(Order of the Court was made by S.Manikumar,J) Vide order dated, 2nd January 2017, the matter was referred to the Mediation and Conciliation Centre, High Court, Madras.
2. On this day, both the learned counsel for the parties submitted that subject matter of SARFAESI proceedings is settled.
3. Copy of the proceeding of the Mediation and Conciliation Centre, High Court, Madras, dated 3/1/2017 produced before us is extracted hereunder:-
1. Dr.S.Jayapradha the borrower along with her counsel present. Mr.V.G.Sekar (Guarantor/father of the borrower) seriously not well hence absent. Dr.S.Jayapradha agreed to pay Rs.6 lakhs as full and final settlement of the educational loan availed by her.
2. The petitioner agreed to pay a minimum of Rs.1.5 lakhs per month and agreed to settle the full amount of Rs.6 lakhs on or before 31st March 2017.
3. In case of default, the bank will get the right to collect full dues.
4. Mr.S.Suresh, AGM, State Bank of India, RASMECC, Pondicherry present along with their counsel agreed for the above terms and will not proceed further for recovery if the amounts are paid as agreed above.
4. In view of the above, writ petition is disposed of on the above terms. No costs. Consequently, the connected M.P is closed.
Department of Human Resources Development Shastri Bhawan New Delhi 110 001.
2. The State Bank of India Assistant General Manager RASMECC 208 Anna Salai Opp. Botanical Garden Pondicherry.
Writ Petition No.32522 of 2016 5/1/2017 http://www.judis.nic.in