Allowed
Punjab National Bank v. Ms Shield Industries
DRTOA/567/2023
Case brief
AI extract
What is this about?
The Bench allowed a joint application for recording compromise terms in a financial dispute. It observed that the Defendants had deposited the settled sum. The Court granted liberty to the Applicant Bank to issue an NOC for the Defendant after recovering the balance amount from the Government under the relevant scheme and disposed of the matter.
What did the court decide?
Application for recording compromise allowed; matter disposed of; liberty granted to issue NOC after Government recovery.