The Debt Recovery Appellate Tribunal disposed of Miscellaneous Appeal No. 13/2022 as withdrawn by the respondents, having settled the matter with the appellant bank. It directed that the existing order of status quo will not impede the settlement.
The pending status quo order dated 15.04.2021 will not come in the way of the settlement.
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DEBTS RECOVERY APPELLATE TRIBUNAL, DELHI
(Caveat No. 08/2022)
Misc. Appeal No.13/2022 Arising out of S.A.No.80/2019 (DRT-I, Delhi)
M/s Kotak Mahindra Bank Ltd. Vs H.R.Gupta & Sons & Ors.
10.11.2022 Hon’ble Mr. Justice Brijesh Sethi
Present: Mr. Mahip Datta Parasar, Ld. Counsel for appellant.
Ms. Reena Jain Malhotra, Ld. Counsel for respondents.
This matter has been taken up by me through Video Conferencing.
Miscellaneous Appeal No. 13/2022
Ld. Counsel for the respondents states that the matter has been settled with Kotak Mahindra Bank Ltd. and therefore seeks permission to withdraw the appeal.
Ld. Counsel for appellant bank states that however, the matter is under settlement with the respondents but there is status quo order passed by the Ld. DRT-I, Delhi in S.A. No. 80/2019 in operation which is under challenged before this Tribunal, therefore, appropriate direction may be passed that said order will not come into the way of settlement.
Ld. Counsel for appellant bank states that applicant bank does not claim any relief against respondent no.4 i.e. M/s Petrolube India Limited being a proforma respondent.
In view of the above, present appeal is disposed of as withdrawn being settled. However, it is made clear that the status quo order dated 15.04.2021 will not be come in the way of settlement.
File be consigned to record.
(CHAIRPERSON)
N
M/s Kotak Mahindra Bank Ltd.
H.R. Gupta & Sons & Ors.
Brijesh Sethi
As recorded by the court registry
7 orders share this CNR
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