Disposed

Jammu and Kashmir Bank Limited v. Maas Sanitary and Ceramics

DRT30 Jul 2024TA/1402/2023

Case brief

AI extract

What is this about?

The DRT-III, Chennai disposed of a transferred application by the Jammu and Kashmir Bank Limited seeking recovery of debts. The court recorded that the amount was fully settled via an OTS proposal, totaling Rs.47,67,343, marking the case as settled outside the Tribunal.

What did the court decide?

Application disposed as outside settlement; original documents returned to applicant.

Jammu and Kashmir Bank Limited versus Maas Sanitary and Ceramics — Banking and Recovery | DRT (2024)

¶1

TA No.1402 of 2023

¶2

30.07.2024

¶3

IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

¶4

Dated this the 30^th day of July, 2024

¶5

Present: SHRI A. S. JAYACHANDRA Presiding Officer (In – charge)

¶6

TRANSFERRED APPLICATION No. 1402 of 2023

¶7

(Originally filed before DRT- II, Chennai as OA 225/2022 and thereafter transferred to this Tribunal and renumbered as TA No 1402 of 2023)

¶8

The Jammu and Kashmir Bank Limited Represented by its Branch Head and Power of Attorney Holder New No. 221, Old No. 162, 1^st Floor, Metro Plaza, Mount Road, Chennai – 600 002.

¶9

.…. Applicant

¶10

-Vs-

¶11

M/s. Maas Sanitary and Ceramics, Represented by its Partners,

¶12

Mr. A.M.M. Musthafa and Mr. Abdul Salam, New No. 20, Old No. 45, Post Office Street, Parrys, Chennai – 600 001.

¶13

Mr. A.M.M. Musthafa, S/o. Mr. Abdul Hameed, No. 122/91, Raman Street, Royapuram, Chennai – 600 013.

¶14

Mr. Abdul Salam, S/o. Mr. G. M. Sultan Mohideen Old No. 23, New No. 53, Shaikh Maistry, 2^nd Street, Royapuram, Chennai – 600 013.

¶15

Mr. Asif Nabi Mir, S/o. Mr. Gulam Nabi Mir, No. 16/69, Central Street, Garden Colony, Kilpauk, Chennai – 600 010.

¶16

Mrs. A. Sureth Nisha, W/o. Mr. A.M.M. Musthafa No. 122/91, Raman Street, Royapuram, Chennai – 600 013. …. Defendants

¶17

Counsels on record / appeared:

¶18

Counsel for Applicant : Mr. Chetan Sagar for M/s. Arjun Suresh Defendants were set ex-parte on 01.08.2023

¶19

TA No.1402 of 2023

¶20

30.07.2024

¶21

PROCEEDINGS DATED 30.07.2024

¶22

Heard the Ld. counsel on the full satisfaction memo dated 20.02.2024.

¶23

Ld. Counsel for the applicant bank submits that the OA is filed for recovery of Rs.53,42,092.76p

¶24

It is further submitted that the bank accepted the OTS proposal. The defendant paid the amount of Rs.38,30,876 on the first sanction letter dated 05.09.2023 and further paid a sum of Rs.9,36,467 pm on the second sanction letter dated 20.11.2023. The defendants had paid altogether a sum of Rs.47,67,343/- by way of OTS.

¶25

The applicant bank is in receipt of the entire amount agreed between the parties. The claim is thus satisfied.

¶26

In view of the above, OA stands disposed of as settled outside the Tribunal and the same is taken on record.

¶27

With this realization, the applicant bank prays for return of original documents [Ex.A01 to Ex.A36]. The same may be returned as per the Form 11, if found on record subject to no legal impediments.

¶28

Copies be communicated to the parties.

¶29

Sd/(A.S. JAYACHANDRA) PRESIDING OFFICER (In-charge)

Jammu and Kashmir Bank Limited v. Maas Sanitary and Ceramics

Case brief

What is this about?

What did the court decide?

Jammu and Kashmir Bank Limited v. Maas Sanitary and Ceramics

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

Similar cases

State Bank of India versus R Tara

Canara Bank versus Durairaj

Bank of Baroda (Vijaya Bank) versus Valli

S Medona versus Hdb Financial Service Limited

Rebello Sagaya Nathan versus Ugro Capital Ltd. and Zion Consultants and Ruby Joseph and Joseph Rebecca Elizabeth Susanna and Charles Anand Joseph

Kirubakaran versus State Bank of India