The Tribunal disposed of the transferred application by accord, allowing the compromise settlement of Rs.34.50 lakhs between the applicant bank and defendant without costs and closing pending applications.
Compromise of Rs.34.50 lakhs allowed without costs; other applications closed.
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.
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T.A. No. 703 of 2023
29.01.2024
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 29th day of January, 2024
Present: Shri Ganapathi K.R.K. Presiding Officer
TRANSFERRED APPLICATION No. 703 of 2023
(Originally filed before DRT- II, Chennai as OA No.360 of 2021 and thereafter transferred to this Tribunal and renumbered as TA No.703 of 2023)
M/s.Bank of India, Chennai Bullion Banking Branch,T.Nagar Chennai-600 017.
….Applicant
Vs
M/s. Aalaya Jewel Industry Private Limited, No.80/1, First Floor, Govindaswamy Layout, Balaji Avenue, Coimbatore-641 001.
….Defendant
Counsels on record / appeared:
Counsel for Applicant : M/s. R.Umasuthan & K.Bhaskar Counsel For Defendant : M/s.K.Suresh
ORDER
Rs.2,27,70,746.50p together with future interest and costs.
between parties for a sum of Rs.34.50 lakhs and hence prayed for disposal of OA as settled out of Court. Copy of ‘No due certificate’ dated 06.11.2023 issued by applicant bank is enclosed along with memo filed on behalf of defendants and prayed for passing necessary orders.
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T.A. No. 703 of 2023
29.01.2024
pending shall stand closed
(Dictated to PS, transcribed by her, corrected, signed and pronounced by me in Open Court, on this the 29th day of January, 2024)
Sd/- (GANAPATHI K.R.K) PRESIDING OFFICER
M/s. Bank of India, Chennai Bullion Banking Branch, T.Nagar Chennai-600 017
Shri Ganapathi K.R.K
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
