Deputed recovery tribunal dismissed the special application as withdrawn upon entry into an out-of-court settlement with the respondent bank, noting disposition of title deeds upon payment.
Special application dismissed as withdrawn; possession and title deeds to be returned upon payment of OTS amount.
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DEBTS RECOVERY TRIBUNAL-I, CHANDIGARH
SA/308/2024
NIPUN JAIN SO SURINDER PAL JAIN Vs STATE BANK OF INDIA
22.04.2026
Item No.21
Present: Mr. C.S. Pasricha and Mr. K.D. Sharma, Counsel for the Applicant.
Mr. Devender Rattan, Ms. Devika Raj and Ms. Nisha Ola, Counsel for respondent bank
Parties have entered into an OTS on 17.04.2026. As per the OTS, the applicant has undertaken to withdraw the SA. Accordingly, the SA is hereby dismissed as withdrawn . However, it is made clear that, on the payment of the OTS amount, the respondent bank would restore the possession and return the title deeds to the applicant, as per the terms and conditions of the OTS.
File be consigned to record room after due compliance.
(A S Narang) Presiding Officer DRT-I, Chandigarh
PANKAJ
Nipun Jain
Surinder Pal Jain
State Bank of India
A S Narang
As recorded by the court registry
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