Settlements to the tune of Rs. 41.65 lakh on cases related to non-performing assets (NPA) were made during the lok adalat held on the district court premises on Thursday.
During the hearings on NPAs belonging to three branches of the State Bank of India — the Thoothukudi main branch, Chidambara Nagar and Bazaar branch — at the Alternative Dispute Resolution building in the court complex, loans totalling Rs. 19.43 lakh were written off, while NPAs worth Rs. 22.22 lakh were ordered to be repaid by the borrowers.
Principal District Judge D. Elangovan, who inaugurated the programme, said that such cases on NPAs get quickly resolved through lok adalat as appeals are not possible under the system. He urged the public and borrowers to make use of it to resolve their cases.
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