Canara Bank v. Durairaj
Case brief
What is this about?
The Tribunal disposed of the transfer application and the original recovery application as settled. The Defendants paid the agreed settlement amount outside the Tribunal, satisfying the Applicant's claim.
What did the court decide?
The recovery application is disposed of as settled outside the Tribunal; security documents are to be returned.
What the court decided
TA No.1883 of 2023
23.07.2024
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 23rd day of July, 2024
Present: SHRI A. S. JAYACHANDRA Presiding Officer (In – charge)
TRANSFERRED APPLICATION No. 1883 of 2023
(Originally filed before DRT- II, Chennai as OA 524/2019 and thereafter transferred to this Tribunal and renumbered as TA No 1883 of 2023)
M/s. Syndicate Bank Saidapet Branch, Rep. by its Chief Manager No. 54, Seshachala Mudali Street, Saidapet, Chennai – 600 015. .…. Applicant -Vs-
- Mr. A. Durairaj, S/o. Arjunan, Plot No. 4, S-4, 2nd Floor, 14 H Block, Pushpa Nagar, Nungambakkam, Chennai – 600 034.
- Mr. R. Rajesh, S/o. Raman, No. 19/41, Nehru Street, Avvai Nagar, Choolaimedu, Chennai – 600 094. …. Defendants
Counsels on record / appeared:
Issues for consideration
1 issue framed by the court
Whether the Debt Recovery Tribunal should dispose of the recovery application upon payment of agreed settlement amount outside the Tribunal.
Parties & counsel
- applicant
M/s. Syndicate Bank Saidapet Branch
- respondent
Mr. A. Durairaj
- respondent
Mr. R. Rajesh
Coram
Case details
As recorded by the court registry
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