Disposed

Punjab National Bank v. M/S Swasti Box Industries and Ors.

DRT22 Jan 2025OA/326/2023

Case brief

AI extract

What is this about?

The DRT disposed of an IA in a regularization proceedings. The Applicant Bank settled the O.A. after selling secured assets and issuing a No Dues Certificate, prompting withdrawal of the IA and the main petition.

What did the court decide?

IA No. 164 of 2025 disposed as withdrawn; IA No. 163 of 2025 and O.A. No. 326 of 2023 disposed as withdrawn; Plaintiff directed to return original Title Deed within 15 days.

Punjab National Bank versus M/S Swasti Box… — Contract and Commercial Disputes | DRT (2025)

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Debts Recovery Tribunal-3, Kolkata Order Sheet (Contanuation)

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caseNo,OAl3	26/2023 PuniabNationalSank Vs. s.SwastiBoxIndustries&Ors,
DateofOrder	orderwithsignatur€
OrderNo.04 pt.22.01.2025 S l.No.30 s5	Present: ForApplicant:Ld. CounselTumpaRoy& PritishNandy ForDefendant:None lA/164/25istakenupforhearing. HeardLd.counsel appearing for ApplicantBank. Considered. Noneappearsfrom thesideoftheDefendant. LdCounselfor theApplicantfiledI.A.No.164of2025 in viewof thefactthat theO.A whichu/asfiledseeking recovery of Rs.27,55,7a91-is settled and has^prayedforwithdrawalofthe present O.A. The applicationissupportedbyaffidavitoflYr. DurjoyRabha,ChiefManager oftheapplicantBank. Ld.LawyerfortheApplicant Bank submitsthattheapplicant soldthesecuredassetof thedefendantthrough the^proceedings andissued sale certificateon29/OA/2O23.The ApplicantBank adjustedthesale^proceedsto theloan account andclosed the loan account andissued'NoDuesCertificate'andmade^prayer todisposeof the matterfornon^prosecutaon.There is no other impedimentif^prayerisso allowed. Accordingly,I.A.No.164of 2025isdisposedofas withdrawn andsettled.I.A.No.163of 2025 beingthe putup^petitionis also disposedof. TheApplicant is directedtoreturntheoriginal TitleDeedtothe O.A.defendants,ifitis notalready done,within15 daysfrom thedateofthis order,as^perrules. O.A. No. 326of2023 alongwithall^pendingI.A.s,ifany,^is disposed aswithdrawnbeingsettled. File beconsignedtoRecord Roomafterobservingallformalitaes.
	(KamalDe) PresidingOfficer DRT-3, Kolkata

Punjab National Bank v. M/S Swasti Box Industries and Ors.

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. M/S Swasti Box Industries and Ors.

Case brief

What is this about?

What did the court decide?

What the court decided

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