Debts Recovery Tribunals and Appellate Tribunals
JAMMU AND KASHMIR BANK LIMITED vs Maas Sanitary and Ceramics on 30 July 2024
TA No.1402 of 2023
30.07.2024
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 30th day of July, 2024
Present: SHRI A. S. JAYACHANDRA
Presiding Officer (In – charge)
TRANSFERRED APPLICATION No. 1402 of 2023
(Originally filed before DRT- II, Chennai as OA 225/2022 and thereafter transferred to this Tribunal and renumbered as TA No 1402 of 2023)
The Jammu and Kashmir Bank Limited
Represented by its Branch Head and
Power of Attorney Holder
New No. 221, Old No. 162, 1st Floor,
Metro Plaza, Mount Road,
Chennai – 600 002.
.…. Applicant
-Vs-
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1. M/s. Maas Sanitary and Ceramics, Represented by its Partners, Mr. A.M.M. Musthafa and Mr. Abdul Salam, New No. 20, Old No. 45, Post Office Street, Parrys, Chennai – 600 001.
2. Mr. A.M.M. Musthafa, S/o. Mr. Abdul Hameed, No. 122/91, Raman Street, Royapuram, Chennai – 600 013.
3. Mr. Abdul Salam, S/o. Mr. G. M. Sultan Mohideen Old No. 23, New No. 53, Shaikh Maistry, 2nd Street, Royapuram, Chennai – 600 013.
4. Mr. Asif Nabi Mir, S/o. Mr. Gulam Nabi Mir, No. 16/69, Central Street, Garden Colony, Kilpauk, Chennai – 600 010.
5. Mrs. A. Sureth Nisha, W/o. Mr. A.M.M. Musthafa No. 122/91, Raman Street, Royapuram, Chennai – 600 013.
…. Defendants
Counsels on record / appeared:
Counsel for Applicant : Mr. Chetan Sagar for M/s. Arjun Suresh Defendants were set ex-parte on 01.08.2023
TA No.1402 of 2023
30.07.2024 PROCEEDINGS DATED 30.07.2024
Heard the Ld. counsel on the full satisfaction memo dated 20.02.2024.
1. Ld. Counsel for the applicant bank submits that the OA is filed for recovery of Rs.53,42,092.76p
2. It is further submitted that the bank accepted the OTS proposal. The defendant paid the amount of Rs.38,30,876 on the first sanction letter dated 05.09.2023 and further paid a sum of Rs.9,36,467 pm on the second sanction letter dated 20.11.2023. The defendants had paid altogether a sum of Rs.47,67,343/- by way of OTS.
3. The applicant bank is in receipt of the entire amount agreed between the parties. The claim is thus satisfied.
4. In view of the above, OA stands disposed of as settled outside the Tribunal and the same is taken on record.
5. With this realization, the applicant bank prays for return of original documents [Ex.A01 to Ex.A36]. The same may be returned as per the Form 11, if found on record subject to no legal impediments.
6. Copies be communicated to the parties.
Sd/- (A.S. JAYACHANDRA)
PRESIDING OFFICER (In-charge)