In an application for closure of recovery proceedings, the Tribunal directed the Recovery Officer to close the proceedings for Recovery Certificate No. 537/2022 after the matter was settled for a specified amount.
The Recovery Officer is directed to close the proceedings of Recovery Certificate No. 537/2022.
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Court of the Presiding Officer Debts Recovery Tribunal, Jaipur
Item No. 23
Case No.MA/215/2025 IN OA/538/2021
KOTAK MAHINDRA BANK LIMITED Vs SHRI VIDHYA MANDIR MANAGEMENT SOCIETY
Date: 22.12.2025.
Proceedings through hybrid mode Present:
Shri Jitendra Choudhary, Counsel for the applicant
Counsel for the applicant has filed this Misc. Application in OA no. 538/2021 which was decided by this Tribunal on 02.08.2022. Counsel for the applicant submitted that during the recovery proceedings, the borrowers/ certificate debtors have approached the applicant for closure of the loan account and the matter has been settled for an amount of Rs. 27,46,777/-, therefore, he prayed that the recovery proceedings pending before the Ld. Recovery Officer in Recovery Certificate No. 537/2022 may kindly be closed.
Heard arguments.
The Ld. Recovery Officer is directed to close the proceedings of Recovery Certificate No. 537/2022.
Accordingly, file of Misc. Application and Recovery Certificate be consigned to record. Copy of order be uploaded on website and sent to the Ld. Recovery Officer.
(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Jaipur
1 issue framed by the court
Whether recovery proceedings should be closed after settlement of the loan amount.
KOTAK MAHINDRA BANK LIMITED
SHRI VIDHYA MANDIR MANAGEMENT SOCIETY
Vimal Gupta
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
