In a securitization application regarding bank dues recovery, the debt recovery tribunal recorded an out-of-court settlement where the applicant paid the full amount, leading to the dismissal of the application.
Securitization application 6/2024 dismissed as settled out of court due to full payment of dues.
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 DEBTS RECOVERY TRIBUNAL II - HYDERABAD
AWARD
DATED: t4.06.2025
IN
SECURITIZATION APPLICATION NO : 6/2024
Present: -
Reference made by
Applicant through: Sri D. Raghavulu, Advocate. Respondent through: Sri Gampa Rangaiah, Advocate.
Between :-
M/s. Mimex Purverizing Mill. Applicant. And Indian Overseas Bank. Respondent.
sA. 6/2024
amount of Rs.1,00,00,000/- in full and final settlement and the account has been closed on 06.05.2025. As such, nothing remains for adjudication and accordingly prayed for withdrawal of the case. Learned counsel appearing for the applicant endorsed his no-objection for the same.
(Given under the hand and seal of the Lok Adalat Bench on this the 14th day of June, 2025)
oN, Gampa9-'r' Rangaiah Adv, ru.N.k orn,nu Member Member
Ku'r,, meshwar Kothe Presiding Officer
M/s. Mimex Purverizing Mill
Indian Overseas Bank
Rameshwar Kothe
Gampa Rangaiah
N.M. Shiny Mounika
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
