Heard the complainant no.1 in person. This complaint was listed day before yesterday and was directed to come up today for orders. Learned counsel for opposite party had informed the Bench about the settlement and the letter dated 04.08.2023 addressed to the complainants. The contents of the said letter are extracted hereunder:- “Ref:- TCHFL/Aug/MP/01 Date: 04/08/2023 To. Mr. Manish Kumar Patni and Mrs. Monika Patni C/o A-153, Belvedere Park, DLF Phase-3, DLF Cyber City, Gurgaon-122002 Subject: Full and Final closure of your loan account bearing no. 9183303 with Tata Capital Housing Finance Ltd. (TCHFL) Dear Sir/Madam Based on the discussions and understanding arrived at between Mr. Manish Kumar Patni and Mrs. Monika Patni (the "borrowers") and Tata Capital Housing Finance Ltd ("TCHFL") as the Lender, we hereby set out the following mutually agreed terms for the amicable settlement of the loan account viz a viz disposal of all Civil and Criminal, Recovery proceedings as under SARFAESI before DRT, FIR & Section 138 NI/ Section 25 PSA litigation proceedings instituted between TCHFL and Mr. Manish Kumar Patni & Monika Patni and against TCHFL. That the following litigations are pending between the borrowers and TCHFL: 1. Consumer Case No. CC/799/2020 filed before Hon'ble National Consumer Disputes Redressal Commission (“NCDRC”) vide title as Manish Kumar Patri & Ant V/s Tata Capital Housing Finance Ltd. 2. Securitisation Application No. SA/113/2022 filed before Hon'ble Debt Recovery Tribunal, Delhi vide title as Manish Kumar Patni and Anr V/S Tata Capital Housing Finance Ltd. 3. Criminal matter against TCHFL vide F.I.R. No. 9/2023 before the EOW (Economic Offence Wing) related to the transactions of this loan, its Employees, Associates, etc In this context, without prejudice to rights of both the parties, below mentioned terms and conditions are decided to be agreed for a mutual settlement: - That Mr Manish Kumar Patni and Mrs Monika Patni (Borrowers) shall pay an amount of Rs 53,00,000/- (Rupees Fifty Three lakhs) (OTS Amount) towards full and final settlement of loan account no 918330 on or before 30th October 2023 (i.e. Due date)
- It is further agreed that TCHFL shall withdraw the SARFAESI proceeding initiated towards recovery of the loan outstanding amount upon the mortgaged property, subject to condition of complete payment of the OTS amount against the outstanding loan amount on or before the above-mentioned due date.
- That TCHFL shall withdraw the proceedings initiated if any under the provisions of Section 25 of The Payment and Settlement Systems Act, 2007 & Section 138 and other relevant sections of the Negotiable Instrument Act after payment of entire settlement amount.
- That "Borrowers shall unconditionally withdraw the consumer complaint vide CC/799/2020 and Securitisation Application bearing No SA/113/2022 filed before the Hon'ble NCDRC and Hon'ble DRT respectively.
- That Borrowers will extend their support and facilitate the closure of FIR and all other criminal matters filed and/or pending against TCHFL, its employees/ex-employees and other associates of TCHFL.
- The borrowers will also extend their unconditional support and will not raise any objections for applications/proceedings initiated by TCHFL with respect to and limited to quashing/withdrawal of any existing/pending proceedings as mentioned in this letter or other by TCHFL or its employees, ex-employees or Associates.
- That TCHFL will have no objection with respect to the Borrowers from proceeding against other accused(s) in the FIR.
- Borrowers will also file their statement before EOW for withdrawal of allegation against TCHFL or its employees, ex-employees or Associates.
- Borrowers shall withdraw all the litigations filed and currently pending against TCHFL before any court, tribunal or commission apart from the above-mentioned cases which is not in the knowledge of TCHFL including the pending criminal proceedings.
- Similarly, TCHFL will also withdraw all litigations pending before any tribunal, court or commission or otherwise not included in the list of cases recorded in this letter except for the applications required to be initiated for defending the Criminal case/s upon receipt of entire amount.
- That any settlement arrived between borrowers and TCHFL will not affect the rights of the borrowers with respect to any proceedings against any other party, Builder etc. and borrowers will be free to pursue any charges, claims or litigations against the other party(ies) and also that borrowers will be free to pursue any charges, claims or litigations against the other parties.
- Similarly, any settlement arrived at between borrowers and TCHFL will not affect any proceedings or litigation filed by TCHFL against any other party including the Builder etc.
This is pertinent to bring on record & kind knowledge of bothe parties that upon payment of the complete settlement amount on or before the due date and compliance of the above mentioned terms and conditions, both Parties (TCHFL & Borrowers) shall proceed as per above agreed terms. In the event of non-payment of amicable sensed amount and failure to adhere to any of the terms and conditions as mentioned above, the settlement shall and cancelled/void without any further notice to either side and both sides shall be entitled to exercise all their respective legal rights with respect to the subject loan account. It is agreed between the parties that TCHFL has no objection to the Borrowers making an application before the appropriate Count of Law/ Authority to seek an appropriate direction to the Credit Rating Agencies about the improvement/ reinstatement of their credit scores. Borrowers confirms that they have no claim and shall not have any claim against TCHFL in this regard. Kindly note that this is being issued without prejudice to the nights and contentions of parties as per the laws prevalent for the time being in force in India. Yours faithfully, For, Tata Capital Housing Finance Limited Sd/- Authorised Signatory I/We accepted Mr. Manish Kumar Patni and Mrs. Monika Patni Sd/- Sd/- Signature” According to the said intimation, the opposite party has closed the loan account of the complainants upon having settled the matter finally in terms which are spelt out in the said letter. The complainant no.1 has drawn attention of the Bench to the prayer made in the complaint in clause (a) which is at the end of the prayer and is as follows: “a) Pass Appropriate orders/Directions to Reinstate the CIBIL scores of the Complainant(s) as they would have been as if this default did not occur at all” On a perusal thereof, the said prayer seems to have been made in the background that the complainants, on account of the default alleged by the opposite party in the payment of EMIs, were affected as their credit rating score had prevented them from taking any other loan from other financial institutions. The prayer therefore is that in view of the settlement arrived at, since the opposite party has expressed a clear intention in this respect as well that it has no objection to the consideration of this prayer, the order as prayed for be granted. It is evident from the last para of the said communication dated 04.08.2023 that the opposite party has made it clear that they would not object to any request being made by the complainants for reinstatement/improvement of their credit rating score. It is therefore obvious from the said settlement that the alleged default on the part of the complainants with the foreclosure of the account and complete satisfaction in terms of the settlement absolves the complainants only in so far as it relates to the transactions presently settled from any of the default clauses. As a consequence the complainants would not stand prejudiced in any way on the said count and shall be entitled to reinstatement/improvement of their credit rating score before the appropriate forum in accordance with law. Consequently, this complaint stands closed subject to the observations aforesaid. | 
