The Tribunal disposed of a recovery application (OA) filed by Union Bank of India for over Rs. 20 crores, allowing the claim as settled out of court after the defendants remitted a partial sum under an OTS scheme, though without costs.
Order disposed of as settled out of Court, however without costs. Pending interlocutory applications closed.
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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TA No. 763 of 2023 11.07.2023
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 11th day of July, 2023
Present: Shri Ganapathi K.R.K. Presiding Officer
TRANSFERRED APPLICATION No. 763 of 2023
(Originally filed before DRT- II, Chennai as OA No.336 of 2017 and thereafter transferred to this Tribunal and renumbered as TA No.763 of 2023)
Union Bank of India, Overseas Branch, 15, Hunters Road, Doveton, Purasaiwalkam, Chennai – 600 024. ….Applicant
Vs
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TA No. 763 of 2023 11.07.2023
….Defendants
(*Amended as per order dated 09.07.2018 in I.A. No. 418/2018)
Counsels on record / appeared:
Counsel for Applicant : M/s. V. Sivakumar & S. Geethanjali Counsel for Defendants 2, 3, 4 & 6 : M/s. Dorairajan
ORDER
Rs.20,67,53,461.35p together with future interest and costs.
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TA No. 763 of 2023 11.07.2023
receipts evidencing the same.
for refund of Court fee as per extant guidelines.
(Dictated to PS, transcribed by her, corrected, signed and processed through E-drt on this the 11th day of July, 2023)
Sd/- (GANAPATHI K.R.K) PRESIDING OFFICER
1 issue framed by the court
Whether the outstanding claim should be disposed of as settled given the remittance accepted under the once-through settlement scheme.
Union Bank of India
M/s. Nag Yang Shoes Pvt. Ltd.
Mr.S. ChockalingamPillai
Mrs. C. Shanmugathammal
Mr. C. Jagdeesh
M/s. Nag Leathers Pvt. Ltd.
Ganapathi K.R.K
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
