Raj Rani v. State Bank of India
Case brief
What is this about?
In a Lok Adalat under SA No.32/2024, the applicant offered payment of Rs.19.50 lacs against a claim of Rs.26 lacs, with the bank agreeing to settle the matter.
What did the court decide?
Referral of file to record room following settlement for Rs.19.50 lacs, subject to full recovery penalty in case of default.
What the court decided
DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
SA No.32/2024 Raj Rani Vs. State Bank of India AWARD
09.03.2024
Item No.248
Present: Sh.Karan Garg, Counsel for the applicant alongwith the applicant in person.
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Sh.KD ’-Sachdeva, Counsel for respondent bank alongwith Sh.Raman Kumar, Nodal Officer.
File put up in the "Lok Adalat".
In this SA, it is stated that a sum of Rs.26 lacs is due. However, bank is ready to settle the matter for Rs.19.50 lacs. It is stated that the applicant would pay Rs.7 lacs by demand draft by Monday and another sum of Rs.10.50 lacs on or before 31.03.2024 and the remaining sum of Rs.2 lacs by 31.05.2024. In case of any default, bank would be entitled to recover whole of the amount due. File be consignedn~he record room after
Parties & counsel
- applicant
Raj Rani
- respondent
State Bank of India
Case details
As recorded by the court registry
All orders in this case
2 orders share this CNR
- Order 1 · P.o
- Order 2 — this page · P.o
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