Debts Recovery Tribunals and Appellate Tribunals
BANK OF INDIA vs SRI NARASIMHAIAH ALIAS NARASIMHACHARI AND OTHERS on 29 December 2020
**IN THE DEBTS RECOVERY TRIBUNAL II, KARNATAKA AT
BENGALURU**
Dated this 29<sup>th</sup> Day of December, 2020
**Present: SMT. S.V. GOWRAMMA**
**Hon`ble Presiding Officer**
I.A. No. 31/2020
In
TA No.879/2017
In
RC No.1151/2019
**Between**
Bank of India.
Doddaballapur Branch,
Scout Camp Road,
3<sup>rd</sup> ward, Near Railway station, Apparel Park area, Doddaballapur-561203.
** ...APPLICANT**
**And**
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1. 1. Sri. Narasimhaiah alias Narasimhachari. S/o. Sri. Rangappa.
2. 2. Sri. Sathyanarayana. N S/o. Sri. Narasimhaiah alias Narasimhachari.
3. 3. Smt. Ranthamma. D/o. Sri. Narasimhaiah alias Narasimhachari.
4. 4. Smt. Parvathamma. D/o. Sri. Narasimhaiah alias Narasimhachari.
5. 5. Smt. Nirmala. D/o. Sri. Narasimhaiah alias Narasimhachari The Defendants Nos (1) to (5) Are residing at: Acharlahally, Tubugere Hobli, Doddaballapura Taluk, Bangalore Rural District.
1. 6. Sri. Anand Kumar.
2I.A. No.31/2020 in T. A. No.879/2017
S/o. Sri. Aswathappa. Residing at Kachalli Village, Tubugere Post, Doddaballapura taluk, Bangalore Rural District.
7. Sri. K. P. Narendra Babu. S/o. Sri. Pillamuniyappa. Residing at Kanivepur, Heggadihalli post, Doddaballapura Taluk, Bengaluru Rural District.
**...DEFENDANTS**
**ORDERS ON IA NO.31/2020**
The Applicant Bank has filed I.A. No.31/2020 to withdraw Recovery proceedings as the matter settled out of court, between the parties.
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2. The Chief Manager of the Applicant Bank came out with an affidavit stating that the T.A No.879/2017 was filed for recovery of debts from the defendants, and the same was allowed and RC No.1151/2019 was issued. During the course of the Recovery Proceedings the defendants in the above case have entered into a compromise with the Applicant Bank and they have remitted the sum of Rs.5,88,000/- towards full and final settlement of the applicant claim, under OTS scheme filed against the defendants. The Defendants have cleared all the dues to the Applicant Bank and Applicant bank have recovered entire claim amount and closed the loan accounts.
3. The Applicant Bank further prays in the Affidavits dated
3I.A. No.31/2020 in T. A. No.879/2017
01.12.2020 to drop further recovery proceedings in the above matter and permit the Applicant bank to withdraw the Recovery Certificate No.1151/2019.
4. Perused the records. The OA is filed for recovery of amounts due from the defendants/Certified Debtors together with current and future interest and costs and the same was allowed and RC No.1151/2019 was issued. During the pendency of the recovery proceedings the parties have entered into compromise settlement, and as stated in the affidavit a sum of Rs.5,88,000/- have been remitted by the defendants towards full and final claim of the applicant bank. As the entire claim of the applicant bank is received by the applicant bank, hence nothing survives in the present RC No.1151/2019, as prayed in the affidavit, RC No.1151/2019 issued is recalled and closed.
5. In view of the fact that the entire claim amount of the applicant is recovered, and the prayer for withdrawal of the Recovery Certificate bearing RC No.1151/2019 is allowed. Accordingly, I.A. No.31/2020 stands allowed. A copy of the order to be communicated to the Concerned R.O.
*[Dictated to the steno (TS), transcribed by her, corrected by me and then pronounced in the open court on this the 29<sup>th</sup> day of December, 2020]*
**Sd/-** **Presiding Officer** DRT-II, Bengaluru
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