Debts Recovery Tribunals and Appellate Tribunals
STATE BANK OF INDIA vs M/S INCENSE WORLD on 26 February 2024
T.A. No. 746 of 2023
26.02.2024
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 26th day of February, 2024
Present: Shri Ganapathi K.R.K.
Presiding Officer
TRANSFERRED APPLICATION No. 746 of 2023
(Originally filed before DRT- II, Chennai as OA 329/2021 and thereafter transferred to this Tribunal and renumbered as TA No 746 of 2023)
M/s. State Bank of India,
Walajapet Branch,
Chennai- 600 040.
Migrated to:
Assets Recovery Management Branch,
No.44, Eldams Road,
Teynampet.
….Applicant
-Vs-
1.
M/s. Incense World,
Rep by its Proprietors
No.20, Arcot Thethu Street,
Walajapet - 632 513.
2.
Mr. H. Dawood Khan
No.413, Arcot Thethu Street,
C- Block, Walajapet- 632 513.
3.
H. Usman Khan
No.413, Arcot Thethu Street,
C- Block, Walajapet- 632 513.
4.
M/s. Incense International,
Rep by its Prop. H. Dawood Khan and Mrs. Meher Khatoon No.413, Arcot Thethu Street, C- Block, Walajapet- 632 513.
…..Defendants
Counsels on record / appeared:
Counsel for Applicant
:
M/s. P. H. Vinodh Pandian
T.A. No. 746 of 2023
26.02.2024
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ORDER
1. This TA is filed by the applicant bank for recovery of a sum of Rs.18,49,29,007.19p together with future interest and costs.
2. A full satisfaction memo is filed applicant bank stating therein that during pendency of the above OA, defendants had approached applicant bank for settlement under OTS, which was accepted by applicant and accordingly, defendants had remitted a sum of Rs.1,42,48,146.58p on 25.03.2022 towards full and final settlement Hence, applicant bank prayed that the OA claim may be treated as settled out of Court.
3. 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 pronounced by me in Open Court, on this the 26th day of February,2024)
Sd/- (GANAPATHI K.R.K) PRESIDING OFFICER