Debts Recovery Tribunals and Appellate Tribunals
PUNJAB NATIONAL BANK vs SIVASUBRAMANIAN on 25 March 2024
T.A. No. 1293 of 2023
25.03.2024
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 25th day of March, 2024
Present: Shri Ganapathi K.R.K.
Presiding Officer
TRANSFERRED APPLICATION No. 1293 of 2023
(Originally filed before DRT- II, Chennai as OA 223/2021 and thereafter transferred to this Tribunal and renumbered as TA No 1293 of 2023)
M/s. Punjab National Bank,
Circle Sastra Centre, Chennai South,
PNB Towers, 46-49, Mezzanine Floor,
Royapettah High Road, Royapettah,
Chennai-600 014.
….Applicant
-Vs-
1.
Mr. T. Sivasubramanian,
S/o. Thandapani,
2.
Mrs. S. Chitra,
D/o. T. Sivasubramanian,
3.
Mrs. S. Balasaraswathi,
W/o. T. Sivasubramanian,
4.
Mr. Karthikeyan,
S/o. T. Sivasubramanian,
All are residing at:
No.21, Subramaniar Street,
Thillai Nagar, Villianoor,
Puducherry-605 110.
…..Defendants
Counsels on record / appeared:
Counsel for Applicant
:
M/s. Suresh Law Associates
Counsel for Defendants
:
M/s. R. Sreethar
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ORDER
1. This OA is filed by the applicant bank for recovery of a sum of Rs.53,06,461.81 together with future interest and costs.
T.A. No. 1293 of 2023
25.03.2024
2. A memo is filed by 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 bank and accordingly, defendants had remitted a sum of Rs.28,94,000/- viz., Rs.3,94,000/- on 21.10.2024 and Rs.
lakhs on 14.02.2024,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.
3. Notice to defendants is duly served and applicant bank had furnished acknowledgment cards.
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 25th day of March, 2024)
Sd/- (GANAPATHI K.R.K) PRESIDING OFFICER