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    The document summarizes a case from the Debt Recovery Tribunal-2 in Chandigarh, India. The Punjab National Bank had filed a case (OA/1815/2019) against M/s Syschem India Ltd and others to recover debts. However, the proxy counsel requested to withdraw the case, as there was a one-time settlement reached where the defendants paid Rs. 14,75,00,000 to settle the dues in full. As the settlement amount was paid, the bank's account was closed on March 17th, 2022. Therefore, the tribunal dismissed the case as withdrawn and ordered that the court fees be refunded according to the rules.

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    Syschem Order (2)

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    The document summarizes a case from the Debt Recovery Tribunal-2 in Chandigarh, India. The Punjab National Bank had filed a case (OA/1815/2019) against M/s Syschem India Ltd and others to recover debts. However, the proxy counsel requested to withdraw the case, as there was a one-time settlement reached where the defendants paid Rs. 14,75,00,000 to settle the dues in full. As the settlement amount was paid, the bank's account was closed on March 17th, 2022. Therefore, the tribunal dismissed the case as withdrawn and ordered that the court fees be refunded according to the rules.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    4 views1 page

    Syschem Order

    Uploaded by

    dharmanichambers
    The document summarizes a case from the Debt Recovery Tribunal-2 in Chandigarh, India. The Punjab National Bank had filed a case (OA/1815/2019) against M/s Syschem India Ltd and others to recover debts. However, the proxy counsel requested to withdraw the case, as there was a one-time settlement reached where the defendants paid Rs. 14,75,00,000 to settle the dues in full. As the settlement amount was paid, the bank's account was closed on March 17th, 2022. Therefore, the tribunal dismissed the case as withdrawn and ordered that the court fees be refunded according to the rules.

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    © All Rights Reserved
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    of 1

    DEBTS RECOVERY TRIBUNAL-2, CHANDIGARH

    ITEM NO.7
    OA/1815/2019 PUNJAB NATIONAL BANK Vs MS SYSCHEM INDIA LTD
    AND OTHERS
    18.08.2022
    Present: Sh. Samrat Ahuja, proxy counsel for Sh. Vipul Dharmani,
    counsel for the applicant bank

    Proxy counsel has requested for withdrawal of the OA.


    There is affidavit of Sh. Jagdish Lal, Chief Manager of the
    applicant bank deposing therein that there was a one-time settlement
    between the parties for a sum of Rs.14,75,00,000/- as full and final
    settlement of the dues; that the settlement amount was paid by the
    defendants; that account was closed on 17.03.2022; that the applicant bank
    wanted to withdraw the OA and the Court fee might be refunded as per DRT
    (Refund of Court fee) Rules, 2013. In these circumstances, the OA is
    dismissed as withdrawn. Court fee be refunded as per rules. File be
    consigned to the record room after due compliance.

    Announced in the open Tribunal (M.M.Dhonchak)


    Presiding Officer
    DRT-2, Chandigarh

    SP

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