Disposed

Karnataka Bank Limited v. Mr G Charles Vasanthakumar

DRT29 Jan 2024TA/1630/2023

Case brief

AI extract

What is this about?

The Tribunal disposed of an outstanding application filed by the bank for recovery considering a settlement memo filed by the defendants via OTS where Rs.22 lakhs was remitted, treating the claim as settled out of court without costs and directing return of original documents.

What did the court decide?

Application disposed of as settled out of court without costs; return of original documents directed.

Karnataka Bank Limited versus Mr G Charles Vasanthakumar — Banking and Recovery | DRT (2024)

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T.A. No. 1630 of 2023

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29.01.2024

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IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

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Dated this the 29^th day of January, 2024

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Present: Shri Ganapathi K.R.K.

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Presiding Officer

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TRANSFERRED APPLICATION No. 1630 of 2023

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(Originally filed before DRT- II, Chennai as OA No.164 of 2019 and thereafter transferred to this Tribunal and renumbered as TA No.1630 of 2023)

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The Karnataka Bank Ltd., Branch Office At No.324, Thambu Chetty Street, Parrys, Chennai-600 001. Rep. by its Chief Manager

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….Applicants

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Mr.G.Charles Vasanthakumar

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Proprietor M/s. Grace Services

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S/o. George Augastin S-2, II Floor, Phase-1, Spencer Plaza, No.769, Anna Salai, Chennai-600 002.

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Also at

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Flat No. C-3, III Floor, Black Rose Rc Metha Green Park, Arul Nagar, Mathavaram Milk Colony Road, Mathavaram, Chennai – 600 051.

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Mrs.D.Esther Santhakumari, W/o. Mr.G.Charles Vasanthakumar, Flat no.C-3, III Floor, Black Rose, RC Metha Green Park, Arul Nagar, Mathavaram Milk Colony Road, Mathavarm, Chennai-600 051

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….Defendant s

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Counsels on record / appeared:

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Counsel for Applicant :

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M/s. Ramalingam & Associates

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T.A. No. 1630 of 2023

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29.01.2024

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ORDER

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This TA is filed by the applicant bank for recovery of a sum of Rs.28,44,759/together with future interest and costs.

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Memo vide SR No.365/24 is filed by applicant bank stating therein that during pendency of the above OA, defendants had approached applicant bank for settlement under OTS, which was accepted by applicant bank and accordingly, defendants had remitted a sum of Rs.22 lakhs 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 also prayed for return of original documents filed along with proof affidavit.

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Copy of memo is sent to other side by post and applicant bank had furnished postal receipts evidencing the same.

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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 all original documents filed along with proof affidavit to applicant bank under proper acknowledgment as per extant guidelines. All other interlocutory applications, if any pending shall stand closed.

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(Dictated to PS, transcribed by her, corrected, signed and processed through E-drt on this the 29^th day of January, 2024)

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Sd/- (GANAPATHI K.R.K)

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PRESIDING OFFICER

Karnataka Bank Limited v. Mr G Charles Vasanthakumar

Case brief

What is this about?

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Karnataka Bank Limited v. Mr G Charles Vasanthakumar

Case brief

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