The tribunal recorded the parties' out-of-court settlement regarding a debt recovery matter and disposed of the original application with no order as to costs.
Consent settlement terms accepted; Original Application disposed of with no order as to costs.
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.
IN THE DEBTS RECOVERY TRIBUNAL No.2, MUMBAI (BEFORE HON’BLE PRESIDING OFFICER) ORDER SHEET
05.06.2024 Sr. No.9
OA No.302 of 2023
| classifi -cation |
No. of Exh. |
Union Bank of India Vs. M/s. Dolphine Clothing & Ors. |
|---|---|---|
| Mr Nainesh Amin – Advocate for the applicant. Mr Shailesh Kumar Singh – officer of the applicant bank. Ms Hema Desai – Advocate for defendants. |
||
| Mrs Mamta D. Jain – defendant nos.2a and 3 present in person. Mr Nilesh D. Jain – defendant nos.2a and 4 present in person. Ms Dolphy Jain – defendant no.2c present in person. |
||
| 12 | 1. The parties have amicably settled the matter for Rs.5.40 crores as set out in clause 4 of the consent terms (exhibit-12). The payment schedule is set out in clause 5. In case of default, the parties record their consent as per exit clauses 6 and 7. The undertaking given by the defendants in paragraphs 8, 13 and 14 is accepted. The parties present in the Court understood the consent terms and after that signed it. The consent terms is voluntarily made by the parties. The learned counsel for the parties requests the Tribunal to dispose of the Original Application. Accordingly, Original Application No.302 of 2023 stands disposed of with no order as to costs. |
Page 1 of 2
Radhika
Page 2 of 2
Union Bank of India
M/s. Dolphine Clothing & Ors.
Presiding Officer
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
