Disposed

State Bank of India v. Nishanraj

DRT10 Aug 2023TA/1826/2023

Case brief

AI extract

What is this about?

The Debt Recovery Tribunal disposed of an original application for recovery of dues filed by a bank against two individuals. The claim was settled out of court via an Out of Court Settlement (OTS) with full payment remitted by the defendants. The application was treated as settled without costs, and documents were ordered returned.

What did the court decide?

The original application for recovery was disposed of as settled out of court without costs. Registry to return documents and refund court fee.

State Bank of India versus Nishanraj — Banking and Recovery | DRT (2023)

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T.A. No. 1826 of 2023

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10.08.2023

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IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

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Dated this the 10^th day of August, 2023

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

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TRANSFERRED APPLICATION No. 1826 of 2023

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(Originally filed before DRT- II, Chennai as OA No.227 of 2020 and thereafter transferred to this Tribunal and renumbered as TA No.1826 of 2023)

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State Bank of India, ARM Branch, Chennai 44, 1^st Floor, Eldams Road, Teynampet, Chennai – 600 018. Rep. by its Manager & Case Officer Mr. C. S. Srinivasan

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….Applicant

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Mr. Nishanraj V.C. S/o Mr. Chandran G,

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No.156, Labour Colony, Near RR Towers, Guindy, Chennai – 600 032.

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Flat No,S1, 2^nd Floor, Golden Adobe, Plot No.5, Keezha Eerai Sri Kamachi Amman Nagar, Anna Main Road, Kolapakkam, Chennai – 600 122.

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Mrs. R. Susila W/o. Mr. Chandran G, No.156, Labour Colony, Near RR Towers, Guindy, Chennai – 600 032.

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Flat No,S1, 2^nd Floor, Golden Adobe, Plot No.5, Keezha Eerai Sri Kamachi Amman Nagar, Anna Main Road, Kolapakkam, Chennai – 600 122.

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….Defendants

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Counsels on record / appeared:

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Counsel for Applicant : M/s. E. Kumar Counsel for Applicant : M/s. K. Jayakaran

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T.A. No. 1826 of 2023

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10.08.2023

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ORDER

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This OA is filed by the applicant bank for recovery of a sum of Rs.40.13.534/86p together with future interest and costs.

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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 the entire settlement amount of Rs.27 lakhs on various dates and final payment on 20.04.2023towards full and final settlement of the OA claim. Hence, applicant bank prayed that the OA claim may be treated as settled out of Court. Applicant bank had also filed two separate memos for return of documents marked as Ex A-1 to Ex A-12 filed along with proof affidavit and also for refund of Court fee.

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Copy of full satisfaction memo is served to defendants in person, who had acknowledged the same in the memo.

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Memo is taken on record. 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. Registry is directed to return documents marked as Ex A-1 to Ex A-12 filed along with proof affidavit to applicant bank under proper acknowledgment as per extant guidelines. Memo is signed by City Case Officer, ARM branch of applicant bank, counsel for applicant bank and defendants 1 and 2. Registry is directed to process refund of Court fee as per extant guidelines.

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(Dictated to PS, transcribed by her, corrected, signed and pronounced by me in Open Court, on this the 10^th day of August, 2023)

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

State Bank of India v. Nishanraj

Case brief

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State Bank of India v. Nishanraj

Case brief

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