This is an award passed by a National Lok Adalat dealing with an arbitration reference regarding a bank recovery claim.
The claim was disposed of in terms of the settlement; the parties amicably settled the dispute at Rs. 50,00,000.-
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.
BEFORE THE NATIONAL LOK ADALAT AT DEBTS RECOVERY TRIBUNAL-3, KOLKATA. JEEVANSUDHA BUILDING, 42C,JAWAHARLAL NEHRU ROAO
8rH FLooR, KoLKATA-7oo o71
Dated September 14, 2024
Plaintiff:
Defendant/Respondent
Union Bank of lndia Prasanta Kumar Mutt
Case No. OA/s6a/2022(Sl No.4)
PRESENT:
(1) SHRI KAMAL DE, Judicial Officer (Retd.)
(2) MS. DEBJANI SAHU, Advocate (Member)
AWARD
Upon consent of theparties, the disputebetweenthe parties have been referredfor determination to the Lok Adalat and theparties having compromised /settledthe case/matter, the following award ispassed in termsof the settlement :-
The case is taken up for hearing.
The claim of thepetitioner Eank recoverablefromthe Defendant amounts to Rs. 50,04, 132.92pplus further interest
The parties have amicably settled disputeat Rs, 5o,oo,ooo/-.
In view of the compromise arrivedbetweenthe parties the oA is disposedof in terms of the settlement.
Bank may file separate application beforeReqistrarfor refund of courtfees. Registrar will do the needful in accordancewith law,
n \ r.,^'--:---s
(SHRI KAMAL DE) (MS. DEBJANI SAHU) Judicial Officer (Retd.) Advocate (Member)
1 issue framed by the court
How to dispose of an arbitration reference under the Arbitration and Conciliation Act, 1996, when parties have settled the outstanding claim.
Union Bank of India
Prasanta Kumar Mutt
Kamal De Judicial Officer (Retd.)
Debjani Sahu Advocate (Member)
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
