Debts Recovery Tribunals and Appellate Tribunals
UNION BANK OF INDIA (CORPORATION BANK) vs M/s V Company on 9 January 2024
T.A. No. 1055 of 2023
09.01.2024
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 09th day of January, 2024
Present: Shri Ganapathi K.R.K.
Presiding Officer
TRANSFERRED APPLICATION No. 1055 of 2023
(Originally filed before DRT- II, Chennai as OA No.439 of 2020 and thereafter transferred to this Tribunal and renumbered as TA No.1055 of 2023)
Union Bank of India*
Erstwhile Corporation Bank
Represented by its chief manager,
No.21, Nyniappa Street,
Park Town,
Chennai – 600 000
….Applicant
Vs
1.
M/s V Company
Represented by its Proprietor Mr.Rajan Vijay Kumar No.5, Sri Ram Nagar, VGP Poon Nagar, Sembakkam, Chennai – 600 096.
Also at,
No.278, L&T Road,
4th Main Road, Burma Colony,
Perungudi, Chennai – 600 096.
2.
Mrs. Vasanthi,
No.37A, Kovilanchery Village,
Rakesh Sharma Layout,
Chennai
Also at
No.6/7, Illai Raja Housing Board,
Thiruvanmiyur,
Chennai – 600 041.
….Defendants
(*Amended as per order dated 23.07.2021)
T.A. No. 1055 of 2023
09.01.2024
Counsels on record / appeared:
Counsel for Applicant
:
M/s. K. Sarath Babu
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ORDER
1. This OA is filed by the applicant bank for recovery of a sum of Rs.20,19,703/- together with future interest and costs.
2. A memo vide SR.No.17547/2023 is filed by applicant bank submitting therein that during pendency of the above OA, defendants have approached applicant bank and paid the entire dues. Hence, the loan account of defendants was closed on 14.09.2023 as full and final settlement. Hence, applicant bank prayed that the OA claim may be treated as settled out of Court.
3. Copy of full satisfaction memo is sent to other side by post (postal receipts enclosed)
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 Stenographer (DD), transcribed by her, corrected, signed and processed through E-drt, on this the 09th day of January, 2024)
Sd/- (GANAPATHI K.R.K)
PRESIDING OFFICER