M/s Shravani Real Estates and Ors. versus The Bicholim Urban Co-operative Bank Ltd. and Ors.

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BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present: Mr Justice Ashok Menon, Chairperson

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M.A. No. 64/2022 (RoM) In

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(Appeal No. 270/2009- Disposed of)

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Between

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M/s Shravani Real Estates & Anr. … Appellant/s

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V/s.

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The Bicholim Urban Co-operative Bank Ltd. & …Respondent/s Ors.

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Ms Aarti Suvarna, Advocate for Appellant. Mr S. Thatte, Advocate for Respondent No. 1. Mr M. G. Sakpal, Advocate for Respondent Nos. 4 & 5.

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-: Order dated: 08/12/2022:-

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The matter is taken up for hearing by way of praecipe dated 01.12.2022 filed by Appellants seeking urgent relief.

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The Appeal was disposed of as withdrawn but prior to that, a pre-deposit of ₹30 lacs was made by the Appellants. The OTS proposal between the Bank and the Appellants has been accepted and accordingly, the Appellants have filed M.A. No. No. 64/2022 for withdrawal of the amount in deposit together with the accrued interest. The settlement provides for an appropriation of ₹12 lacs by the Appellants and the rest of the amount has to be handed over to the Bank which they have agreed. The communication pertaining to that has been produced and hence, the Registry is directed to refund the entire amount together with the accrued interest to Appellant No.

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1

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1 on proper acknowledgement subject to the condition that they would pay a sum of ₹18 lacs together with the accrued interest to the Respondent Bank.

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Sd/Chairperson

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mks-09

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2

M/s Shravani Real Estates and Ors. v. The Bicholim Urban Co-operative Bank Ltd. and Ors.

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M/s Shravani Real Estates and Ors. v. The Bicholim Urban Co-operative Bank Ltd. and Ors.

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