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Icici Bank Limited versus Anuradha Ramalingam — Insolvency and Bankruptcy | DRT (2023)

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DRT
2023
Icici Bank Limited versus Anuradha RamalingamIcici Bank Limited v. Anuradha Ramalingam

Disposed

Icici Bank Limited v. Anuradha Ramalingam

DRT7 Dec 2023TA/1869/2023

Case brief

AI extract

What is this about?

In a transferred out-of-court settlement application filed for recovery of dues, the Debts Recovery Tribunal allowed the application as the claim was settled via a one-time settlement agreement, ruling the matter disposed without costs and directing refund of court fee.

What did the court decide?

The OA claim is treated as settled out of Court without costs; Applicant to file for refund of Court fee.

What the court decided

AI extract

Outcome

The OA claim is treated as settled out of Court without costs; Applicant to file for refund of Court fee.

Detailed headnote1 paragraphs

Where a settlement agreement is reached and a partial remittance is made during the pendency of an Original Application for recovery, the Tribunal may dispose of the application as settled out of court on terms that the claimant accents the settlement and refunds eligible court fee to the applicant.

A compact analysis

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.

A

1

TA No. 1869 of 2023 07.12.2023

IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

Dated this the 07^th day of December, 2023

Present: ShriGanapathi K.R.K. Presiding Officer

TRANSFERRED APPLICATION No.1869 of 2023

(Originally filed before DRT- II, Chennai as OA No.316 of 2022 and thereafter transferred to this Tribunal and renumbered as TA No.1869 of 2023)

ICICI Bank Limited No.1, Cenotoph Road Teynampet Chennai – 600 018 Rep. by Collection Manager ….Applicant

-Vs-

Anuradha Ramalingam D/o P.N. Ramalingam No.12, R K V Nagar Cantonment Poonamallee Chennai – 600 056 ....Defendant

Counsels on record / appeared:

Counsel for Applicant : M/s T. Muruganantham & Associates

ORDER

This OA is filed by the applicant bank for recovery of a sum of Rs.22,16,105/together with future interest and costs.

A memo is filed by applicant bank stating therein that during pendency of the above OA, defendant had approached applicant bank for settlement under OTS, which was accepted by applicant bank and accordingly, defendant had remitted a sum of Rs.22 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 and prayed for refund of eligible Court fee.

2

TA No. 1869 of 2023 07.12.2023

Heard. 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. Applicant bank to file necessary application for refund of Court fee as per extant guidelines.

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

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

Parties & counsel

AI extract

applicant
ICICI Bank Limited
respondent
Anuradha Ramalingam

Coram

AI extract

Shri Ganapathi K.R.K.

Case details

As recorded by the court registry

Court: DRT
Decided on: 7 Dec 2023 · December
Case no.: TA/1869/2023
CNR: 330330039792023
Topic: Insolvency and Bankruptcy
Bench: Ganapati Krk

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Cite this judgement

Icici Bank Limited v. Anuradha Ramalingam, TA/1869/2023 (DRT), decided on 7 December 2023.

The Debt Recovery Tribunals publishes no neutral citation for this judgement — cite it by case number and date of decision.

Bench / Coram

Shri Ganapathi K.R.K.

Parties & counsel