SA filed challenging sale notice for debt recovery was disposed of as withdrawn upon out-of-court settlement between applicant and respondent bank.
SA disposed of as withdrawn on settlement of dues; without costs.
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S.A.No.259 of 2023 29.11.2023
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 29th day of November, 2023
Present: Shri Ganapathi K.R.K. Presiding Officer
SARFAESI APPLICATION No. 259 of 2023
Mr. P. Vengatesan, S/o. Sh. Pandurangane, Managing Director, Shanthi Apartments, No.69, II Cross Streeet, Raibow Nagar, Puducherry – 605 011
….Applicant
Vs
The Authorized Officer, Punjab National Bank, Sastra Centre, Circle Office Trichy, PNB House, Trichy-Tanjore Road, Kailasapuram, Trichy – 620 014. ….Respondent
Counsels on record / appeared:
Counsel for Applicant : M/s A. Periyasamy Counsel for respondent : M/s J.Arun Prasad
ORDER
No.8933/2023, after serving copy on the other side, submitting therein that applicant had deposited Rs.13,60,000/- as conditional deposit and further had negotiated with
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S.A.No.259 of 2023 29.11.2023
respondent bank and deposited a DD for a sum of Rs. 1,00,000/- as full and final settlement of the dues, and hence they may be permitted to withdraw the SA as settled out of court. Thus, submitting Ld. Counsel prayed for appropriate orders.
(Dictated to Steno (DD), transcribed by her, corrected, signed and pronounced by me in Open Court, on this the 29th day of November, 2023)
Sd/-
(GANAPATHI K.R.K) PRESIDING OFFICER
Shanthi Apartments
Punjab National Bank
Shri Ganapathi K.R.K
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
