Disposed

Canara Bank v. Total Supply Chain And Food Solution Pvt. Ltd. And Four Others

DRT13 Jun 2023TA/66/2023

Case brief

AI extract

What is this about?

This order grants an out of court settlement in a transfer application filed by M/s.Canara Bank for debt recovery. The court observed that full settlement was made, and directed the return of original documents and closing of other pending interim applications without costs.

What did the court decide?

OA disposed of as settled out of Court without costs; documents Ex. A-1 to A-20 and Ex. A-23 to A-27 directed to be returned.

Canara Bank versus Total Supply Chain And Food Solution Pvt… — Banking and Recovery | DRT (2023)

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TA No. 66 of 2023 13.06.2023

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IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

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Dated this the 13^th day of June, 2023

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

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TRANSFERRED APPLICATION No. 66 of 2023

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(Originally filed before DRT- II, Chennai as OA No.765 of 2018 and thereafter transferred to this Tribunal and renumbered as TA No.66 of 2023)

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M/s.Canara Bank, Rep. by its Senior Manager, Mr.Venkatanarasimhan, No.150, Habibullah Road, T.Nagar, Chennai – 600 017. ….Applicant

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M/s.Total Supply Chain & Food Solutions Pvt. Ltd., Rep. by its Directors, Mrs.K.Satyapurnadevi and Mrs.Bandaru Nagalakshmi, No.146/3, Habibullah Road, T.Nagar, Chennai – 600 017.

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Also at:

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M/s.Total Supply Chain & Food Solutions Pvt. Ltd., Rep. by its Directors, Mrs.K.Satyapurnadevi and Mrs.Bandaru Nagalakshmi, No.61/8A, 2^nd Floor, Krishna Colony, 100 Feet Road, Vadapalani, Chennai – 600 026.

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Mrs.Bandaru Nagalakshmi, Director, Total Supply Chain & Food Solutions Pvt. Ltd., No.146/3, Habibullah Road, T.Nagar, Chennai – 600 017.

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TA No. 66 of 2023 13.06.2023

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Also at: Mrs.Bandaru Nagalakshmi, Director, Total Supply Chain & Food Solutions Pvt. Ltd., No.61/8A, 2^nd Floor, Krishna Colony, 100 Feet Road, Vadapalani, Chennai – 600 026.

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Also at:

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Mrs.Bandaru Nagalakshmi, No.103, Blcok D, Shanthi Gardens, Nacharam, Hyderabad – 500 076.

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Mrs.K.Satyapurna Devi, Director, Total Supply Chain & Food Solutions Pvt. Ltd., No.146/3, Habibullah Road, T.Nagar, Chennai – 600 017. Also at:

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Mrs.K.Satyapurna Devi, Director, Total Supply Chain & Food Solutions Pvt. Ltd., No.61/8A, 2^nd Floor, Krishna Colony, 100 Feet Road, Vadapalani, Chennai – 600 026.

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Also at:

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Mrs.K.Satyapurna Devi, No.103, Blcok D, Shanthi Gardens, Nacharam, Hyderabad – 500 076.

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TA No. 66 of 2023 13.06.2023

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Mrs.S.Hemalatha, W/o.Mr.P.N.Vasudevan, No.6, Anna Street, Thirumullaivoyal, Chennai – 600 062. Also at: Mrs.S.Hemalatha, W/o.Mr.P.N.Vasudevan, Door No.21 (Old No.12) Plot No.12 Part, Northern Side, Manikandapuram 3^rd Main Road, 1^st Right Street, Thirumullaivoyal, Chennai – 600 062.

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Mr.S.Selvaraj, S/o.Mr.S.Shanmugam, No.53/49, Manali New Town, Off. Ponneri High Road, Edayanchavadi Village, Thiruvallur – 600 103. Also at: Mr.S.Selvaraj, S/o.Mr.S.Shanmugam, Plot No.49, Block No.53, Manali New Town, Edayanchavadi Village, Thiruvallur – 600 103. ….Respondents

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Counsels on record / appeared:

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Counsel for Applicant : M/s.S.Parthasarathy.

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ORDER

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This OA is filed by the applicant bank for recovery of a sum of Rs.1,65,34,582/together with future interest and costs.

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TA No. 66 of 2023 13.06.2023

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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, the defendants have remitted a sum of Rs.40 lakhs on various dates and final payment was made on 28.03.2023 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 filed another memo praying for return of documents marked as Ex A-1 to A-20 and A-23 to A-27 to applicant bank.

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Notices to defendants 1 to 3 in the SOC memo returned unserved as ‘no such

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person’ in all three addresses, while notice to defendants 4 and 5 are duly served.

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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. Memo is signed by Senior Manager of applicant bank and defendants. Registry is directed to return documents marked as Ex A-1 to Ex A-20 and Ex A-23 to Ex A-27 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 13^th day of June, 2023)

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

Canara Bank v. Total Supply Chain And Food Solution Pvt. Ltd. And Four Others

Case brief

What is this about?

What did the court decide?

Canara Bank v. Total Supply Chain And Food Solution Pvt. Ltd. And Four Others

Case brief

What is this about?

What did the court decide?

What the court decided

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