The Debt Recovery Appellate Tribunal allowed a withdrawal application by the appellant, permitting the refund of a pre-deposit of Rs.5,30,00,000 along with accrued interest to enable settlement of the dispute with the loan assignee.
Withdrawal of appeal and refund of pre-deposit of Rs.5,30,00,000 along with accrued interest ordered.
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DEBT RECOVERY APPELLATE TRIBUNAL - MUMBAI
Dated :2.4.2025
This application is filed by petitioner/appellant to withdraw the appeal and consequently direct the Ld. Registrar to refund the amount of Rs.5,30,00,000/ - deposited towards pre-deposit along with accrued interest in favour of the petitioner/appellant.
Ld. Counsel for respondent Mr. Vishal Tambe submitted that he is going to file vakalath today and respondent has no objection for withdrawal of the appeal and refund of pre-deposit along with accrued interest to the petitioner/appellant.
According to petitioner/appellant, the reason for withdrawal of this appeal is that petitioner/appellant is taking steps to Settle the dispute with the assignee of the loan viz. Invent Assets Securitisation & Reconstruction Pvt. Ltd.
In the circumstances stated by Ld. Counsel for appellant, appellant is permitted to withdraw this appeal and the sum of Rs.5,30,00,000/deposited by the appellant towards pre-deposit is ordered to be refunded to the appellant along with accrued interest if any through RTGS as perthe details given below.
a) Name Stemkor International Pvt. Ltd. b) Bank Name : Shalin Sahakari Bank Ltd. c) IFSCCode : SVCB0046002 d) Account No. : 000201700003199
Accordingly, IA Dy.No.485/2025 is allowed as prayed for. Appeal Dy.No.609/2024 is dismissed as withdrawn. Consequently, IA Dy.No.2621/2024 (stay) stands closed.
SN
CHAIRPERSON,telENNAI (IN<HARGE, DRAT, MUMBAI)
Stemkor International Pvt. Ltd.
Invent Assets Securitisation & Reconstruction Pvt. Ltd.
CHAIIRPERSON,TEHNNAI (IN CHARGE, DRAT, MUMBAI)
As recorded by the court registry
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