The Tribunal disposed of the applicant's recovery claim as settled out of court. The court accepted the bank's memo stating that defendants remitted funds for a full and final settlement (OTS) during the pendency of the case, allowing no costs.
OA claim treated as settled out of court without costs.
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.
TA No.1641/2023
11.09.2023
1
IN THE DEBTS RECOVERY TRIBUNAL – III, CHENNAI
Dated this the 11th day of September, 2023
Present: Shri Ganapathi K.R.K. Presiding Officer
T.A. No. 1641 of 2023
(Originally filed before DRT- II, Chennai as OA No.146 of 2018 and thereafter transferred to this Tribunal and renumbered as TA No.1641 of 2023)
Rare Asset Reconstruction Limited 104-106, Gala Argos (Beside Hari Krupa Tower) Gujarat College Road, Ellisbridge Ahmedabad – 380 006
….Applicant
– Vs. –
Counsels on record / appeared:
Counsel for Applicant: M/s P. Veeraraghavan
TA No.1641/2023
2
11.09.2023
O R D E R
(Dictated to PS, transcribed by her, corrected, signed and pronounced by me in Open Court, on this the 11th day of September, 2023)
Sd/- (GANAPATHI K.R.K) PRESIDING OFFICER
1 issue framed by the court
Whether the arbitration claim should be dismissed as settled out of court based on the defence's settlement with the bank.
Rare Asset Reconstruction Limited
Shree Krishna Polystrap Private Limited
Aruvela Ramesh
Mrs. Vijayavani @ Vanisubhas
Mrs. Preethi Yachamaneni
Ms. Keerthi Aruvela
Ganapathi K.R.K.
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
