This tribunal disposed of a transferred application for recovery by treating the claim as settled out of court after the respondent remitted funds, allowing the return of documents, and deciding the matter without costs.
The OA claim is treated as settled out of court without costs; registry directed to return filed documents to the applicant bank.
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.
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T.A. No. 512 of 2023
14.07.2023
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 14th day of July, 2023
Present: Shri Ganapathi K.R.K. Presiding Officer
TRANSFERRED APPLICATION No. 512 of 2023
(Originally filed before DRT- II, Chennai as OA No.220 of 2021 and thereafter transferred to this Tribunal and renumbered as TA No.512 of 2023)
State Bank of India, Asset Recovery Management, No.44, Eldams Road, Teynampet, Chennai – 600 018.
….Applicant
Vs
Sri Balasubramanian S/o Mr. M. A. Sethuraman, Rep. by its Power Attorney Agent, Mr. M. A. Sethuraman, S/o Mr. Meyyar Adikan,
Residing at, BIK 9005, Tampines Street, 93, #02-228, Tampines Industrial Park – A, Singapore 528839
And also residing at, No. 6/38, Valayapathy Street, Mugappair East, Chennai – 600 031. ….Defendant
Counsels on record / appeared:
Counsel for Applicant : M/s. Suresh Law Associates
ORDER
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T.A. No. 512 of 2023
14.07.2023
was accepted by applicant bank and accordingly, defendant had remitted a sum of Rs.54 lakhs on 04.01.2023 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 return of original documents filed along with proof affidavit.
(Dictated to PS, transcribed by her, corrected, signed and processed through E-drt on this the 14th day of July, 2023)
Sd/- (GANAPATHI K.R.K) PRESIDING OFFICER
State Bank of India, Asset Recovery Management
Sri Balasubramanian S/o Mr. M. A. Sethuraman
Ganapathi K.R.K
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
