Disposed

Union Bank of India v. Soundaranayaki

DRT6 Feb 2024TA/402/2023

Case brief

AI extract

What is this about?

The Tribunal disposed of the out-of-court settlement application by the applicant bank, which was filed to recover a specific sum. The respondents had remitted an amount towards a full and final settlement under OTS during the pendency of the application.

What did the court decide?

The OA claim was treated as settled out of court; the application is disposed of without costs, and original documents are to be returned.

Union Bank of India versus Soundaranayaki — Banking and Recovery | DRT (2024)

T.A. No. 402 of 2023

06.02.2024

IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI

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Dated this the 06^th day of February, 2024

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Present: Shri Ganapathi K.R.K.

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Presiding Officer

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TRANSFERRED APPLICATION No. 402 of 2023

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(Originally filed before DRT- II, Chennai as OA 437/2020 and thereafter transferred to this Tribunal and renumbered as TA No 402 of 2023)

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M/s. Union Bank of India, Besant Nagar Branch, No.58, A.V. Church Road, Besant Nagar, Chennai-600 090. Rep by its Manager.

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….Applicant

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-Vs-

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Mrs. Soundaranayaki R, Flat No.201, Block No B,

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2^nd Floor, Anirudh Apartments, Plot Nos.52,53 and 54, Jothi Nagar, Kelambakkam, Chennai-603 103.

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Mr. Kannan M, Flat No.201, Block No B, 2^nd Floor, Anirudh Apartments, Plot Nos.52,53 and 54, Jothi Nagar, Kelambakkam, Chennai-603 103.

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…..Defendants

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Counsels on record / appeared:

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Counsel for Applicant : M/s. M. Geethapriya

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ORDER

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This OA is filed by the applicant bank for recovery of a sum of Rs.25,42,755/together with future interest and costs.

T.A. No. 402 of 2023

06.02.2024

A memo 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.15,91,000/- 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 also prayed for return of original documents filed along with proof affidavit.

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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.A1 to Ex.A38) 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 pronounced in open court on this the 06^th day of February, 2024)

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

Union Bank of India v. Soundaranayaki

Case brief

What is this about?

What did the court decide?

Union Bank of India v. Soundaranayaki

Case brief

What is this about?

What did the court decide?

What the court decided

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