In the meantime, when this Petition came up for hearing, the Court was informed on 27 August 2010 that the bank and the borrower were in the process of settling the dispute. This statement was reiterated before the Court on 1 December 2010 by counsel appearing on behalf of the borrower. On 2 February 2011 the Fourth Respondent undertook to deposit an amount of Rs.10 lacs before this Court to establish their bona fides and the Court recorded that in the meantime, it would be open to the parties to negotiate on a settlement. Counsel appearing on behalf of the Petitioner states that Consent Terms were arrived at between the parties on 16 May 2011 which were filed before the Recovery Officer. The Consent Terms were taken on record by the Recovery Officer on 13 June 2011. By his order the Recovery Officer observed that the bank would be at liberty to produce the Consent Terms before this Court so as to enable the Petitioner to collect the amount of Rs.10 lacs deposited by the borrower. On 5 May 2011 when the proceedings cam up before the Division Bench counsel for the parties had informed the Court that the Consent Terms will be produced before the Tribunal and the Court observed that if that was done, the amount which was deposited before this Court can be transferred to the Debts Recovery Tribunal. It was thereafter that the Consent Terms were filed on the record of the recovery proceedings. A copy of the Consent Terms and the order of the Recovery Officer dated 13 June 2011 are placed on the record of these proceedings. Since the dispute insofar as the Petitioner is concerned has been settled, the Petitioner does not now seek to press the challenge to the proceedings which have been initiated by the State Excise Department. However, in terms of the agreement which has been arrived at between the Petitioner and the
