Date:13/03/2004 URL: http://www.thehindu.com/2004/03/13/stories/2004031303151601.htm

Business - Briefly

IOB's Lok Adalat

TIRUCHI: Lok Adalat was conducted for five branches of Indian Overseas Bank in Manapparai taluk at the District Musif Court premises, Manapparai. A total 416 notices were issued to the borrowers categorised non-performing assets to the total claim of Rs. 98.29 lakhs.

About 120 borrowers attended the meet. Based on the negotiations, 100 cases were settled for a recovery of Rs. 17.34 lakhs and decrees were passed immediately. Based on the decree passed, 60 borrowers remitted Rs. 6.16 lakhs on the spot.

The retired District Judge, K. S. Narasimhan, retired subordinate judge, K. Manoharan, District Munsif, Manapparai, T. Indirani, the Chief Regional Manager, Indian Overseas Bank, V. R. Veerasekaran participated in the Lok Adalat. — Our Special Correspondent