The DRT-A dismissed the appeal as withdrawn, noting the settlement agreement between the second appellant and the bank, despite a pending IBC admission for the first appellant.
Appeal disposed of as withdrawn; recording of settlement between second appellant and the Bank.
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BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present: Mr Justice Ashok Menon, Chairperson Misc. Appeal No. 143/2022
Between
M/s. National AutowheelsPvt. Ltd & Ors. … Appellant/s
V/s.
ICICI Bank Ltd. & Anr.
…Respondent/s
Mr Sidheshwar N. Biradar, Advocate for the Appellants.
Mr Rushabh Chopra, i/b M/s. Vidhii Partners, Advocate for the Respondents Nos. 1.
-: Order dated: 08/02/2023:-
The Ld. Counsel appearing for the Appellants have filed a pursis stating that the OTS proposal submitted has been accepted by the Respondent Bank and accordingly the Appellants have agreed to make payments to the bank.
The Ld. Counsel appearing for the Respondent submitted that the settlement was with the second Appellant. And that as against the first Appellant, an IBC proceeding is pending before the NCLT and that an order of admission has been passed and therefore, the Appellants may not be able to withdraw the appeal as regards the first Appellant.
However, if there are any such impediments, they are to be taken care of by the persons who are responsible for the company. Since Ld. Counsel holds vakalatnama for both the Appellants and the appeal has been filed together by the guarantors as also the borrower nothing prevents them from withdrawing the appeal.
Hence, the appeal is disposed of as withdrawn recording settlement between the second Appellant and the Bank.
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M/s. National Autowheels Pvt. Ltd & Ors.
ICICI Bank Ltd. & Anr.
Ashok Menon
As recorded by the court registry
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