Appeal No. 108 & 289 of 2018 & Appeal No. 17 of 2023-DRAT-Kolkata Appeal No.108 of 2018, Appeal No.289 of 2018 have arisen against a common judgment and order dated 21st March, 2018 passed by Learned Debts Recovery Tribunal-III, Kolkata in S.A. 73 of 2018 (Cygnus Equipments & Rentals Private Limited -vs- Bank of Baroda) and S.A. 87 of 2018 (M/s Sunway Infrastructure Services Limited -vsBank of Baroda & Others), while Appeal No. 17 of 2023 has arisen against order dated 28th March, 2018 hence all three appeals are being decided by a common judgment. 2. Respondents in all the appeals are Borrowers of the Appellant Bank who expressed their willingness to settle the matter vide order dated 7th March, 2018 in S.A. 73 of 2018 and order dated 14th March, 2018 in S.A. 87 of 2018. When the Borrowers expressed their willingness to settle the matter, the General Manager of the Appellant was directed to consider the proposal submitted by the Borrowers and to intimate the same within a week. On 21st March, 2018 it was communicated to the Learned DRT that the proposal submitted by the Borrowers was very low hence it was not approved. Borrowers further expressed their willingness to enhance the proposal. During the course of hearing a consolidated proposal for the three Companies, namely, Cygnus Spendid Limited, Cygnus Equipments & Rentals Private Limited, Sunway Infrastructure Services Limited, for Rs.6.00 crore was submitted from the side of the Borrowers. An amount of Rs. 74,44,534.00 has been paid by them after issuance of the Demand Notice. It is submitted that the same may be treated as 'Upfront Amount'. Consequently, Learned DRT passed the impugned order issuing certain directions for settlement of the Account with a restraint order in favour of the Borrowers directing the Bank not to take any coercive action against the Borrowers. Feeling aggrieved by the impugned order, Appellant Bank preferred the instant three appeals.
