Disposed

Punjab National Bank (Oriental Bank of Commerce) v. Michel Thomas

DRT3 Apr 2024TA/1424/2023

Case brief

AI extract

What is this about?

This Debts Recovery Tribunal disposed of a transferred application filed by Punjab National Bank for recovery of dues. The Tribunal was satisfied that the claim had partially been settled out of court, allowing the disposal without costs and directing the return of original documents.

What did the court decide?

Application disposed as settled out of Court without costs; original documents returned to applicant bank.

Punjab National Bank (Oriental Bank of Commerce) versus Michel… — Banking and Recovery | DRT (2024)

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T.A. No. 1424 of 2023

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03.04.2024

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IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

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Dated this the 03^rd day of April, 2024

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Present: Shri Ganapathi K.R.K. Presiding Officer

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TRANSFERRED APPLICATION No. 1424 of 2023

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(Originally filed before DRT- II, Chennai as OA 108/2020 and thereafter transferred to this Tribunal and renumbered as TA No 1424 of 2023)

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M/s. Punjab National Bank Circle -Sastra-Chennai North Anna Salai, Chennai-600 002. Rep by its Chief Manager. ….Applicant -Vs-

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Mr. Michel Thomas, S/o. Fernades No.26, Flat No. G-2, Sethil Andawar Street Saligramam, Chennai-600 093. …..Defendant

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Counsels on record / appeared:

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Counsel for Applicant : M/s. E. Kumar

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ORDER

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This OA is filed by the applicant bank for recovery of a sum of Rs.41,46,406.10 p together with future interest and costs.

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A memo is filed by applicant bank stating therein that during pendency of the above OA, defendant had approached applicant bank for settlement under OTS, which was accepted by applicant bank and accordingly, defendant had remitted a sum of Rs.19,20,000/- towards full and final settlement of the OA claim. Hence, applicant bank prayed that the OA claim may be treated as settled out of Court and prayed for refund of Court fee. Applicant bank had also filed another memo for return of original documents filed along with proof affidavit.

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T.A. No. 1424 of 2023

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03.04.2024

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Perused. Memo is taken on record. Allowed. In the result, this OA is disposed of as settled out of Court, however without costs. Registry is directed to return original documents (Ex.A-1 to A-14) to applicant bank under proper acknowledgment. Applicant bank to file appropriate application for refund of Court fee as per extant guidelines. All

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other interlocutory applications, if any, pending shall stand closed.

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(Dictated to PS, transcribed by her, corrected, signed and pronounced by me in Open Court, on this the 03^rd day of April, 2024)

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Sd/(GANAPATHI K.R.K) PRESIDING OFFICER

Punjab National Bank (Oriental Bank of Commerce) v. Michel Thomas

Case brief

What is this about?

What did the court decide?

Punjab National Bank (Oriental Bank of Commerce) v. Michel Thomas

Case brief

What is this about?

What did the court decide?

What the court decided

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