Debts Recovery Tribunals and Appellate Tribunals
BANK OF INDIA vs M/S AALAYA JEWL INDUSTRY PRVATE LIMITED on 29 January 2024
T.A. No. 703 of 2023
29.01.2024
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 29th day of January, 2024
Present: Shri Ganapathi K.R.K.
Presiding Officer
TRANSFERRED APPLICATION No. 703 of 2023
(Originally filed before DRT- II, Chennai as OA No.360 of 2021 and thereafter transferred to this Tribunal and renumbered as TA No.703 of 2023)
M/s.Bank of India,
Chennai Bullion Banking Branch,T.Nagar
Chennai-600 017.
….Applicant
Vs
M/s. Aalaya Jewel Industry Private Limited, No.80/1, First Floor, Govindaswamy Layout, Balaji Avenue, Coimbatore-641 001.
….Defendant
Counsels on record / appeared:
Counsel for Applicant
:
M/s. R.Umasuthan & K.Bhaskar
Counsel For Defendant
:
M/s.K.Suresh
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ORDER
1. This TA is filed by the applicant bank for recovery of a sum of Rs.2,27,70,746.50p together with future interest and costs.
2. Ld. Counsels for both parties submitted that matter is settled under compromise between parties for a sum of Rs.34.50 lakhs and hence prayed for disposal of OA as settled out of Court. Copy of ‘No due certificate’ dated 06.11.2023 issued by applicant bank is enclosed along with memo filed on behalf of defendants and prayed for passing necessary orders.
T.A. No. 703 of 2023
29.01.2024
3. 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 (Dictated to PS, transcribed by her, corrected, signed and pronounced by me in Open Court, on this the 29th day of January, 2024)
Sd/- (GANAPATHI K.R.K)
PRESIDING OFFICER