Disposed

Jahirul Islam v. Axis Bank

DRT13 Dec 2025SA/40/2025

Case brief

AI extract

What is this about?

National Lok Adalat accepted a joint compromise petition between applicant Jahirul Islam and respondent Axis Bank Ltd., settling a debt claim of approx. Rs. 26.73 lakhs for Rs. 18 lakhs payable in three instalments, with future recovery proceedings barred upon full payment.

What did the court decide?

Compromise petition accepted; award declares settlement of Rs. 18 lakhs final; bank granted right to issue Recovery Certificate and initiate recovery upon default.

Jahirul Islam versus Axis Bank — Banking and Recovery | DRT (2025)

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BEFORE THE BENCH OF NATIONAL LOK ADALAT DEBTS RECOVERY TRIBUNAL, SILIGURI DATED-13.12.2025

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JAHIRUL ISLAM JOINT COMPROMISE PETITION in Case No. SA/40/2025

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............ Applicant

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Versus

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AXIS BANK LTD. . ......... Defendants

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. The parties to the case i.e. the Applicant and the Defendant Bank have entered into compromise as follows:-

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That at the request of the Applicant the Defendant Bank has agreed to accept Rs.

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18.00 lakhs (Rupees Eighteen Lakhs Only) in full and final satisfaction of the entire claim amount.

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The aforesaid settlement of Rs.18.00 lakhs will be paid in the following manner.

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a) Balance amount payable from the date of filing of this Joint Compromise petition as per the following tarms without interest:

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*1 st instalment of Rs. 6.00 lakhs has to be deposited by 1st week of January

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*2nd instalment of Rs. 6.00 lakhs has to be deposited by 20th February 2026.

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*3rd & last Instalment of Rs.6.00 lakhs has to be deposited by 27.03.2026. settlement, the award of the Lok Adalat shall be treated as "Recovery Certificate" and directly recovery proceeding shall be initiated by the Defendant bank for the recovery of original claim amount i.e. Rs.2672758.60, along with interest thereon at the rate of contractual rate from 02.05.2024, without referring the matter before the bench of Debts Recovery Tribunal for adjudication of the claim

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1. In case of non-payment of the instalment amount on its due date, as per the

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amount.

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Till the payment of the entire settlement amount is made there shall be charge over the hypothecated and mortgaged properties of the principal borrower, guarantor & mortgagor as well as over the other properties of the borrower and

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the borrower shall not alienate, transfer or dispose of any of their properties.

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That the Bank's claim as to the subject matter will remain unaffected and survive against the defendants who are not parties to the Compromise. However the Bank agrees that if the payment is made in terms of the compromise and no default is committed, the bank will not proceed against the defendants who are not the parties to the compromise. Accordingly the other defendants will also stand discharged from the liabilities on receipt of full settled amount and the recovery proceedings shall be closed.

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~~ ~L.._"-- • Jl,,L2.1>2.r'

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[Signature of the Applicant(s)]

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(contd/ ... on 2nd page)

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-2That the Suits/Counter Suits/Claims/ any Criminal Cases filed by the applicant (s) against the defendant bank or against its staff relating to the above accounts in this Tribunal or before any other forum(s)/ Court of Law are also stands compromised and the defendants shall not have any claim/right in the said proceedings/suits/counter claims/ Criminal Cases and the said proceedings shall be withdrawn by the defendants immediately after passing of the orders on this joint compromise petitions.

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It is requested that the Compromise be accepted and· suitable order/orders thereon be passed and/or issue Recovery Certificate accordingly. ~~~"'-'' 11,'L,1..0'l.J w1 .ts/. 13/!z/'-0' Signature of the applicant of the applicant the applicant 12, et- N,b. -p2 ~~

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Signature of the applicant of the applicant the applicant

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VERIFICATION

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l. .. /t. the authorized person of the bank and INVe ...... n,J.._,...,.,, . .......... The applicant (s) hereby verify the contents which

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are incorporated as per our agreement. }W~~~- )'3.1\1._.l,\lt' PLAINTIFF/APPLICANT

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BEFORE THE BENCH OF NATIONAL LOK ADALAT

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DEBTS RECOVERY TRIBUNAL, SILIGURI

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DATED-13.12.2025

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AWARD OF THE CASE

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Case No. SA/40/2025

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JAHIRUL ISLAM

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........... Applicant

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Versus

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AXIS BANK LTD.

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. ......... Defendants

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Claim amount of the Bank is Rs. 2672758.60.

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Final settlement amount of the case is Rs. 18,00,000/-

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Settlement amount of Rs. 18,00,000/- is to be deposited/paid in following

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manner:

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I. 1st instalment of Rs. 6.00 lakhs has to be deposited by 1st week of January 2026.

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II. 2nd instalment of Rs. 6.00 lakhs has to be deposited by 20th February 2026.

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Ill. 3rd & last Instalment of Rs.6.00 lakhs has to be deposited by

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27.03.2026.

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compromise petition is accepted. The joint compromise petition filed by the In view of the settlement arrived at in between the parties the

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parties will be the part of the award.

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(Him a s Raj Sah) Rohit Bathwal) Ld. Advocate, cum Non Recovery Officer, DRT Judicial Member of the SiJiguri cum Member of the bench of Lok Adalat bench of Lok Adalat

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(Rakes Pati Tiwari) Presiding Officer, ORT Siliguri cum Judicial Member of the bench of Lok Adalat

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Jahirul Islam v. Axis Bank

Case brief

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What did the court decide?

Jahirul Islam v. Axis Bank

Case brief

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What did the court decide?

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