Authority: Supreme Court Special Lok Adalat
Order Date: 21-08-2026
Case Overview
- Parties: Union Bank of India (Appellant) vs. Avinash Govind Joshi (Respondent).
- Civil Appeal No. 8758 of 2016 before the Special Lok Adalat of the Supreme Court.
- The parties reached a settlement, documented in a Joint Memo of Settlement and a Settlement Agreement dated 16.07.2026 (digitally signed on 03‑09‑2026, signature not verified).
- Key terms of the settlement:
- The Registry shall pay the amount deposited by the appellant‑Bank, together with accrued interest, back to the appellant.
- Subsequently, the appellant‑Bank shall pay Rs.75,000 to the respondent as stipulated in paragraph No.7 of the Settlement Agreement.
- Upon receipt of this payment, the loan account will be deemed fully settled.
- The appellant‑Bank shall issue a no‑dues certificate to the respondent and close the loan account.
Final Outcome
- The Civil Appeal is disposed of in accordance with the Settlement Agreement dated 16.07.2026.
- The Registry is directed to draw up a decree reflecting the settlement terms.
Topics: Settlement, Banking, Legal