Quashed

Bank of India v. M S Sree Sai Agencies

DRT26 Aug 2024TA/1610/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal disposed of an application for recovery as settled outside the Tribunal. The applicant bank filed a full satisfaction memo indicating receipt of the agreed settlement amount under OTS. The court returned original documents and ordered refund of court fee.

What did the court decide?

The OA stands disposed of as settled outside the Tribunal. Original documents to be returned with refund of court fee.

Bank of India versus M S Sree Sai Agencies — Banking and Recovery | DRT (2024)

TA No.1610 of 2023

26.08.2024

IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

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Dated this the 26^th day of August, 2024

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

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TRANSFERRED APPLICATION No. 1610 of 2023

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(Originally filed before DRT- II, Chennai as OA 646/2019 and thereafter transferred to this Tribunal and renumbered as TA No 1610 of 2023)

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M/s. Bank of India K. K. Nagar Branch, No. 456, R. K. Shanmugam Road, Sector 6, K. K. Nagar, Chennai – 600 078. Represented by its Constituted Attorney ….Applicant

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-Vs-

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M/s. Sree Sai Agencies Plot No. 456, Ground Floor, Viduthalai Nagar Extension Sunnambu Kolathur, Chennai – 600 117.

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Mrs. S. Uma Maheswari W/o. Mr. S. Sachithanantham Proprietor, M/s. Sree Sai Agencies New No. 30, Old No. 976, Lakshmanasamy Salai, K.K. Nagar, Chennai – 600 078. …. Defendants

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Counsels on record / appeared:

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Counsel for Applicant : M/s. M. P. Venkateswaran Defendants set ex-parte on 30.11.2021

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PROCEEDINGS DATED 26.08.2024

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The Ld. Counsel submits that the matter is settled.

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Perused the Full Satisfaction Memo dated 21.08.2024 filed by the applicant bank on 23.08.2024, reporting:-

TA No.1610 of 2023

26.08.2024

OA is filed for recovery of Rs.30,91,352/-.

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Memo is filed by the applicant bank duly signed by the Chief Manager of the applicant bank as well as Counsel. It is submitted that the dispute is settled at Rs.6,10,000 on 24.07.2024 under OTS. The applicant bank is in receipt of entire amount agreed between the parties. The claim is thus satisfied.

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Having heard the Ld. Counsel for the applicant bank, there remains nothing

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to be considered in the present case in view of the full satisfaction Memo filed.

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Accordingly, the

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ORDER

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(a) OA stands disposed of as settled outside the Tribunal.

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(b) The original documents may be returned. The applicant is entitled to refund of Court Fee to the extent permissible under the Rules.

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Copies be communicated to all parties.

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Sd/(A.S. JAYACHANDRA)

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PRESIDING OFFICER (In-charge)

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(Dictated to Steno, who typed in the system, corrected, signed and pronounced in Open Court, on this 26^th day of August, 2024)

Bank of India v. M S Sree Sai Agencies

Case brief

What is this about?

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Bank of India v. M S Sree Sai Agencies

Case brief

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