The Debts Recovery Tribunal disposed of the original application by the bank for recovery, treating the claim as settled out of court after partial remission by the defendants under the One Time Settlement scheme, without awarding costs.
OA disposed as settled out of court without costs; documents returned to applicant.
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 1824 of 2023
15.02.2024
1
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 15th day of February, 2024
Present: Shri Ganapathi K.R.K.
Presiding Officer
TRANSFERRED APPLICATION No. 1824 of 2023
(Originally filed before DRT- II, Chennai as OA 458/2018 and thereafter transferred to this Tribunal and renumbered as TA No 1824 of 2023)
UCO Bank,
Adyar Branch, Rep by its Chief Manager, New No.85/1, Old No.37, First Main Road, Gandhi Nagar, Adyar, Chennai- 600 020.
….Applicant
-Vs-
Also at
Flat No.S-2,(Front Side) 2nd Floor, D.No.13L, Jumunabai Nagar 1st Street, Sembium,Chennai-600 011.
…..Defendants
Counsels on record / appeared:
Counsel for Applicant : M/s. N.Naganathan
ORDER
TA 1824 of 2023
2
15.02.2024
2. A memo is filed by applicant bank stating therein that during pendency of the above OA, defendants have approached applicant bank for settlement under OTS, which was accepted by applicant bank and accordingly, defendants had remitted a sum of Rs.30,33,000/- on 30.12.2023 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 filed another memo praying for return of documents marked as Ex A-1 to A-17.
3. 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 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.
(Dictated to PS, transcribed by her, corrected, signed and pronounced in open court on this the 15th day of February, 2024)
Sd/(GANAPATHI K.R.K) PRESIDING OFFICER
UCO Bank
Mrs. D.K.Kavitha
Mr. S. Mahesh Sundaramoorthy
Ganapathi K.R.K.
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
