Disposed

Ms Subhash Brothers v. Shriram City Union Finance Ltd.

DRT11 Feb 2023SA/339/2022

Case brief

AI extract

What is this about?

The National Lok Adalat recorded a compromise settlement between the applicant and the respondent debtor, allowing repayment of Rs. 2.16 Crores in installments fullfilment of which will reaffirm the arbitration proceedings. The application is disposed of upon receipt of original documents.

What did the court decide?

Application dismissed; order stands accepted as compromise; arbitration proceedings remain reviveable on default.

Ms Subhash Brothers versus Shriram City Union Finance Ltd. — Service and Employment | DRT (2023)

¶1

DEBTS RECOVERYTRI^{BUNAL-II,DELHI}

¶2

IST N ONAL LO ADALAT HE LD ON 11.02.^{2OB(2ND SATURDAYI}

¶3

Orqanised Bv:^{DRT-ll, Delhi} Authoritv: DSLSA, Delhi

¶4

sAr33912022

¶5

Petitioner/Applicant : M/s Subhash Brothers DefendanURespondent : Shriram City Union Finance Ltd.

¶6

No. of Proceedings of the !@EZ^{of the Tribunal}

¶7

Name of Presiding Ofricer :Shri Deepak^{Nath Tiwari, Presiding Officer,DRT'} !1, Delhi & Lok Adalat Judge

¶8

Name of Members (f ) Shri A. K. Thakur, Registrar
(2) Shri Dattatrcy Bajpayee, Recovery Officer{l
(3) Shri Suai Prakash, Section O(ficer

¶9

AWARD

¶10

This matter is taken by this Tribunal in hybrid mode i.e.^physical as well as through Video Conferencing.

¶11

The dispute between the parties having been refened for determination to the National Lok Adalat and the^parties having compromised/settled the case/mafter, the following Award is^passedin terms of the Settlement.

¶12

Ms. Usha Singh, counsel for respondent FI^(online)

¶13

None for applicant

¶14

The counsel for respondent FI has appeared online and informed that the matter stands settled for an amount of Rs.2.16 Crores out of which the respondent FI has already received an amount of Rs.80 Lacs and the remaining amount shall be^paid on or btJforc 27.02.2023.

¶15

Accordingly, the dispute between the parties stands amicably setUed.

¶16

This compromise setUement between the parties is suo motto and with free will.

¶17

It is however provided that the SA Applicant shall be at liberty to revive the SA in the event of default in the OTS terms.

¶18

In this circumstances compromise is recorded. Now, the matter stand disposed of in terms of compromise and the applicant has already received the original documents from the respondent bank in accordance with law. The date already flxed in the matter before DRT sbands cancelled. The record be consigned to record room.

¶19

t,
ROAC Petitioner/Applicant ROAC Defe ndent
( r) r{D istlar)
Member-l m r-ll itember-lll
4
(Presidi ngbfficer)
DRTJI, Delhi &
Lok Adalat Judge

Ms Subhash Brothers v. Shriram City Union Finance Ltd.

Case brief

What is this about?

What did the court decide?

Ms Subhash Brothers v. Shriram City Union Finance Ltd.

Case brief

What is this about?

What did the court decide?

What the court decided

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