Debts Recovery Tribunals and Appellate Tribunals
UCO BANK vs BALAJI THEATRE AND OTHERS on 30 December 2024
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 30th day of December, 2024
Present: SHRI A. S. JAYACHANDRA
Presiding Officer (In – charge)
TRANSFERRED APPLICATION No. 1 of 2015
(Originally filed before DRT- I, Chennai as TA.NO. 422/1998 and thereafter transferred to this Tribunal and renumbered as TA No 1 of 2015)
M/s. IFCI Limited,
IFCI Tower, 61 Nehru Street,
New Delhi – 110 019.
Represented by its Manager - Law,
Former Address is:
Continental Chambers,
2nd Floor, 142, M.G. Road,
Nungambakkam,
Chennai – 600 034.
Tamil Nadu
.…. Applicant
-Vs-
1.
M/s. Balaji Theatre
Rep by its Shri P. Perumal @ Kaliaperumal, 92, Muthiah Mudali Street, Muthialpet, Pondicherry – 605 003.
2.
Shri. R. Perumal
92, Muthiah Mudali Street,
Muthialpet,
Pondicherry – 605 003.
3
Shri. P. Apparsamy
92, Muthiah Mudali Street,
Muthialpet,
Pondicherry – 605 003.
4.
Shri R. Shanmuganathan
92, Muthiah Mudali Street,
Muthialpet,
Pondicherry – 605 003.
5.
Shri K. Ramesh
92, Muthiah Mudali Street,
Muthialpet,
Pondicherry – 605 003.
6.
Shri. S.A. Manjini Mudaliar
92, Muthiah Mudali Street,
Muthialpet,
Pondicherry – 605 003.
7.
Shri P. Dhandapani
92, Muthiah Mudali Street,
Muthialpet,
Pondicherry – 605 003.
8.
Central Bank of India
No.4, Ambalathadiyar Madam Street,
Pondicherry.
9.
Shri V. Narayanan
No.48, Anna Salai,
Pondicherry
…. Defendants
Counsels on record / appeared:
Counsel for Applicant Bank
:
M/s. T.S. Gopalan And Co
Counsel for Defendants
:
M/s. Pushpa Sathyanarayana
PROCEEDINGS DATED 30.12.2024
The file is put up today consequent to the Full Satisfaction Memo dated 19.09.2024. The said Memo is filed by the applicant FI.
None appears for the parties. Perused the memo
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ORDER
1. The TA/422/1988 was registered at DRT-I, Chennai after the receipt of the Decree in OS/512/1984. The same is transferred to DRT-III and re-numbered as TA/1/2015.
2. It is also found from the memo that the present ARC had acquired the interest in the debt vide assignment deed dated 25.02.2011.
3. It is reported in the Memo that the defendants had entered into OTS and paid a sum of Rs.2,55,00,000 on 01.05.2019 subject to certain conditions.
4. The applicant ARC issued no due certificate dated 03.03.2023 in favour of D1. According to the terms, the documents are to be handed over to the defendants. Therefore, the applicant FI seeks the recording of Full Satisfaction Memo and prays for return of the documents mentioned in the application.
5. Now, the Registry reports that the documents are available on the file.
6. In view of the above and further the applicant having issued no due certificate to the defendants, the present IA stands disposed of by the following:-
ORDER
TA stands disposed of as settled under OTS The original documents may be returned upon receipt.
7. Copy of this order be communicated to the concerned parties.
Sd/- (A.S. JAYACHANDRA)
PRESIDING OFFICER (In-charge)
(Dictated to Steno, who typed directly in the system, corrected, signed and pronounced in Open Court, on this the 30th day of December, 2024)