The Appellate Tribunal disposed of an appeal as withdrawn following an acceptance of the out-of-court settlement proposal by the appellants and release of the deposited amount.
Appeal disposed as withdrawn. Respondent bank to issue No Due Certificate upon receipt of dues; appellants discharged.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
BEFORE THE DEBTS RECOVERY APPELLATE TRIBUNAL, AT: MUMBAI Present : Mr. Justice Ashok Menon, Chairperson
I.A. No. 92/2025 In Appeal No. 61/2024
Between
Sun Infrastructure Pvt. Ltd. & Ors. … Appellant/s V/s.
Canara Bank …Respondent/s
Mr. Akshay Petkar along with Mr. Vivek Punjabi & Mr. Priyansh Jain, Advocate for Appellants.
Mr. Prakash Shinde along with Mr. Bhavesh Poojary, i/b M/s. MDP Legal, Advocate for Respondent.
-: Order dated: 10/02/2025:-
The matter is taken up for hearing by way of a praecipe filed by the appellants for seeking urgent relief.
It is submitted by the parties that the OTS proposal has been accepted and a sum of ₹11.50 crores is to be paid toward the full and final settlement of the debt due to the bank.
1
The appeal is disposed of as withdrawn in terms of the OTS. The respondent bank shall issue a No Due Certificate on receipt of the entire dues and the appellants shall be discharged from their liabilities.
Sd/Chairperson
psa-05
2
Sun Infrastructure Pvt. Ltd. & Ors.
Canara Bank
Ashok Menon
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
