Debts Recovery Tribunals and Appellate Tribunals
INDIAN BANK vs M/S Sujatha Biotech on 8 March 2024
T.A. No. 135 of 2023
08.03.2024
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 08th day of March, 2024
Present: Shri Ganapathi K.R.K.
Presiding Officer
TRANSFERRED APPLICATION No. 135 of 2023
(Originally filed before DRT- II, Chennai as OA 611/2019 and thereafter transferred to this Tribunal and renumbered as TA No 135 of 2023)
M/s. Indian Bank
SAM Branch
Rep by its Asst General Manager
2nd line Beach Road,
Chennai – 600 001.
….Applicant
-Vs-
1.
M/s. Sujatha Biotech
Rep by its Partner, Dr. C.K. Rajkumar
No.23, Dr. Ambedkar Road, Kodambakkam
Chennai – 600 024
2.
Dr. C.K. Rajkumar
S/o. Chinnikrishna
3.
Mrs. R. Sujatha
W/o. Dr. C.K. Rajkumar
.
2 & 3 at No.40, G.N. Chetty Road,
T. Nagar, Chennai – 600 017.
…..Defendants
Counsels on record / appeared:
Counsel for Applicant
:
M/s. P.V. Murlidhar
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ORDER
1. This OA is filed by the applicant bank for recovery of a sum of Rs.7,84,60,372/- 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
T.A. No. 135 of 2023
08.03.2024 under OTS, which was accepted by applicant and accordingly, defendants had remitted a sum of Rs.5,35,00,000/-. Hence, applicant bank prayed that the OA claim may be treated as settled out of Court.
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 pronounced by me in Open Court, on this the 08th day of March, 2024)
Sd/- (GANAPATHI K.R.K) PRESIDING OFFICER