Punjab National Bank (Oriental Bank of Commerce) v. Aruvi Exports

DRT7 Sept 2023TA/182/2023

Case brief

AI extract

What is this about?

In TA No. 182 of 2023, the DRT-III, Chennai disposed of an Original Application filed by Punjab National Bank for recovery of dues. The court allowed the plaintiff's memo stating that the dispute was settled out of court after the defendants remitted Rs. 32.56 lakhs towards a full and final settlement, thereby dismissing the application without costs.

What did the court decide?

The Original Application was disposed of as settled out of court; the claim is treated as settled without costs.

Punjab National Bank (Oriental Bank of Commerce) versus Aruvi… — Banking and Recovery | DRT (2023)

TA No. 182 of 2023

07.09.2023

IN THE DEBTS RECOVERY TRIBUNAL- III, CHENNAI

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Dated this the 07^th day of September, 2023

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Present: Shri Ganapathi K.R.K. Presiding Officer

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TRANSFERRED APPLICATION No. 182 of 2023

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(Originally filed before DRT- II, Chennai as OA No.19 of 2022 and thereafter transferred to this Tribunal and renumbered as TA No.182 of 2023)

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Punjab National Bank

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Rep. by its Chief Manager No.7, Narayana Street Periamet Chennai – 600 003

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….Applicant

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1. M/s ARUVI EXPORTS

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Rep. by its Proprietor

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Mr.R.Vijay Anandan S/o L.Renganathan No.22, Kattur Sadayappan Street

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Periamet

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Chennai – 600 003

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Also at: No.10/1, Selliamman 1^st Cross Street Peravallur Chennai – 600 082

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2. Mrs.Senbagavalli

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W/o Mr.R.Vijay Anandan No.10/1, Selliamman 1^st Cross Street Peravallur

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Chennai – 600 082 ….Defendants

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Counsels on record / appeared:

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Counsel for Applicant : M/s.M.Aravindsubramaniam

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ORDER

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This OA is filed by the applicant bank for recovery of a sum of Rs.52,11,638.22p

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together with future interest and costs.

TA No. 182 of 2023

07.09.2023

A memo is filed by applicant bank stating therein that during pendency of the above OA, defendants have approached applicant bank for settlement under OTS, which was accepted by applicant bank and accordingly, defendants had remitted a sum of Rs.32.56 lakhs towards full and final settlement of the OA claim. Hence, applicant bank prayed that the OA claim may be treated as settled out of Court. However, copy of the same is sent to other side only through post and proof of postal receipt is filed.

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Perused. Memo is taken on record. Allowed. In the result, this OA is disposed of as settled out of Court, however without costs. All other interlocutory applications, if any pending shall stand closed.

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4. With the above observations, OA stands disposed.

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(Dictated to Steno (DD), transcribed by her, corrected, signed and pronounced by me in Open Court, on this the 07^th day of September, 2023)

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Sd/- (GANAPATHI K.R.K) PRESIDING OFFICER

Punjab National Bank (Oriental Bank of Commerce) v. Aruvi Exports

Case brief

What is this about?

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Punjab National Bank (Oriental Bank of Commerce) v. Aruvi Exports

Case brief

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What the court decided

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