Dismissed

Bank of Maharashtra v. Ms Ssv Industries

DRT21 Dec 2025OA/559/2024

Case brief

AI extract

What is this about?

The Debts Recovery Tribunal-Lok Adalat II Hyderabad disposed of Original Application No. 559/2024 filed by Bank of Maharashtra against S.S.V. Industries. The case was settled out of court via a Joint Memo of Compromise to settle the outstanding loan account, resulting in the dismissal of the application and refund of court fees.

What did the court decide?

The application was dismissed as settled out of court; court fee refunded.

Bank of Maharashtra versus Ms Ssv Industries — Banking and Recovery | DRT (2025)

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BEFORE THE LOK ADALAT DEBTS RECOVERY TRIBUNAL II - HYDERABAD

AWARD

DATED: 21.12.2025

ORIGINAL APPLICATION NO: 559/2024

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Present:-

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Sri Rameshwar Kothe, Presiding Officer.

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Sri S. Ramesh, Member.

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Sri K. Kranthi Kumar, Member.

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Applicant through: T.S.S. Krishna & Sangepu Ramesh Advocates.

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Respondent through:

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Between:-

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Bank of I\4aharashtra

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......... Appllcant.

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And

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lY/s. S.S.V. lndustries & Others

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........ Respondents.

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Whereas the applicants filed the instant OA in this Tribunal assailing the action taken by the Respondent for recovery of its dues.

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Whereas during the^pendency of the case before this Tribunal, learned counsel appearing for the applicant filed a Joint Memo of Compromise arrived at between the^parties in respect of the settlement of subject ioan account for a sum of Rs.74t14,053/to be^payable as^per the terms of the compromise.

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sA.559/2024

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In the event of default in^{compliance of the terms of the} compromise, the same^{shall stand automaticallycancelled,all} concessions allowed^{under it stand withdrawn and the applicant} would be at liberty to^{recover total outstanding dues as perOA} after giving deductions^{in payments received already besides} executing recovery^{proceedingsin OA and the action under} SARFAESI Act shall^{ipso-facto commencesfrom the stage it has} been referred.

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Now in terms of reference^{made by the Counsel for the parties} before this Lok^{Adalaton this the 21st day of December, 2025,} the^present OA is disposed^{of as settledout of court. In view of} the statement made^{beforethis Lok Adalat, the OA.No.559/} 2024 is dismissed as settled^out of^{court, Court fee be} refunded as^per rules.

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Copy of this order be^{provided to the concerned partiesor their} representatives.

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(Given under the hand and seal of the^{Lok AdalatBench on this} the 21st day of December,²⁰²⁵⁾

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<?^^/,-fror,'' z---"-' S. Ramesh K. Kldathi Kumar Member Member

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6--< Rameshwar Kothe Presiding Officer

Bank of Maharashtra v. Ms Ssv Industries

Case brief

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Bank of Maharashtra v. Ms Ssv Industries

Case brief

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