Disposed

Icici Bank Limited v. Dd Infra Associates

DRT10 Nov 2023TA/277/2023

Case brief

AI extract

What is this about?

The Tribunal disposed of an application filed by ICICI Bank for recovery. The bank filed a memo claiming settlement with defendants via OTS with partial remittance, and the Tribunal allowed the claim as settled out of court without costs.

What did the court decide?

Application disposed of as settled out of court without costs; parties to abide by settlement terms and submit settlement deed.

Icici Bank Limited versus Dd Infra Associates — Banking and Recovery | DRT (2023)

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TA No. 277 of 2023 10.11.2023

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IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

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Dated this the 10^th day of November, 2023

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

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TRANSFERRED APPLICATION No. 277 of 2023

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(Originally filed before DRT- II, Chennai as OA No. 335 of 2022 and thereafter transferred to this Tribunal and renumbered as TA No.277 of 2023)

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

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….Applicant

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DD Infra Associates, Thavasimani S, S/o. Sundarapandian, Proprietor, No.2/41, Ground Floor, DD Homes, Main Road, Raghava Nagar, Moovarsampet, Chennai – 600 091.

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S. Jagathambihai, D/o. Sutharisanan, No.10/40, Vellaiyanthoppu, Kottaram, Santhaiyadi, Kanyakumari – 629 703. ….. Defendants

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Counsels on record / appeared:

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

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ORDER

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This OA is filed by the applicant bank for recovery of a sum of Rs.41,51,695/together with future interest and costs.

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TA No. 277 of 2023 10.11.2023

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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 a sum of Rs.41,00,000/- 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 also prayed for refund of eligible Court fee.

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Copy of settlement memo is sent to other side by post and applicant bank had furnished postal receipts evidencing the same.

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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. Applicant bank to take appropriate steps for refund of Court fee as per extant guidelines.

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(Dictated to PS, transcribed by her, corrected, signed and processed through E-drt on this the 10^th day of November, 2023)

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

Icici Bank Limited v. Dd Infra Associates

Case brief

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Icici Bank Limited v. Dd Infra Associates

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