Disposed

State Bank of India v. Saai Sharavanan

DRT24 Aug 2023TA/58/2023

Case brief

AI extract

What is this about?

This debt recovery tribunal disposed of an original Order Appeal filed by a bank for recovery of dues by treating it as settled out of court. The court accepted the applicant's prayer to close the OA due to a full and final settlement reached with the defendants, directing the return of filed documents without costs.

What did the court decide?

OA disposed of as settled out of court without costs; registry directed to return all filed documents to applicant bank upon acknowledgment.

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

T.A. No. 58 of 2023

24.08.2023

IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

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Dated this the 24^th day of August, 2023

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

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TRANSFERRED APPLICATION No. 58 of 2023

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(Originally filed before DRT- II, Chennai as OA No.280 of 2019 and thereafter transferred to this Tribunal and renumbered as TA No.58 of 2023)

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State Bank of India, Rep. Chief Manager, Asset Recovery Management Branch, No. 44, Eldams Road, 1^st floor, Teynampet, Chennai – 600 018. ….Applicant

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Shri. R.M. Saai Sharavanan, M.P. Mariappan, Plot No.13, Part, Corporation, Old door No.13/2, New No.11, New Colony II, Main Road, Alwarthiru Nagar, Chennai – 600 087.

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Also at, No.8, 2^nd Floor, K.R.S.Building, Patel Street, Kodambakkam, Chennai – 600 024. ….Defendant

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Counsels on record / appeared:

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Counsel for Applicant : M/s. S. Prasadh Counsel for Defendant : M/s. Jury Brain Law Offices

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ORDER

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This OA is filed by the applicant bank for recovery of a sum of Rs.1,11,99,941/together with future interest and costs.

T.A. No. 58 of 2023

24.08.2023

A memo is filed by applicant bank stating therein that during pendency of the above OA, defendant has approached applicant bank for settlement under OTS on 20.09.2022, which was accepted by applicant bank and accordingly, defendant had remitted a sum of Rs.1,18,00,000/- 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 filed another memo praying for return of all documents contemplated to be marked as Ex A-1 to Ex A-11.

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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. Registry is directed to return all documents filed along with

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Proof Affidavit to applicant bank under proper acknowledgment 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 24^th day of August, 2023)

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

State Bank of India v. Saai Sharavanan

Case brief

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State Bank of India v. Saai Sharavanan

Case brief

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