Allowed

State Bank of India v. M/s Alfa Citronella Tel Udyog

DRT4 Jun 2024MA/39/2024

Case brief

AI extract

What is this about?

In a miscellaneous application, the Recovery Tribunal allowed the State Bank of India to withdraw recovery proceedings following a One Time Settlement where the respondent deposited Rs. 15 Lacs, settling the account and requiring the closure of files. Relevant for cases involving post-settlement withdrawal applications.

What did the court decide?

Miscellaneous Application No. 39/2024 allowed; Recovery Officer directed to close proceedings and return original documents.

State Bank of India versus M/s Alfa Citronella Tel Udyog — Banking and Recovery | DRT (2024)

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IN THE DEBTS RECOVERY TRIBUNAL,AURANGABAD (BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD) ORDER SHEET

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0 S	4.06.20 r. No.4	24 3 MA No.39/2024
Classifi cation	No. of Exh.
		MISCELLANEOUS APPLICATION No.39/2024 State Bank of India ..Applicant Versus M/s. Alfa Citronella Tel Udyog through its Proprietor Smt. Shehanaz Begum w/o Dr. Karim & others ..Respondents Mr. R.C. Patil - Advocate for the applicant None for the Respondents. The matter is taken through Hybrid.
		1. By this Misc. Application, the learned counsel for the applicant bank seeks permission of this Tribunal to withdraw
		the Recovery Proceeding No.18/2011 issued in Original Application No.9/2009 as the loan account is settled under One Time Settlement i.e. Rinn Samadhan Scheme 2023-24 for Rs.15,00,000/- (Rupees Fifteen Lacs only) and the said amount has been deposited by the respondent and as such the loan account is closed. 2. The applicant has made out the case for withdrawal of the Recovery Certificate as it is satisfied. 3. In view of the above, I pass the following order: ORDER
		A. Miscellaneous Application No. 39/2024 is allowed.

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[SBJ]

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(MA No. 39/2024) Page 1 of 2

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IN THE DEBTS RECOVERY TRIBUNAL,AURANGABAD (BEFORE HON’BLE PRESIDING OFFICER, DRT AT AURANGABAD) ORDER SHEET

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B. Copy of this order be sent to the learned Recovery Officer for information.

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C. The Recovery Officer is directed to close the Recovery Proceedings and also consigned to the record room.

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D. The Recovery Officer may look into the factum with the original documents if in the file, the same shall be returned to the applicant bank as per procedure.

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E. Consign the file to the Record Room.

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(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Aurangabad

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[SBJ] (MA No. 39/2024) Page 2 of 2

State Bank of India v. M/s Alfa Citronella Tel Udyog

Case brief

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State Bank of India v. M/s Alfa Citronella Tel Udyog

Case brief

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What did the court decide?

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