This reference order discharged a lump sum deposit of ₹1 Crore by the appellant-Gangaram Narayandas towards settlement of the debt dispute with HDB Financial Services.
Amount in deposit together with accrued interest released to the first Respondent Company.
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BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present: Mr Justice Ashok Menon, Chairperson M.A. No. 25/2023(Refund of Money)
In
(Misc. Appeal No. 35/2022-disposed of)
Between
Gangaram Narayandas, Through its Proprietor, Shri Kishor S/o Gangaram Lakhwani & Ors.
… Appellant/s
V/s.
HDB Financial Services & Anr.
…Respondent/s
Mr Radhe Agarwal, Advocate for the Appellants. Mr R. L. Motwani, Advocate for the Respondents. Mr Mangesh, Officer of the Bank.
-: Order dated: 14/03/2023:-
The appeal was disposed of on 03.11.2022. The Appellants had deposited a sum of ₹ 1 Crore before this Tribunal and thereafter, the dispute between the Appellants and the Respondent has been settled and the payments have been made in discharge of the debt due from the Appellants.
As per the terms of the settlement, the amount in deposit before this Tribunal together with the accrued interest is agreed to be released to the first Respondent Company towards payment of dues. The Appellant pray that the amount may be released to the first Respondent. Accordingly, the application is allowed and the Registrar is directed to release the amount in deposit together with the accrued interest to the representative of the first Respondent Company on due acknowledgment.
Chairperson
rm-40
1
Gangaram Narayandas
HDB Financial Services
Ashok Menon
As recorded by the court registry
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