Disposed

Canara Bank v. M/S Aaysha Mariam Leathers Exports

DRT5 Sept 2023TA/337/2023

Case brief

AI extract

What is this about?

Debts Recovery Tribunal disposed of an outstanding application filed by Canara Bank for recovery totaling Rs. 81,30,136.71. The court accepted a settlement memo wherein defendants remitted Rs. 40 Lakhs toward full and final settlement, closing the case without costs.

What did the court decide?

Used out-of-court settlement accepted by applicant; case treated as settled. No costs awarded.

Canara Bank versus M/S Aaysha Mariam Leathers Exports — Banking and Recovery | DRT (2023)

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TA No.337 of 2023

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05.09.2023

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IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

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Dated this the 05^th day of September, 2023

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Present: Shri Ganapathi K.R.K.

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Presiding Officer

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TRANSFERRED APPLICATION No. 337 of 2023

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(Originally filed before DRT- II, Chennai as OA No.330 of 2021 and thereafter transferred to this Tribunal and renumbered as TA No.337 of 2023)

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Canara Bank,

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Rep. by its Senior Manager, Park Town Branch, #22, Sydenham’s Road, Chennai – 600 003.

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….Applicant

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-Vs-

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M/s. Aaysha Mariam Leathers Exports, Rep by its proprietor Rijwana Parveen, Periyamet,

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Chennai – 600 003.

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M. Rijwana Parveen, W/o. Mohamed Ali, #36 / 37, Natharsha Street, Begaumpur, Dindigul 624 002.

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A. Mumtaz Begun W/o. Late Adham Khan, #36 / 37, Natharsha Street, Begaumpur, Dindigul 624 002.

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Mohamed Ali, S/o Late. Adham Khan, #36 / 37, Natharsha Street, Begaumpur, Dindigul 624 002. ….Defendants

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Counsels on record / appeared:

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Counsel for Applicant : M/s. K.Anbarasan

TA No.337 of 2023

05.09.2023

ORDER

This OA is filed by the applicant bank for recovery of a sum of Rs.81,30,136.71p 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 a sum of Rs.40 Lakhs on 17.01.2023 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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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 Steno (GS), transcribed by her, corrected, signed and processed through E-drt on this the 05^th day of September, 2023)

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

Canara Bank v. M/S Aaysha Mariam Leathers Exports

Case brief

What is this about?

What did the court decide?

Canara Bank v. M/S Aaysha Mariam Leathers Exports

Case brief

What is this about?

What did the court decide?

What the court decided

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