Disposed
Indian Overseas Bank v. Mrs Nitu Kumari Singh Proprietress of Ms Om Sales Agency
DRTOA/75/2024
Case brief
AI extract
What is this about?
The Lok Adalat at Debts Recovery Tribunal-1, Kolkata settled a dispute regarding a bank claim of approximately Rs. 31 lakh. The parties agreed to a settlement sum of Rs. 8.5 lakh, with an initial cash payment followed by two installment payments scheduled for future dates.
What did the court decide?
Bank to be paid Rs. 8,50,000 via Rs. 1,00,000 immediately and two future installments.