The appellate tribunal dismissed the bank's appeal as withdrawn, deeming it infructuous after the DRT vacated the earlier status quo order. The bank now intends to proceed under SARFAESI Act.
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DEBTS RECOVERY APPELLATE TRIBUNAL, DELHI
Misc. Appeal No. 162/2021 Arising out of T.S.A. No. 08/2021 (DRT, Jaipur)
D.C.B. Bank Ltd. Vs
Mr. Subodh Sharma
18.10.2022 Hon’ble Mr. Justice Brijesh Sethi
Present: Mr. Hashmat Nabi, Ld. counsel for the appellant
This matter has been taken up by me through Video Conferencing.
Learned counsel for the appellant states that this appeal was filed against the order dated 30.10.2021 passed by the learned DRT directing status quo on deposit of Rs.2.5 lacs by the respondent herein. He further states that vide order dated 08.12.2021 the learned DRT has vacated the status quo order and, therefore, this appeal has become infructuous. In view of this, learned counsel seeks permission to withdraw the appeal.
Learned counsel for the appellant also states that subsequent to the above order, the account of the respondent was standardized, but it again became NPA on 04.07.2022 and, therefore, the bank wants to proceed under the SARFAESI Act in accordance with law.
Be that as it may, the appeal is dismissed as withdrawn as having become infructuous.
File be consigned to record room.
(CHAIRPERSON)
-pk
D.C.B. Bank Ltd.
Mr. Subodh Sharma
Brijesh Sethi
As recorded by the court registry
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