UNION BANK OF INDIA vs MS BANGER JI TAXTILE on 3 July 2025

Court of the Presiding Officer Debts Recovery Tribunal, Jaipur * Item No. 2 Case No.MA/92/2025 IN OA/710/2018 UNION BANK OF INDIA Vs MS BANGER JI TAXTILE Date: 03.07.2025. Proceedings through hybrid mode Present: Shri Kirti Kapoor, Counsel for the Applicant This Misc. application has been moved and counsel for the applicant submits that the Tribunal has decided the Original Application No. 710 of 2018 and ordered to issue Recovery Certificate bearing No. 437/2020 of Rs. 1,33,23,103.26 plus interest, cost and expenses on dated 17.12.2019 against the defendant. During pendency of the execution proceedings the Certificate Debtors approached to the Certificate Holder bank and requested for amicable compromise settlement. The defendants have paid the entire amount of debt as per the terms of settlement and the bank has closed the loan account of the defendant. The entire settlement amount has been deposited by the defendant, nothing remains to be recovered from the defendant and the No- Dues Certificate dated 17.06.2025 has been issued to the defendant by the applicant bank. He further submits that there was an attachment order dated 11.01.2019 and the same should also be vacated. In view of the above, this Misc. Application stands allowed and order of attachment dated 11.01.2019 stands vacated. Ld. Recovery Officer is directed to close the recovery proceedings of Recovery Certificate No.437/2020. In view of the above submissions, this Misc. Application and Recovery Certificate stand disposed off. File be consigned to record, as per rules. Copy of order be uploaded on website. Copy of the order be send to the concerned Ld. Recovery Officer.

(Vimal Gupta) Presiding Officer Debts Recovery Tribunal, Jaipur