Debts Recovery Tribunal disposed of an application for withdrawal of objection following an out-of-court settlement. The applicant Financial Institution received a certificate of no dues.
Application disposed off on grounds of settlement between the parties.
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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Debts Recovery Tribunal-III, Kolkata Order Sheet (Continuation)
Pegasus A. R.C. Pvt. Ltd.
Vs
Case No.oA.l3ool2o23
Sunrise Conclave Pvt.Ltd. & Ors.
| Date of Order |
Orderwithsignature | Officeaction withdateand dated signatureof partieswhen |
|---|---|---|
| OrderNo.3 06.05.2024 ps |
Present: ForApplicant ForDefendants Ld.CounselMr,A,Rashid Ld.Counselpresent 1A17624124istakenupforhearing. Heard Ld. counselforbothsides. Considered. Ld.counselforapplicant anddefendantsjointlyfiledaputup petitionbeinglNl625l2o24forhearingof lAlL624/2O24p?ying forwithdrawalofinstantOA. Sincepetition isputup, theI.A.is disposed off. lnstant1411624/24relatestojointapplicationforwithdrawalby thepartiesonthegroundof settlement. Infilingthispetitionitis statedthatOA/3O0/23wasiledby the FinancialInstitutionagainstthedefendantsforrealisationofa sumofRs.5,75,86,331.51ps. Pursuanttotheorderdated06/03124oftheHon'ble DRAT,Kolkatathematterhas beensettledamicablyout ofcourt andapplicantF.I.hasrealisedtheentiresettled amountof Rs.5,60,00,000/-as persettlement.ApplicantF.I.has alsoissued "NoDuesCertiflcate"infavour of thedefendants on OUO4/24. Itisstatedbythepartiesthatin view ofthe amicablesettlement betweentheparties,OA/300/23maybepermittedtobe withdrawn. Itappearsthatthematterhas beensettledbetweentheparties andapplicantF.I.doesnotwanttoproceedwiththecase.It appearsthatmatterhas beensettledinbetweentheparties amicablyoutofcourtandpartiesarenotwillingtoproceed withtheOA. Hence,ordered, ThatinstantOAl3OOl23alongwithpendingIAs,ifanybe andthe sameisdisposedoffornon prosecution ontheground of settlementbetweenthe parties.Interimorder ifanylsvacated. File isconsignedtotheRecord Room. (KafiarDe-Jl PresidingOfficerl DRT-3,KolkataI |
Pegasus A. R.C. Pvt. Ltd.
Sunrise Conclave Pvt. Ltd.
KafiarDe-Jl
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
