The Hindu : Tamil Nadu News : Lok Adalats settle 258 accounts

Online edition of India's National Newspaper
Monday, Feb 14, 2005

Tamil Nadu

Tamil Nadu

Lok Adalats settle 258 accounts

By Our Staff Reporter

Thanjavur Feb. 13. Lok Adalats conducted at three places — Thanjavur, Kumbakonam and Perambalur, on February 11 and 12, Indian Overseas Bank, the lead bank for Thanjavur and Perambalur districts, resulted in settling accounts of 258 cases related to non-performing assets (NPA) amounting to Rs. 37.39 lakhs.

In a press release, T.S. Sargunapandiyan, Chief Regional Manager, IOB, Thanjavur region, said spot cash recovery of Rs. 5.38 lakhs was achieved through the three lok Adalats.

At Kumbakonam, a Lok Adalat committee comprising M. Arumugam, sub-judge (retired) and members — M. Subramanian, Muthu Subramanian and Vadivelu of Legal Authority, settled 87 accounts amounting to Rs. 10.11 lakhs towards settlement of NPA accounts and achieved spot cash recovery of Rs. 1.97 lakhs.

At Thanjavur, a committee comprising M. Arumugam, and Ganesan, Viswanathan and Palanisamy of Legal Aid Authority, settled 100 accounts amounting to Rs. 10.95 lakhs towards settlement of NPA accounts and collected spot cash recovery of Rs 1.03 lakhs.

And at Perambalur, a committee led by Rethinaraj, district judge, and members — M. Gopalasamy, retired district judge, P. Dhanraj, Harikrishnan, judge and Krishnamoorthy of Legal Aid Authority, settled 71 accounts amounting to Rs. 16.33 lakhs towards settlement of NPA accounts and achieved a spot cash recovery of Rs.2.38 lakhs.

Besides Mr. Sarguna Pandiyan, S. Mahalingam and T. Rajagopalan, Chief Officers; M.Valayapathi, Lead District Manager; R. Chandrasekar, Law officer; G. Sathiyanarayanan, Recovery Officer; and branch managers of Indian overseas Bank, among other bank staffs participated in the Lok Adalats.

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