ICICI BANK LIMITED vs M/S UT LIMITED & ANR on 17 December 2021

ORDER SHEET

KOLKATA DEBTS RECOVERY TRIBUNAL NO.2

I.A./1392 of 2021 & I.A./1393 of 2021

in

Case No. T.A./ 480 of 2020

(arising out of O.A./970 of 2018)

ICICI Bank Ltd.

Vs.

M/s UT Limited & Anr.

Applicant Bank

Defendants

<table border="1"><thead><tr><th data-bbox="158 195 238 280">Date<br/>Of<br/>Order</th><th data-bbox="238 195 780 280">Order with<br/>Signature</th><th data-bbox="780 195 918 280">Office action<br/>with date and<br/>dated signature<br/>of parties when<br/>necessary</th></tr></thead></table>

Order No.10

17.12.2021

Present ::

Ms. Kasturi Dasgupta, Ld. Advocate on behalf of Mr. Avishek Guha, Ld. Counsel appears for the Applicant Bank.

None appears for the Defendants.

Applicant, ICICI Bank Ltd. has instituted the Original Application being O.A. No.970 of 2018 on 30.11.2018 on the file of DRT-3, Kolkata against two Defendants under Section 19 of the Recovery of Debts & Bankruptcy Act, 1993 (amended from time to time) for recovery of Rs.38,02,829/- (Rupees thirty lacs two thousand eight hundred twenty nine) together with further interest, 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 13.11.2019 and the same has been renumbered as T.A./ 480 of 2020 vide Ld. Registrar's order dated 07.07.2020.

An I.A. being I.A./1392 of 2021 dated 09.12.2021 has been filed by Applicant Bank for putting up the case records for hearing.. Another petition being I.A./1393 of 2021 dated 09.12.2021 has been filed by Applicant Bank, *inter-alia*, praying for withdrawal of the T.A. No.480 of 2020, arising out of O.A./970 of 2018 on the ground of settlement.

In the said petition (I.A./1393 of 2021) Applicant Bank has stated that during pendency of the T.A. / O.A. the matter has been amicably settled (out of court) under compromise between the Applicant Bank and defendants for a sum of **Rs.24,50,000/-** (Rupees twenty four lacs fifty thousand), and the Defendants have paid the entire settled amount of Rs.24.50 lacs towards full and final payment of Applicant Bank's dues; and the Applicant Bank does not have any further claim against the Defendants. Along with the I.A/1393 of 2021, a 'No Dues Certificate' dated 30.10.2021 issued by Authorized Signatory of Applicant Bank's 3A, Gurusaday Road Branch, Kolkata - 700019, confirming the full & final settlement against payment of Rs.24.50 lacs, and also enclosing a statement of Account showing 'Nil' balance in the Account, have been annexed.

Contd.....P/2

- 2 -

**T.A./480 of 2020**

17.12.2021

The withdrawal Application (I.A./1393 of 2021) is supported by an affidavit dated 09.12.2021 affirmed by Sri Amit Ghosh, Authorized Signatory of Applicant Bank's 3A, Gurusaday Road Branch, P.S.- Karaya, Kolkata – 700019, confirming the contents of the I.A.

Since the entire settlement amount has already been paid by the Defendants / borrower(s) to 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.

In view of the above, the present original Application being T.A./480 of 2020 (arising out of O.A./970 of 2018 – DRT-3) is ordered to be withdrawn / closed, as settled.

The petition (I.A./1393 of 2021) dated 09.12.2021 & T.A./480 of 2020 (arising out of O.A./970 of 2018) both stand disposed of.

The I.A./1392 of 2021 being the put application is disposed of accordingly.

Earlier the next date fixed on 19.01.2022 stands cancelled.

File be consigned to record room.

This order is passed by virtual hearing through video conference in the presence of Ld. Counsel for the Applicant Bank, Ms. Kasturi Dasgupta. None appeared for the Defendants.

Order be uploaded in the Tribunal's Website.

Sd/-

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