Debts Recovery Tribunals and Appellate Tribunals
BANK OF BARODA vs M/S Consolidated Construction Consortium Ltd on 11 September 2025
IN THE DEBTS RECOVERY TRIBUNAL –I AT CHENNAI
Dated this 11th Day of September, 2025
PRESENT: SHRI A.S.JAYACHANDRA
Presiding Officer
T.A. No.148 of 2022
Bank of Baroda,
T.Nagar Branch,
No.74, Theagaraya Road,
Near Panagal Park,
T.Nagar, Chennai – 600017.
. . . Applicant
-Versus-
1.
M/s. Consolidated Construction Consortium Ltd., No.5, II Link Street, CIT Colony, Mylapore, Chennai – 600004.
Rep. by its Managing Director Mr.S.Sivaramakrishnan.
2.
M/s.CCCL Infrastructures Ltd.,
No.5, II Link Street, CIT Colony,
Mylapore, Chennai – 600004.
Rep. by its Managing Director Mr.R.Sarabeswar.
3.
M/s.CCCL Pearl City Food Port SEZ Ltd.,
No.5, II Link Street, CIT Colony,
Mylapore,
Chennai – 600004.
Rep. by its Managing Director Mr.R.Sarabeswar.
4.
Mr.S.Sivaramakrishnan,
No.27-A, Railway Colony, Second Street,
Nelson Manickam Road,
Chennai – 600029.
5.
Mr.R.Sarabeswar,
S/o P.Ramasamy,
No.1A, Norton Main Road,
Mandavelipakkam,
Chennai – 600028.
6.
State Bank of India,
Stressed Assets Management Branch,
Red Cross Building,
2nd Floor, No.32, Montieth Road,
Egmore,
Chennai – 600008.
7.
ICICI Bank Ltd.,
No.1, Cenotaph road,
Teynampet,
Chennai – 600018.
8.
IDBI Bank Ltd.,
No.115, Anna Salai, PO Box No.805,
Saidapet,
Chennai – 600015.
9.
TATA Capital Financial Services Ltd.,
Centennial Square, 1st Floor,
No.6A, Dr.Ambedkar Salai,
Kodambakkam,
Chennai – 600024.
Rep. by its AGM,
10.
M/s.IDBI Trusteeship Services Ltd.,
Asian Building Ground Floor,
17, R. Kamani Marg,
Mumbai – 400001.
Rep. by its Authorised Signatory.
. . . Defendants
Applicant by Shri K.S.V. Prasad, Ld.Adv.
D1 by proxy counsel Shri Gautham , Ld.Adv.
D2 to D5 by proxy counsel Shri Vishal, Ld.Adv.
D6 to D10 None.
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: - O R D E R - :
1. The present TA is filed by the Applicant bank for recovery of a sum of Rs.304,00,36,506.39/- along with interest seeking recovery against Defendants 1 to 5 jointly and severally. The same was initially filed before DRT-II, Chennai in OA No.495/2020 and the same is transferred to this Tribunal.
2. During the course of trial, the Applicant Bank had submitted that the Defendant No.1 Company underwent the proceedings before the Ld. NCLT and it had approved a resolution plan. On 26.03.2024, the Ld. Counsel for the Defendants 2 to 5 submitted that the preset lis is settled by way of comprehensive settlement reached between the parties. It is also submitted that the same is approved by the Ld. NCLT, Chennai vide its order dated 05.01.2024.
3. Consequently, the Applicant Bank had filed a memo dated 05.09.2025 on which this Tribunal examined the authorized representative of the Bank on Oath on 11.09.2025.
4. The AR of the Bank namely Shri.Padma Kumar examined as AW1 had deposed that the settlement is reached between the Bank and the Defendant No.1. He also deposed that the reliefs are not pressed against Defendant Nos.2 to 5. After hearing the Ld. Counsel, the present TA stands disposed of by the following:-
: - O R D E R - :
a) The TA stands disposed of as settled outside the Tribunal in terms of the Memo and the deposition recorded.
b) The Applicant bank is entitled for refund of the court fee to the extent permissible under the Rules.
c) A copy of this order be communicated to all the parties concerned.
Sd/-
(A.S.JAYACHANDRA)
PRESIDING OFFICER
DRT-I, CHENNAI
(Dictated to Stenographer who typed in the system, corrected, signed and pronounced in open court on this 11th Day of September, 2025)