The Debts Recovery Tribunal dismissed the borrower's application seeking closure of recovery proceedings under Recovery Certificate No. 609/2021 after a settlement was reached between the parties.
Directed the Recovery Officer to close the proceedings of Recovery Certificate No. 609/2021.
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Court of the Presiding Officer Debts Recovery Tribunal, Jaipur
Item No. 45
Case No.MA/217/2025 IN OA/609/2021
KOTAK MAHINDRA BANK LIMITED Vs CHUTRA RAM
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. 609/2021which was decided by this Tribunal on 07.09.2022. 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. 22,76,321/-, therefore, he prayed that the recovery proceedings pending before the Ld. Recovery Officer in Recovery Certificate No. 609/2021 may kindly be closed.
Heard arguments.
The Ld. Recovery Officer is directed to close the proceedings of Recovery Certificate No. 609/2021.
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
3 issues framed by the court
Whether recovery proceedings under Recovery Certificate No. 609/2021 can be closed upon settlement of the outstanding amount.
Whether the Tribunal can direct the Recovery Officer to close the pending recovery proceedings based on settlement.
Whether the settlement amount of Rs. 22,76,321/- satisfactorily discharges the underlying debt.
Kotak Mahindra Bank Limited
Chutra Ram
Vimal Gupta
As recorded by the court registry
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