Disposed
State Bank of India v. Mrs. Guduri Madhavi
DRTOA/544/2022
Case brief
AI extract
What is this about?
Lok Adalat settled a loan account dispute between the applicant bank and the defendant. They mutually agreed to a total sum of Rs. 4,60,000/- with a schedule for deposit. The bank retains the right to seek a recovery certificate if terms are not met.
What did the court decide?
Defendant to deposit Rs. 22,000/- by 12.06.2023 and balance Rs. 4,38,000/- within 3 months. Bank retains right to issue Recovery Certificate on default.