The tribunal disposed of the takeover application as settled. The applicant bank accepted a one-time settlement payment of Rs. 40 lakhs by the defendants in full discharge of the dues, amounting to Rs. 74.28 lakhs. The loan account is closed.
The takeover application was disposed of as settled outside the Tribunal. Original documents were to be returned.
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.
TA No.1376 of 2023
16.07.2024
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 16th day of July, 2024
Present: SHRI A. S. JAYACHANDRA Presiding Officer (In – charge)
TRANSFERRED APPLICATION No. 1376 of 2023
(Originally filed before DRT- II, Chennai as OA 545/2020 and thereafter transferred to this Tribunal and renumbered as TA No 1376 of 2023)
Bank of Baroda, Zonal Stressed Asset Recovery Branch, 74, Theyagaraya Road, T. Nagar Chennai – 600 017. Represented by its Chief Manager .…. Applicant
-Vs-
Also at:
2/9, 16th Cross Street, Indira Nagar, Adyar, Chennai – 600 020.
Also at:
2/9, 16th Cross Street, Indira Nagar, Adyar, Chennai – 600 020.
TA No.1376 of 2023
16.07.2024
Also at:
2/9, 16th Cross Street, Indira Nagar, Adyar, Chennai – 600 020.
…. Defendants
Counsels on record / appeared:
Counsel for Applicant : M/s. S. R. Sumathy Counsel for Defendant : M/s. P. Ganesh Kumar
PROCEEDINGS DATED 16.07.2024
Orders on full satisfaction Memo dated 12.07.202 4.
The original documents [Ex.A01 to Ex.A20] be returned as per Form 11, if found, on record.
Sd/(A.S. JAYACHANDRA) PRESIDING OFFICER (In-charge)
Bank of Baroda, Zonal Stressed Asset Recovery Branch
D. Valli
D. Jagadeesan
M. Devamani
A. S. Jayachandra
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
