The Tribunal allowed the refund of Rs. 2 Lakhs pre-deposit towards the loan amount. It further granted permission to withdraw the appeal due to settlement between parties, dismissing the appeal accordingly and closing pending IAs.
Refund of Rs. 2 Lakhs allowed; appeal dismissed as withdrawn due to settlement; pending IAs closed.
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IN THE DEBTS RECOVERY APPELLATE TRIBUNAL AT CHENNAI
Dated the 10th of December, 2024
PRESENT: Hon’ble Mr. Justice G. Chandrasekharan CHAIRPERSON
R.A (SA): 32/2020
(SA No.141/2018 on the file of DRT -1, Chennai)
Between
S. Raghunathan, S/o. G. Shanmugasundaram, No.145, Main Road, Mel Bhuvanagiri, Chidambaram District.
… Appellant
And Indian Bank, Represented by its Authorised Officer, Chidambaram Bazaar Branch, Cuddalore – 608 001.
... Respondent Counsel for Appellant : A. Periyasamy Counsel for Respondent : M/s. P.V. Murlidhar
ORDER
When the matter is taken up, Learned Counsel for Petitioner/Appellant submitted that the Petitioner/Appellant has already filed IA 770/2024 seeking to refund of Rs.2 Lakhs, which was deposited as pre deposit for entertaining the Appeal, to be paid towards the loan amount to the Bank.
1
Learned Counsel for Respondent Bank endorsed no
objection to refund of this amount.
In the said circumstances, IA 770/2024 is allowed.
Registry is directed to refund Rs.2 Lakhs to the Petitioner/Appellant.
That apart, Learned Counsel for Petitioner/Appellant represented that the matter is settled between the parties and seeks permission to withdraw the Appeal and made an endorsement to that effect on the Memorandum of Appeal.
Permission is accorded. The Appeal in R.A
(S.A):32/2020is dismissed as withdrawn since it is settled
out of Tribunal. All pending IAs, if any, stand closed as infructuous .
[Dictated to Athistamani, PS, in open court, transcribed by her, corrected and signed by me this 10th of December, 2024]
2
2 issues framed by the court
Whether a refund of security deposit can be allowed when the appeal is withdrawn due to settlement between parties.
Whether the Appeal in R.A (S.A):32/2020 should be dismissed as withdrawn since it is settled out of Tribunal.
S. Raghunathan
Indian Bank
G. Chandrasekharan
As recorded by the court registry
13 orders share this CNR
Judgements on the same questions, provisions and authorities, from every court
