Disposed

Punjab National Bank v. Ugrasen

DRT16 May 2026OA/1366/2025

Case brief

AI extract

What is this about?

A Lok Adalat organized by the Debts Recovery Tribunal arose from a banking dispute where the bank claimed Rs. 28.97 lakh and the borrower offered Rs. 17.95 lakh as full and final settlement. The Special Lok Adalat recorded the voluntary agreement to accept the reduced sum and disposed of the proceedings accordingly.

What did the court decide?

Settlement recorded for Rs. 17,95,000/- as full and final settlement; balance court fees to be refunded.

Punjab National Bank versus Ugrasen — Contract and Commercial Disputes | DRT (2026)

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BEFORE THE SPECIAL LOK ADALAT ORGANISED ON 8^TH MAY, 2026 BY THE DEBTS RECOVERY TRIBUNAL, JAIPUR

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O.A. No. 1366/2025

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Applicant(s) :

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PUNJAB NATIONAL BANK

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(hereinafter referred to as bank/financial institution)

VERSUS

UGRASEN

Defendant(s) :

(hereinafter referred to as borrower/guarantor(s))

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Details of dispute/claim/settlement:

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The claim of the bank is to the tune of Rs. 28,96,709.02/- with interest & cost.

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The Defendants requested the Bank to settle the account and offered to pay Rs. 17,95,000/-

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The bank and the borrower have agreed voluntarily with full consent to receive that amount by the bank and to give that amount by the borrower. The applicant bank states that they have agreed to receive an amount of Rs. 17,95,000/- as full and final settlement out of which Rs. 3,60,000/- of the settlement amount will be paid by 11.05.2026 and balance amount Rs. 14.35 Lac will be paid within 90 days from today i.e. 08.05.2026. It is stated that after above payment borrower does not owe any further amount to the bank in respect of the above accounts.

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The request for return of original documents as per rules, permitted. Since the matter is before the Lok-Adalat complete court fees be refunded to the applicant bank.

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The above settlement is agreed upon before the Panel.

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Applicant(s)

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Defendant(s)

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Advocate for the Applicant(s)/ Advocate for the Defendant(s)/ Authorized Representative Authorized Representative

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Chairman Member Member

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Date : 8^th May, 2026 Place : Jaipur

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ORDER/AWARD

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In view of the above settlement and payment in the present matter before Lok-Adalat, the award is passed in above terms. If the payment is not made, then the bank will be entitled to receive actual OA amount along with contractual rate of interest. The interim relief, if any, stands vacated. The Original Application no. 1366/2025 stands disposed of accordingly. Refund of complete Court fees is ordered to be paid to the Bank after acknowledgement of the same.

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Date: 8^th May, 2026

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(Vimal Gupta) Presiding Officer& Chairman of the Lok Adalat, Debts Recovery Tribunal, Jaipur

Punjab National Bank v. Ugrasen

Case brief

What is this about?

What did the court decide?

Punjab National Bank v. Ugrasen

Case brief

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What did the court decide?

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