Canara Bank v. Balaji Waters
Case brief
What is this about?
The National Lok Adalat allowed a compromise where the borrower deposited the full bank dues. The award stood satisfied, and the applicant bank was granted a refund of 50% of the court fees.
What did the court decide?
Allowed refund of 50% of court fees; returned original documents; award passed and satisfied.
What the court decided
BEFORE TIIE NATIONAL LOKADALAT ORGAiISED ON lltb Februarv.2023 BY THE DEBTS RECOVERY TRIBUNAL.AURANGABAD
O.A. No.8212022
COMPROMISE
Apdls34(O:
Canara Bank ( hereinafter refened to as bank/ frnancialinstitution)
YERSUS
Balaji Waters Misaland others
Defendant(s):
thoeirrufter referred to as / bonower / guaranto(s) )
Details of dispute /claim: The claim of the bank is to the tune of Rs.28,52,811/-with cost and interest.
The borrowerhas agreedto deposit an amount of 28'52'8111as full andfinalsettlementofthedues.Thebankauthorityandtheborrowerhave agreed voluntarilywith full consentto receivethat amountby the bankand to give thatamount by the borrower' The applicant bank states that they have receivedan amountof 28,52,811t'asfull and flnal settlement lt is Settledthatborrowerdoesnotoweanyfurtheramounttothebankinrespect ofthe aboveaccounts.
Issues for consideration
2 issues framed by the court
Whether the dues of the borrower can be fully settled
Whether 50% of the court fees is refundable under Lok-Adalat rules
Parties & counsel
- applicant
Canara Bank
Coram
Shri Vimal Gupta
Shri M Dabholkar
Case details
As recorded by the court registry
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