Idbi Bank v. M/S a-One Group
Case brief
What is this about?
In an application by a debtor seeking closure of recovery proceedings after a settlement with IDBI Bank, the Debt Recovery Tribunal ordered the Recovery Officer to close the pending proceedings despite the bank not issuing a No Dues Certificate.
What did the court decide?
Recovery Certificate No. 505/2021 was closed and the application file consigned to the record.
What the court decided
Court of the Presiding Officer Debts Recovery Tribunal, Jaipur
Item No. 7
Case No.MA/87/2025 IN OA/453/2020
IDBI BANK Vs M/S A-ONE GROUP
Date: 26.06.2025.
Proceedings through hybrid mode
Shri Ashish Tiwari, Counsel for the Applicant
Counsel for the applicant has filed this Misc. Application in OA no. 453/2020 which was decided ex-parte by this Tribunal and he submitted that the matter has been settled with the applicant bank for Rs. 33,09,731/- and No Dues Certificate has been issued by bank, therefore, he prayed that the recovery proceedings pending before the Ld. Recovery Officer in Recovery Certificate No. 505/2021 may kindly be closed.
Heard arguments.
The Ld. Recovery Officer is directed to close the proceedings of Recovery Certificate No. 505/2021. 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)
Issues for consideration
1 issue framed by the court
Whether pending recovery proceedings may be closed upon settlement and non-issuance of No Dues Certificate by the bank.
Parties & counsel
- petitioner
IDBI BANK
- applicant
MS A-ONE GROUP
Coram
Vimal Gupta
Case details
As recorded by the court registry
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