The Debts Recovery Tribunal's Lok Adalat upheld an amicable settlement between IDFC FIRST BANK LIMITED and Magnum Impex and Consultants, disposing of the original amount claim to a reduced lump sum of Rs. 2,10,000.00 in terms of the court's award.
The claim was settled and disposed of by the parties agreeing to a payment of Rs. 2,10,000.00.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
BEFORE THE LOK ADALAT AT DEBTS RECOVERY TRIBUNAL-1, KOLKATA. JEEVANSUDHA BUILDING, 42C,JAWAHARLAL NEHRU ROAD KOLKATA-700 071
Dated 8th March , 2025
Plaintiff:
IDFC FIRST BANK LIMITED Represented by – Mr. Abhishek Mohanty, Dy. Legal Manager. Mr. Yash Mahima, Adv., Mr. Amar Singh, Adv.
Defendant/Respondent Magnum Impex and Consultants Represented by – None
Case No. OA/59/2024 Present:
A W A R D
The dispute between the parties has been referred for determination in the Lok Adalat and the parties having compromised/settled the case/matter, the following award is passed in terms of the settlement:-
The case is taken up for hearing.
The claim of the petitioner Bank recoverable from the Defendant amounts to Rs. 22,96,964.75/- + further interest.
The parties have amicably settled dispute at Rs.2,10,000.00/-.
In view of the compromise arrived at between the parties, the OA is disposed of in terms of the settlement.
Ld. Registrar is directed to refund of Court Fee to the Applicant Bank in terms of the Rules.
(DEBJANI SAHU) (SUBHANKAR BHATTACHARYA) LD. ADVOCATE DISTRICT JUDGE (RETD.) MEMBER OF THE BENCH MEMBER OF THE BENCH OF LOK ADALAT OF LOK ADALAT
IDFC FIRST BANK LIMITED
Magnum Impex and Consultants
Subhankar Bhattacharya
Debjani Sahu
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
