Debts Recovery Tribunals and Appellate Tribunals
CITY UNION BANK LIMITED vs M/S JANATA TIMBER AND SAW MILL on 3 January 2024
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 03rd day of January, 2024
Present: Shri Ganapathi K.R.K.
Presiding Officer
TRANSFERRED APPLICATION No.942 of 2023
(Originally filed before DRT- II, Chennai as OA No.161 of 2020 and thereafter transferred to this Tribunal and renumbered as TA No. 942 of 2023)
City Union Bank Limited
Rengarajapuram Branch
29/1, Vishwanathapuram Main Road
Rengarajapuram
Chennai – 600 024
…. Applicant
Vs
1.
M/s Janata Timber & Saw Mill
Rep. by its Proprietor
Mrs.Sajitha Rahim
Old No.129, New No.144
Lake View Road, West Mambalam
Chennai – 600 033
2.
M/s Everbest Lumber Pvt. Ltd
Old No.129, New No.144
Lake View Road, West Mambalam
Chennai – 600 033
3.
Mr.K.P.Abdul Rahim
S/o Usman Kutty
No.7, Dr.Radhakrishnan Nagar
2nd Cross Street
Thiruvanmiyur
Chennai – 600 041
4.
Mrs.Sajitha Rahim
W/o Mr.K.P.Abdul Rahim
No.7, Dr.Radhakrishnan Nagar
2nd Cross Street
Thiruvanmiyur
Chennai – 600 041
5.
Mr.O.Mohamed Rahil
S/o Mr.K.P.Abdul Rahim
No.7, Dr.Radhakrishnan Nagar
2nd Cross Street
Thiruvanmiyur
Chennai – 600 041
6.
Mr.O.Mohamed Suhail
S/o Mr.K.P.Abdul Rahim
No.7, Dr.Radhakrishnan Nagar
2nd Cross Street
Thiruvanmiyur
Chennai – 600 041
.... Defendants
Counsels on record / appeared:
Counsel for Applicant : M/s. S.Sethuraman
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ORDER
1. This OA is filed by the applicant bank for recovery of a sum of Rs.13,19,08,430/- together with future interest and costs.
2. A memo vide SR.No.12928/2023 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 have remitted a sum of Rs.7,85,00,000/- towards full and final settlement of the OA claim. Hence, applicant bank prayed that the OA claim may be treated as settled out of Court and also prayed for refund of court fee.
3. Copy of memo is sent to defendants by post (postal receipts enclosed)
4. Heard. 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.
5. Applicant bank to file appropriate memo for refund of court fee as per extant guidelines.
6. With the above observations, TA stands disposed. (Dictated to Steno (DD), transcribed by her, corrected, signed and processed by me through e-drt on this the 03rd day of January, 2024) Sd/-
(GANAPATHI K.R.K)
PRESIDING OFFICER