National Lok Adalat disposed of a recovery dispute via settlement between Union Bank of India and Prakash Kumar Nayak regarding a debt of approximately Rs. 27.45 lakhs. The parties amicably resolved the matter under the SARFAESI Act framework.
Solemnized settlement order disposing of the case of the Bank recoverable from the Defendant amounting to Rs. 27,45,494.97p.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
BEFORE THE NATIONAL LOK ADALAT AT DEBTS RECOVERY TRIBUNAL-3, KOLXATA. JEEVANSUDHA BUILDING, 42C,JAWAHARLAL NEHRU ROAD arH FLooR, KoLKATA-7Oo o71
Dated December09,2023.
Plaintiff!
Union Bank of India,
represented by lYr. Tankeshwar Khan, AGIY
Defendant/Respondent
Prakash Kumar Nayak
Case No. O.A. 662/2022 (Sl.No.11)
PRESENT:
(1) SHRI KUMAR DE, ludicial Officer (Retd.)
MS. DEBJANI SAHU, Advocate (Member)
AWARD
Upon consent of the parties, the dispute between the parties have been referred ior determination to the Lok Adalat and the parties having compromised /settled the case/matter, the following award is passed in terms of the settlement :-
The case is taken up for hearing.
The claim of the petitioner Bank recoverable from the Defendant amounts to Rs. 27,45,494.97p. plus further interest
The parties have amicably settled dispute at NA (outstanding amount recoveTed through sale of property under SARFAESI Act, 2022).
In view of the compromise arrived between the parties the OA is disposed of in terms of the settlement.
Bank may file separate application before Registrar for refund of court fees./\ Registrar will do the needful in accorda.od nce w i t h law. \ e r n 'u* -.)t* lJ '-t\ot-i-g (SHRI KAMAL DE) KAMAL DE) DE) (Ms. DEBJANI SAHU) Judicial Officer (Retd.) (Retd.) Advocate (Member)
(SHRI KAMAL DE) KAMAL DE) DE) Judicial Officer (Retd.) (Retd.)
2 issues framed by the court
Determination of outstanding debt claim through settlement.
Execution of compromise between bank and borrower.
1 provisions across 1 enactments
Union Bank of India
Prakash Kumar Nayak
Shri Kumar De
Ms. Debjani Sahu
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
