withdrawn Cor,rrt fee be refundedas per rules
(Given under the hand and seal ofthe Lok Adalat Bench on this the 13th day of tVlay, 2023).
(Dr P.R.S. Choudhary) Member
(Akhilesh ChoubeY) Member
(Ram Niwas Patel) Presiding Officer
State Bank of India
Ram Niwas Patel
Akhilesh ChoubeY
Dr. Pushpraj Singh Choudhary
As recorded by the court registry
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