Dismissed

Punjab National Bank v. M/s S.N. Enterprises and others

DRT29 Apr 2025OA/287/2023

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal, Patna, heard a case under OA 287 of 2023 in a Special Lok Adalat. The court settled the dispute for a specific reduced amount due to the borrower's economic conditions and dismissed the application as withdrawn upon issuance of the award.

What did the court decide?

Account settled at Rs. 5,51,500 with a payment schedule; case dismissed as withdrawn upon settlement.

Punjab National Bank versus M/s S.N. Enterprises and others — Banking and Recovery | DRT (2025)

¶1

Sl. No.	Date of Order or Proceedings	Order with the signature of the Court DEBTS RECOVERY TRIBUNAL, PATNA	Office action taken with date
		OA 287 of 2023
	29.04.2025	At the request of parties the matter is taken today in Special Lok- Adalat. On being pursued, inspired and encouraged for compromise, the matter has been settled between parties for which separate award has been issued. In view of the above circumstance, the abovementioned OA is dismissed as withdrawn. The co-operation of the Id. Counsels of the parties in disposal of the case is appreciated. A copy of order be uploaded over website ofDRT. (KaUShal~ Yadav) Presiding Officer

¶2

Debts Recovery Tribunal, [Lok Adulat, held al I)RT, Putna]

¶3

() JI- C,m' No... b~.i /2... 0 2. '3. .Nl\h· QrYL "~, eqll"> '\ H, f4')Qb /'(\l ..~. N

Patna

."Arll lie:1"!

...... .ncfcndants

Dated•......•.....•...•.. . borro\cr/guarantorhnortgnger is present in person. Shri At.. t. kttI«M..., being the ,I, cJ \ ~ of __ -'=C!.. 10\ ~ q '1 is present on behnlf of bank.

¶8

The above noted case has been taken lip today at the request of borrower in Lok Adalat for settlement.

¶9

As per report of the Bank, the outstanding liability of the borrower is Rs. pills interest and other charges Rs total Rs t",3l..()O!)t~

¶10

The borrower is willing to settle the account. but due to unfavorable economic conditions, cannot pay the full amount mentioned above. Borrower offers Rs. ... for settlement, whereas the bank is insisting for Rs. " as full and final compromise amount.

¶11

On being encouraged for amicable settlement. there IS a chance for settlement accept to the parties,

¶12

Accordingly. considering the period of pendency of dispute and economic condition of the borrower, J am of the considered opinion that the ends of justice will be served, if, the account is settled at Rs/S,s.t1,_s per the schedule given below to which they have agreed to put the controversy ~{;est.

¶13

The co-operation of tbc parties and efforts of Id. counsel to reach compromise are appreciated,

¶14

2 Re-paymcnt Schedule- I _L .. _,Ie) .._ 1~. :!>'] .2.S- - ~ A _ Down payment _ '- ,00 ,00 b _III( B- ~ .... "oM- ,,,'5t',oo" 1- ..4 k ~..1 ~ '5"', 'Y' ~

¶15

¶16

3 It is made clear that in case, the borrower fails to pay any installment as ordered above, the order shall net be ill operation. Also the bunk l1ta)' apply for revival 01'0.\ or may take legal action in accordance with 1<1\'fIJI' recovery of il~ uriuiunl dues with interest, costs and other legal expenses. V

¶17

Accepted hy ./J,,~ '71(t '1 i 111

¶18

Borrower Ill'. Mnuugcr

¶19

Punjab National Bank v. M/s S.N. Enterprises and others

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. M/s S.N. Enterprises and others

Case brief

What is this about?

What did the court decide?

What the court decided

A compact analysis

Issues for consideration

Parties & counsel

Coram

Case details

Similar cases

Uco Bank versus Jasmine Kapoor

Icici Bank Limited versus Sh. Arvinder

State Bank of India versus Mr.Janamjoy Prasad

Bank of India versus M/S Commercial Industries, a Partnership Firm,Partner Mr.Sujit Bhushan Tiwari and Ors.

Mr Sutapta Sikdar versus Punjab National Bank

Mr Prashanth K versus Bank of Baroda