BEFORE THE LOK ADALAT HELD IN DISTRICT FORUM-I, U.T.

CHANDIGARH

                                                                        Consumer Complaint No. 1391 of 2009

Rajesh Bindal son of Sh.Rattanlal, r/o H.No.3416, Sector 24-D, Chandigarh                                                                                                                                  –          Complainant.

                                                Versus

Standard Chartered Bank, SCO No.137-138, Sector 9-C, Chandigarh, through its Branch Manager                     

                                                                                                –          Opposite Party (OP)

Present:           Sh.Paras Money Goyal, Advocate for Complainant.

Sh.Sandeep Suri, Advocate for OP.

Dated, the 19^th day of March, 2010.

                        ORDER

1.                     This case has been taken up today in the Lok Adalat. Efforts were made to settle the matter, which stood fructified and the parties have settled the dispute. Statement given by the learned counsel for the parties is reproduced as under:-

“Statement of Sh.Sandeep Suri, Advocate for OP.

The matter has been settled between the parties under which the OP Bank has agreed to accept an amount of Rs.5.45 lacs on account of the complainant towards full and final settlement of the amount payable and due under the loan account in dispute i.e. Account No.70005022887, provided the amount is paid on or before 30.3.2010. On closure of the account, the necessary formalities for return of title deed etc. deposited as security shall also be returned to the complainant as expeditiously as possible.

Statement of Sh.Paras Money Goyal, Advocate for Complainant.

I have read the statement of Sh.Sandeep Suri, Advocate for OP and the same is acceptable to me. The complaint may be disposed of accordingly.”

2.                     In view of the above statement, the complaint stands disposed of. The OP would accept an amount of Rs.5.45 lacs from the complainant towards full and final settlement of the amount payable and due under the loan account in dispute i.e Account No.70005022887. Further, on closure of the account, the OP would return to the complainant title deed etc. deposited as security as expeditiously as possible.

3.                     Copies of this order free of cost be supplied to the parties. The file be consigned.                          

                                                                                                PRESIDING OFFICER

                                                                                                LOK ADALAT

                                                2nd MEMBER                       1st MEMBER