Disposed

Bank of India v. Jaidev Impex

DRT26 Feb 2024OA/211/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal considered an Original Application filed by Bank of India for recovery of a sum. The court allowed a full satisfaction memo filed by the applicant, noting that the defendants had remitted a substantial sum pursuant to an Out of Court Settlement.

What did the court decide?

The OA is disposed of as Settled out of Court without costs; all pending interlocutory applications are closed.

Bank of India versus Jaidev Impex — Contract and Commercial Disputes | DRT (2024)

OA 211 of 2023

26.02.2024

IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

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Dated this the 26^th day of February, 2024

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Present: Shri Ganapathi K.R.K.

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Presiding Officer

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ORIGINAL APPLICATION No. 211 of 2023

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Bank of India Mount Road Branch “Dhun Building”, No.827, Anna Salai, Chennai – 600 002. Represented by Constituted Attorney

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.…. Applicant

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-Vs-

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M/s. Jaidev Impex, Represented by its Partners,

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Mr. S. T. Rajaram, S/o. Shri. Devaraj Mr. D. Saravanakumar, S/o. Shri. Durairajan, No.83A, Second Floor, Brindhavan Nagar, Arcot Road, Chennai – 600 087.

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S. T. Rajaram, S/o. Shri. Devaraj, Partner M/s. Jaidev Impex,

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No.167/37, C-3, Gopala Krishnan Colony, 3^rd Cross Street, Periyar Nagar,

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Krishnagiri – 635 001.

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D. Saravanakumar, S/o. Shri. Durairajan Partner M/s. Jaidev Impex,

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. Perambulur Main Road, Vepanathattai, Perambulur – 621 103. Both the Defendants 2 & 3 are also at: No.13, Vandikaran Street, Race View Apartment, Velachery – 600 042. ….Defendants Counsels on record / appeared:

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Counsel for Applicant : M/s. K. Nazir Ahmed

OA 211 of 2023

26.02.2024

ORDER

This OA is filed by the applicant bank for recovery of a sum of Rs.95,01,958.46p together with future interest and costs.

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A full satisfaction memo is filed applicant bank stating therein that during pendency of the above OA, defendants had approached applicant bank for settlement under OTS, which was accepted by applicant and accordingly, defendants had remitted a sum of Rs.65 lakhs on 17.11.2023. Hence, applicant bank prayed that the OA claim may be treated as settled out of Court.

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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.

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(Dictated to Steno, transcribed by her, corrected, signed and pronounced by me in Open Court, on this the 26^th day of February, 2024)

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

Bank of India v. Jaidev Impex

Case brief

What is this about?

What did the court decide?

Bank of India v. Jaidev Impex

Case brief

What is this about?

What did the court decide?

What the court decided

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