The Debt Recovery Tribunal allowed a joint application for a consent decree. The respondents and applicant bank achieved a settlement involving a payment of Rs. 70,00,000 towards a loan account, resulting in the discharge of obligations and withdrawal of cases.
S.A. allowed; 5A dismissed as withdrawn.
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Debts Recovely Tribunal-Il, Delhi
s[l27l2O2s MILIND GUPTA Vs STANDARD CHARTERED BANK
30.10.2025
Item no.35
Present: Mr. Shashank Sharma, Counsel for applicant Ms. Akriti Gautam, Counsel for respondent bank
Matter is taken through Video Conferencing/Hybrid mode.
tA.lLo45l2025
The Ld. Counsels for both the parties submitted that they have filed Joint application for passing of consent decree along with affidavit. The applicants and respondent bank have arrived with settlement for thepayment of amount of claim in the manner as mentioned herein below. The applicants and respondent bank therefore, submit and file the Consent Terms forpassing consent Decree in accordance with the terms of Settlement as referred herein below:
MINUTES OF CONSENT TERMS
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70,00,000 (Rupees Seventy Lacs Only) ('Settlement Amount'), as full and final settlement and which upon payment of Settlement Amount by the Applicants to the Defendant Bank, the Defendant Bank agrees to discharge the Applicants against all obligations with respect to the mortgage loan.
. Since your account is overdue in our records, your credit bureau status may have been severety affected. This settlement will decrease the negatively affect, but only if the whole outstanding amount (including the waiver amount) is paid, will the Impact get fully resolved.
. Since both the parties have arrived at mutual settlement, both the pafties and bound by the settlement terms and conditions of settlement letter dated 26.02.2025. Both the parties are bound to withdraw their respective cases against each other in respect to subject loan account.
. The outstanding balance on the captioned account (e) will be updated appropriately in our records and updated as "Settled in the credit bureau records within 30 days of receiving the last schedule payment as per the settlement letter mentioned above.
File be consigned to record room.
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(susHrL K-finn RASTOGT) PRESIDING OFRCER DRT-II, Delhi
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1 issue framed by the court
Whether to allow the joint application for passing of consent decree based on the settlement agreement.
1 provisions across 1 enactments
Milind Gupta
Standard Chartered Bank
Susheel Kumar Rastogi
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
