Settlement reached between applicant and respondent bank via one-time settlement. Applicant satisfied part of the sum and agreed to pay balance by 10.06.2025. Court dismissed pending recovery suit as condition of settlement.
Matter disposed of upon settlement; applicant's application/recovery suit withdrawn.
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DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
SA/52/2024 M/S HR POWER PROJECTS PVT LTD Vs CANARA BANK
08.04.2025 Item No.35
Present: Ms. Jasleen Kaur, Counsel for the Applicant. Mr. Rakesh Gupta, Counsel for respondent bank.
Counsel for the parties state that there has been OTS between the parties for a sum of Rs.13.05 Crores, out of which applicant has paid Rs.5.00 Crore and the rest of the amount would be paid by 10.06.2025. Whereas, counsel for the applicant requests for adjournment; counsel for the bank states that since the matter has been settled, the question of adjournment does not arise. Even as per the OTS proposal which has been sanctioned by the bank, this is one of the conditions that applicant would withdraw any SA which is pending. Since, there is settlement between the parties, SA stands disposed of.
File be consigned to record room after due compliance.
(A S Narang) Presiding Officer DRT-I, Chandigarh
PANKAJ
M/s HR Power Projects Pvt Ltd
Canara Bank
A S Narang
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
