Debts Recovery Tribunals and Appellate Tribunals
CANARA BANK vs M/S SRI SABARI EXPORTS on 31 December 2024
TA No.220 of 2023
31.12.2024
IN THE DEBTS RECOVERY TRIBUNAL-III, CHENNAI
Dated this the 31st day of December, 2024
Present: SHRI A. S. JAYACHANDRA
Presiding Officer (In – charge)
TRANSFERRED APPLICATION No. 220 of 2023
(Originally filed before DRT- II, Chennai as OA 152/2022 and thereafter transferred to this Tribunal and renumbered as TA No 220 of 2023)
Canara Bank,
Ashok Nagar Branch
Represented by its Senior Manager,
New No.17, Old No. 21A, 11th Avenue,
Ashok Nagar, Chennai – 600 083.
.…. Applicant
-Vs-
1.
M/s. Sri Sabri Exports,
Represented by its Proprietor,
Mr. J. Ramesh,
No. 5/70, Butt Lane, St. Thomas Mount,
Chennai – 600 016.
2.
Mr. J. Ramesh (Borrower)
S/o. Mr. Jayaram,
No. 1/715, 7th Street, Madipakkam,
Chennai – 600 091.
Also at:
No.5B, Navroj Flats,
1st Floor, 2nd Cross Street,
Karthikeyapuram, Madipakkam,
Chennai – 600 091.
3.
Mr. R. Prathap (Guarantor)
S/o. Mr. J. Ramesh,
No. 1/715, 7th Street, Madipakkam,
Chennai – 600 091.
Also at:
No.5B, Navroj Flats,
1st Floor, 2nd Cross Street,
Karthikeyapuram, Madipakkam,
Chennai – 600 091.
…. Defendants
TA No.220 of 2023
31.12.2024
Counsels on record / appeared:
Counsel for Applicant Bank :
M/s. K.V. Subramanian Associatez
Defendants 1 to 3 set ex-parte on 06.09.2023.
PROCEEDINGS DATED 31.12.2024
Ld. Counsel for the applicant has moved the “Full Satisfaction Memo” dated 25.03.2024, duly signed by the Senior Manager of the bank wherein it is recorded that:-
1.
OA is filed for recovery of Rs.1,08,61,671/-
2.
In the Memo, it is submitted that the mortgaged property was sold for a sum of Rs.41,55,000 and further the defendants have paid a sum of Rs.
10,89,785. All together a sum of Rs.52,44,785 is fully and finally settled and the applicant bank is satisfied with the total realization of Rs.52,44,785. Further, it is submitted by the Ld. Counsel that loan accounts are closed and the OA may be disposed. Hence, the following:-
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ORDER
(a) OA stands disposed of as settled outside the Tribunal.
(b) The Court Fee may be refunded to the eligible extent as per rules.
3. A copy of this order be sent to all the parties concerned. 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 31st day of December, 2024)