Authority: Supreme Court (Special Lok Adalat)
Order Date: 22-08-2026
Case Overview
- Petition for Special Leave to Appeal (C) No(s). 24819/2023 filed by United Western Bank Limited (now IDBI Bank Ltd) against Maharashtra State Co‑operative Bank Limited.
- The dispute concerned a claim of the petitioner bank against the respondent, with the amount allegedly lying deposited with the Debt Recovery Tribunal (DRT).
- Counsel for the petitioner, on instructions from Mr. Joseph Kumar, Executive Director, IDBI Bank, and Mr. Somesh, CGM, Legal, IDBI Bank, offered that receipt of the DRT‑deposited amount together with any accrued interest would fully satisfy the bank’s claim, and no further claim would be raised.
- The respondent’s counsel, acting on instructions from the client present in Court, accepted the offer.
Final Outcome
- The settlement between the parties was recorded, confirming that the DRT‑deposited amount plus interest will satisfy the petitioner’s claim and that no additional claims shall be pursued.
- Accordingly, the Special Leave Petition was disposed of in terms of the settlement.
Topics: Banking Settlement, Supreme Court Lok Adalat