Debts Recovery Tribunals and Appellate Tribunals
STATE BANK OF INDIA vs SRI VASAM TRADERS on 2 January 2024
TA No. 1212 of 2023 02.01.2024
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 02nd day of January, 2024
Present: ShriGanapathi K.R.K.
Presiding Officer
TRANSFERRED APPLICATION No.1212 of 2023
(Originally filed before DRT-II, Chennai as OA No.364/2021 and thereafter transferred to this Tribunal and re-numbered as TA No.1212/2023)
State Bank of India
SME, Adyar Branch
Rep. by its Chief Manager
No.5, 1st Cross Street (2nd Floor)
Kasturba Nagar, Adyar
Chennai – 600 020
….Applicant
-Vs-
1.
M/s Sri Vasam Traders
Rep. by Prop. Mrs. R. Hemalatchumi
No.7, Annamalai Nagar, 3rd Street
West Mambalam, Chennai – 600 033
Now Office at
No.24/1, Rangabashyam Street
West Saidapet, Chennai – 600 015
2.
Mrs. R. Hemalatchumi
W/o Shri. V. Rengarajan
No.4, Saidai Sambandam Street
Mettupalayam, West Mambalam
Chennai – 600 033
3.
Mr. V. Rengarajan,
S/o Sh. S. Vijayagopal
No.4, Saidai Sambandam Street
Mettupalayam, West Mambalam
Chennai – 600 033
.…Defendants
Counsels on record / appeared:
Counsel for Applicant : M/s Suresh Law Associates
TA No. 1212 of 2023 02.01.2024
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ORDER
1. This OA is filed by the applicant bank for recovery of a sum of Rs.67,31,850/- together with future interest and costs.
2. A memo is filed by applicant bank stating therein that during pendency of the above OA, defendants have approached applicant bank for settlement under OTS, which was accepted by applicant bank and accordingly, defendants had remitted a sum of Rs.58 lakhs towards full and final settlement of the OA claim, as per the compromise terms. Hence, applicant bank prayed that the OA claim may be treated as settled out of Court.
3. Memo is acknowledged by defendants by affixing their signatures.
4. Perused. Memo is taken on record. Allowed. In the result, this OA is disposed of as settled out of Court, however without costs. All other interlocutory applications, if any pending shall stand closed. (Dictated to PS, transcribed by her, corrected, signed and processed through E-drt on this the 02nd day of January, 2024)
Sd/- (GANAPATHI K.R.K) PRESIDING OFFICER