Disposed

Tamilnad Mercantile Bank Limited v. Ms Greenway Traders

DRT27 Feb 2024OA/21/2024

Case brief

AI extract

What is this about?

This court disposed of an original application filed by a bank for recovery of dues. The court accepted a full satisfaction memo filed by the applicant bank upon settlement of the entire claim out of court via a pre-settlement scheme. The OA was treated as settled without costs.

What did the court decide?

OA declared settled out of court; costs waived; court fee refund processed.

Tamilnad Mercantile Bank Limited versus Ms Greenway Traders — DRT (2024) — LawSathi Research

O.A. No.21 of 2024

27.02.2024

IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

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Dated this the 27^th day of February, 2024

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

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ORIGINAL APPLICATION No. 21 of 2024

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M/s.Tamilnad Mercantile Bank Ltd., No.40A, Vanigar Street, Kancheepuram-631 502. Rep by its Manager Mr. V.N. Thanga Balaji

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….Applicant

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-Vs-

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M/s. Green way Traders, Rep by its Prop. Mr. B. Suresh, S/o. Late Mr. A. Balasundaram, D. No. 8, Kolla Chathiram Street, Kancheepuram-631 502.

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Also at: No.136, Kalvai Street, Govindavadi Village, Kancheepuram-631 502.

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Mr. B. Suresh S/o. Late Mr. A. Balasundaram, Prop. M/s. Greenway Traders D. No. 8, Kolla Chathiram Street, Kancheepuram-631 502.

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Also at: No.136, Kalvai Street, Govindavadi Village, Kancheepuram-631 502.

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Mrs. P. Santhiya W/o. Mr. P. Suresh D. No. Old No. 1/124, New No.135, Kalvai Street, Govindavadi Village, Kancheepuram-631 502. Also at: Door No.41/26A, Varadappa Street, Oli Mohammedpet, Kancheepuram-631 502

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Also at: No.67, Mettu Street Pallikudathan Street, Kancheepuram-631 502.

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Mrs. B. Usha Rani W/o. Late Mr. A. Balasundaram, No.136, Kalvai Kalvai Street, Govindavadi Village, Kancheepuram-631 502.

O.A. No.21 of 2024

27.02.2024

Mr. Sunil Kumar S/o. Late Mr. A. Balasundaram, No.157/1 Ward 1, Kalvai Street, Govindavadi Village, Kancheepuram-631 502.

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Mr. B. Gopinath, S/o. Mr. A. Balasundaram, No.13 C 56, Velathamman Kovil Street, Kancheepuram-631 502. ….Defendants

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Counsels on record / appeared: Counsel for Applicant : M/s. E. Kumar

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ORDER

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This OA is filed by the applicant bank for recovery of a sum of Rs.91,35,964.56 /- together with future interest and costs.

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A full satisfaction 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.97,86,999.02p 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 refund of court fee.

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Memo is taken on record. Allowed. In the result, this OA is disposed of as settled out of Court, however without costs. Memo is signed by Manager, Kancheepuram Branch of Tamil Nadu Mercantile Bank Ltd. Registry is directed to verify the signatures and process refund of court fee as per extant guidelines. All

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other interlocutory applications, if any pending shall stand closed.

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(Dictated to Steno, transcribed by her, corrected, signed and pronounced by me in Open Court, on this the 27^th day of February, 2024)

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

Tamilnad Mercantile Bank Limited v. Ms Greenway Traders

Case brief

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Tamilnad Mercantile Bank Limited v. Ms Greenway Traders

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