INDIAN BANK vs M.S.GNANASOUNDARI . — SLP(C) No. 8888/2009

Case Summary: Indian Bank v. M.S. Gnanasoundari Outcome: The Supreme Court dismissed Indian Bank's Special Leave Petition on 15/02/2010. The Court upheld the Madras High Court's decision directing the Debts Recovery Tribunal to decide the respondent's application for condonation of delay in payment of Rs. 111.5 lakhs, and affirmed the Tribunal's order granting the extension. Key Facts: The bank had granted loans totaling Rs. 97 lakhs to the respondent's deceased husband in 1991. Following a Lok Adalat settlement in 2004, respondent was to pay Rs. 38.5 lakhs by March 2004 and Rs. 111.5 lakhs by September 2004. She paid the first installment on time and subsequently paid Rs. 24 lakhs in interest, but missed the second deadline. The Court found her conduct sufficiently compliant to justify extending the payment deadline. This case analysis is maintained by casestatus.in based on publicly available court records.