Disposed

Bank of Baroda v. M/S Consolidated Construction Consortium Ltd.

DRT11 Sept 2025TA/148/2022

Case brief

AI extract

What is this about?

Applicant bank filed tax action for recovery against consortium companies. Tribunal disposed of the matter as settled outside court based on NCLT-approved resolution plan and settlement memo.

What did the court decide?

Application disposed of; applicant permitted refund of court fee to extent permissible under rules.

What the court decided

Bank of Baroda versus M/S Consolidated Construction… — Company and Corporate | DRT (2025)

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IN THE DEBTS RECOVERY TRIBUNAL –I AT CHENNAI

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Dated this 11^th Day of September, 2025

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PRESENT: SHRI A.S.JAYACHANDRA

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Presiding Officer

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T.A. No.148 of 2022

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Bank of Baroda, T.Nagar Branch, No.74, Theagaraya Road, Near Panagal Park,

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T.Nagar, Chennai – 600017. . . . Applicant

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-Versus-

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M/s. Consolidated Construction Consortium Ltd.,

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No.5, II Link Street, CIT Colony,

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Mylapore, Chennai – 600004.

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Rep. by its Managing Director Mr.S.Sivaramakrishnan.

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M/s.CCCL Infrastructures Ltd.,

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No.5, II Link Street, CIT Colony,

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Mylapore, Chennai – 600004.

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Rep. by its Managing Director Mr.R.Sarabeswar.

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M/s.CCCL Pearl City Food Port SEZ Ltd.,

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No.5, II Link Street, CIT Colony,

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Mylapore,

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Chennai – 600004.

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Rep. by its Managing Director Mr.R.Sarabeswar.

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Mr.S.Sivaramakrishnan,

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No.27-A, Railway Colony, Second Street, Nelson Manickam Road,

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Chennai – 600029.

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Mr.R.Sarabeswar,

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S/o P.Ramasamy, No.1A, Norton Main Road,

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Mandavelipakkam,

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Chennai – 600028.

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6.	State Bank of India, Stressed Assets Management Branch,
	Red Cross Building, 2^ndFloor, No.32, Montieth Road, Egmore, Chennai – 600008.
7.	ICICI Bank Ltd., No.1, Cenotaph road, Teynampet, Chennai – 600018.
8.	IDBI Bank Ltd., No.115, Anna Salai, PO Box No.805, Saidapet, Chennai – 600015.
9.	TATA Capital Financial Services Ltd., Centennial Square, 1^stFloor, No.6A, Dr.Ambedkar Salai, Kodambakkam, Chennai – 600024. Rep. by its AGM,
10.	M/s.IDBI Trusteeship Services Ltd., Asian Building Ground Floor, 17, R. Kamani Marg, Mumbai – 400001.
	Rep. by its Authorised Signatory.
Applic	ant by Shri K.S.V. Prasad, Ld.Adv.
D1 by	proxy counsel Shri Gautham , Ld.Adv.
D2 to	D5 by proxy counsel Shri Vishal, Ld.Adv.
D6 to	D10 None.

. . . Defendants

: - O R D E R - :

The present TA is filed by the Applicant bank for recovery of a sum of Rs.304,00,36,506.39/- along with interest seeking recovery against Defendants 1 to 5 jointly and severally. The same was initially filed before DRT-II, Chennai in OA No.495/2020 and the same is transferred to this Tribunal.

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During the course of trial, the Applicant Bank had submitted that the Defendant No.1 Company underwent the proceedings before the Ld. NCLT and it had approved a resolution plan. On 26.03.2024, the Ld. Counsel for the Defendants 2 to 5 submitted that the preset lis is settled by way of comprehensive settlement reached between the parties. It is also submitted that the same is approved by the Ld. NCLT, Chennai vide its order dated 05.01.2024.

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Consequently, the Applicant Bank had filed a memo dated 05.09.2025 on which this Tribunal examined the authorized representative of the Bank on Oath on 11.09.2025.

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The AR of the Bank namely Shri.Padma Kumar examined as AW1 had deposed that the settlement is reached between the Bank and the Defendant No.1. He also deposed that the reliefs are not pressed against Defendant Nos.2 to 5. After hearing the Ld. Counsel, the present TA stands disposed of by the following:-

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: - O R D E R - :

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a) The TA stands disposed of as settled outside the Tribunal in terms of the Memo and the deposition recorded.

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b) The Applicant bank is entitled for refund of the court fee to the extent permissible under the Rules.

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c) A copy of this order be communicated to all the parties concerned.

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Sd/(A.S.JAYACHANDRA) PRESIDING OFFICER DRT-I, CHENNAI

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(Dictated to Stenographer who typed in the system, corrected, signed and pronounced in open court on this 11^th Day of September, 2025)

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Bank of Baroda v. M/S Consolidated Construction Consortium Ltd.

Case brief

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Bank of Baroda v. M/S Consolidated Construction Consortium Ltd.

Case brief

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