INDIAN BANK vs M/s S. Antool & Co. Pvt Ltd & Ors on 17 November 2021

11/18/21, 1:52 PM~ (2068x3036)

**ORDER SHEET** **KOLKATA DEBTS RECOVERY TRIBUNAL NO.2** **I.A./491 of 2021, I.A./442 of 2021 & I.A./443 of 2021** in **Case No. T.A./ 307 of 2020** (arising out of O.A./741 of 2018)

<table style="width: 100%; border: none;"> <tr> <td style="text-align: center;">Indian Bank<br/>(Erstwhile Allahabad Bank)</td> <td style="text-align: right;">Applicant Bank</td> </tr> <tr> <td style="text-align: center;">Vs.</td> <td></td> </tr> <tr> <td style="text-align: center;">M/s S. Antool &amp; Co. Pvt. Ltd. &amp; ors.</td> <td style="text-align: right;">Defendants</td> </tr> </table>

<table border="1" style="width: 100%; border-collapse: collapse;"> <thead> <tr> <th style="width: 15%; text-align: center;">Date<br/>Of<br/>Order</th> <th style="width: 60%; text-align: center;">Order with<br/>Signature</th> <th style="width: 25%; text-align: center;">Office action<br/>with date and<br/>dated signature<br/>of parties when<br/>necessary</th> </tr> </thead> <tbody> <tr> <td style="height: 40px;"></td> <td></td> <td></td> </tr> </tbody> </table>

Order No 11

17.11.2021

Present ::

Mr. Prithish Nandy, Ld. Counsel appears for the Applicant Bank.

None appears for the Defendants.

Applicant (Indian Bank), erstwhile Allahabad Bank has instituted the Original Application being O.A. No.741 of 2018 on 07.09.2018 on the file of DRT-3, Kolkata against four Defendants under Section 19 of the Recovery of Debts & Bankruptcy Act, 1993 (amended from time to time) for recovery of Rs.84,05,785/- (Rupees eighty four lacs five thousand seven hundred eighty five) together with further interest at the prescribed rate, till realization and costs of the O.A.; subsequently, the instant case has been transferred to DRT-2, Kolkata vide the Hon'ble Chairperson DRAT, Kolkata's direction vide letter No. 4/6/DRAT/KOL/2018(pt.) dated 16.09.2019, such has been recorded in Ld. Registrar, Kolkata DRT-3's Order dated 30.10.2019 and the same has been renumbered as T.A./ 307 of 2020 vide Ld. Registrar's order dated 11.06.2020.

In accordance with the Notice dated 30.07.2020 of this Tribunal, Ld. Counsel for Indian Bank has filed a petition being I.A. No.491 / 2021 dated 09.04.2021 praying for amendment of Cause Title in view of amalgamation / merger of Allahabad Bank with Indian Bank vide G.O.I. Notification dated 04.03.2020; and in accordance with the direction of the Tribunal necessary amendment in cause title has been carried out by Ld. Counsel for Applicant Bank on 16.04.2021, such has been recorded vide Ld. Registrar's order dated 16.04.2021. Since the amendment in cause title has been carried out; hence, the I.A./ 491 of 2021 dated 09.04.2021 is hereby disposed of accordingly.

An I.A. being I.A./442 of 2021 dated 31.03.2021 has been filed by Applicant Bank for putting up the case records for hearing. Another petition being I.A./443 of 2021 dated 31.03.2021 has been filed by Applicant Bank, *inter-alia*, praying for withdrawal of the T.A./307 of 2020, arising out of O.A./741 of 2018 on the ground of settlement, and also praying for refund of the application fees.

Contd.....P/2

51 PM~ (2164x3160)

T.A./307 of 2020 17.11.2021

During pendency of the T.A. / O.A. the matter has been amicably settled (out of court) through One Time Settlement Scheme (OTS) between the Applicant Bank and defendants for a sum of Rs.26,00,000/- (Rupees twenty six lacs), and the Defendants / borrower(s) have paid the entire settled amount of Rs.26.00 lacs towards full and final payment of Applicant Bank's dues. Along with the I.A/443 of 2021, a 'No Dues Certificate' dated 01.02.2021 issued by Chief Manager of Applicant Bank's 140, Cotton Street Branch, Burra Bazar, Kolkata - 700007, confirming the full & final settlement against payment of Rs.26.00 lacs, also enclosing a statement of Account showing 'Nil' balance in the Account, have been annexed.

The withdrawal Application (I.A./443 of 2021) is supported by an affidavit dated 11.03.2021 affirmed by Sri Tarun Kumar, Branch Manager of Applicant Bank's Burrabazar Branch, 140 Cotton Street, Kolkata - 700007, confirming the contents of the I.A.

Since the entire settlement amount has been paid by the Defendants / borrower(s) that has been received by the Bank, Applicant Bank does not want to proceed further in this matter and prays for withdrawal of the instant T.A. / O.A., as settled. Such prayer of Ld. Counsel for Applicant Bank is allowed.

So far as O.A. Application fees is concerned, the same is allowed. Applicant Bank is directed to approach before the Ld. Registrar / Registrar-in-charge of the Tribunal for refund of Application Fee. Ld. Registrar / Registrar-in-Charge is directed to take necessary steps regarding the refund of Application Fees, as per law.

In view of the above, the present original Application being T.A./307 of 2020 (arising out of O.A./741 of 2018 - DRT-3) is ordered to be withdrawn / closed, as settled.

The petition (I.A./443 of 2021) dated 31.03.2021 & T.A./307 of 2020 (arising out of O.A./741 of 2018) both stand disposed of.

The I.A./442 of 2021 being the put application is disposed of accordingly.

File be consigned to record room.

This order is passed by virtual hearing through video conference in the presence of Ld. Advocate for the Applicant Bank, Mr. Pritish Nandy. None appeared for the Defendants.

Order be uploaded in the Tribunal's Website.

Sd/-

(M.S. Rao) Presiding Officer DRT-2, Kolkata

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